Friday, November 25, 2011

CROWDFUNDING


CROWDFUNDING

Crowdfunding is a word I had never heard of until I came across an article while doing research for a Finance class.  It is a type of funding similar to a co-op where individuals jointly own enterprises or endeavors for mutual benefit. Crowdfunding is primarily done over the World Wide Web. Anybody can find a cause that uses crowdfunding to support an artist, a band or a movie. Political campaigns could be considered as crowdfunding. The advantage to this type of funding is that bands or an artist would not have to solicit funds from a large corporation or borrow money from a bank. Disaster relief efforts or fundraisers by well known bands are crowdfunding, such as in 1984 “Feed the World”, 2010 Nashville Flood Relief benefit concert and the 2005 Hurricane Katrina benefit concerts. For bands looking for funding (https://www.sellaband.com/) is a site where bands can upload their music. Anybody can then listen to the music and donate money towards any band they like. It is not an investment tool there are no monetary returns like stocks. But, there are incentives much like pledge drives for PBS TV and Radio. Donate $10 you’ll get a CD from the band or a DVD from a movie if it is released. (http://www.movies.com/movie-news/what-is-crowdfunding/5107) This website has various links to projects in the United States that are using crowdfunding as an alternative resource for to raise capital.

Friday, November 11, 2011

TRICK? or TREAT?


Signing a contract is making a commitment, a legal obligation. They can be either treats, or tricks. Usually a person enters into a contract in hopes of gaining something for themselves. Actually, contracts should benefit all parties involved. If the parties involved come to a standstill they should objectively examine, and discuss, each other's particular needs. Formulating a base of mutual expectations should lead to a "treat" contract. Sometimes a contract is non-negotiable.  A contract between a Professional Ballet School and it's prospective students is non-negotiable. A Ballet School Manager whom I interviewed related that structure and discipline are the fundamental roots of dance. The consideration of the school contracts include both a family commitment contract and a student commitment contract. Without these two signed contracts, a new student will not be admitted to the ballet school. Other clauses in the contracts include liability release, medical history, photographic releases and personal financial data. There is no Best Alternative to a Negotiated Agreement in this case. If the families do not comply and sign the contracts, their child will not be accepted. The world of entertainment is made up of "Special" people. Artists are a sensitive breed. Fragile egos, insecurities, delusions of grandeur abound. Dancers are no different. The term "diva" or "prima donna" is usually associated with a personae with a large ego. My interviewee stated, "Many of the emotionally generated issues that occur are addressed in the student/family handbook rules." Depending on the type of "offense" and circumstances surrounding it, both the student and parent/s are subject to possible expulsion. 3 incident reports lead to immediate expulsion. The 1st incident is  a conference with the school director. The 2nd incident is a formal signed document "warning". The 3rd incident is expulsion from the school. It is obvious that the Ballet school has the upper hand in leverage and power. However, the family does have an opt out option called a "Drop form". This enables the family to leave the school on their own terms. The drop form stops the responsibility of the financial contract immediately. No further charges are incurred. But, they do not get reimbursed for the initial tuition fee or fees up until the drop form is received by the financial officers. Immediately on receiving the drop form the family and child/ren must leave the school property. Ms. L stated that usually it's a parent that have "unrealistic expectations". She also stated," In my job I must have patience for the process. If you are not a people person this job would not be suitable for you." Parents are also usually the ones that apply "tricky tactics". Some believe their child/ren are the next big dance "Star", which could be a possibility, but they try to get away with non-compliance to the rules. This in my opinion could be particularly bad for the child/ren emotionally and teach them improper behaviors that could be detrimental to their  careers should they be exceptional dancers. On the positive side, dancers from this particular Ballet school have gone on to become famous in their field. As I was offered the opportunity to observe a rehearsal for a major production, I saw that the Ballet Master is very caring and has the dancers best interests at heart. Dancers are usually sensitive and affectionate with each other even though at times they must compete. The principal dancers are highly appreciated by the Ballet Master and they are the only ones who might be able to make choreographic suggestions to the Master, but only outside of the main event during social hours. Dancers can never question the Ballet Masters' role of Choreographer, especially during rehearsals. Autonomy is limited within the Ballet School. The students are allowed to wear their own jackets, backpacks, shoes inside the school but they must wear the proper required attire for the specific dance class. On Saturdays, according to Ms. L, students 8 yrs. old and above are allowed to wear any color leotard they wish. Ms. L's status and affiliation as School Manager with the most prestigious Ballet Company in Orlando, Florida is a fact she is very proud of. She enjoys being able to assist in developing children into the best technically trained dancer who will be able to enter into the professional realm of ballet. She interacts with people from other countries. She is able to negotiate scholarships and financial assistance for lower income families. Ms. L sponsored a young dancer who is now a principal dancer and has an awesome career. The world of Classical Ballet requires a huge commitment from families and students. The one's that "make it" work hard everyday rehearsing, usually up to 10 hours a day, 6 days a week. Ms. L is very proud of each and every one of the students. Due to confidentiality agreements, Ms. L requests to remain anonymous.