In this leadership portfolio activity, we were asked to speak with a banker or some sort of financial advisor in order to gain clarity on business loans, interest rates and how much a bank could help versus other financial options such as stocks, bonds and mutual funds.
This assignment in particular was helpful because I learned things that I can put in to action immediately. From a personal and business financial stand point, I learned how important it is to make your money work for you. Whether you are investing in a company, or saving money for your business. It's always important to have your money in a place where it can do some of the work for you.
Activity 5- Negotiation & Deal Making
In this activity, we were asked to either interview a professional negotiator, or conduct our own negotiation. Given the fact that I was in heavy negotiation with a staff member at Full Sail University concerning a play, I decided to report on the proceedings and the outcome of that negotiation.
Through this negotiation I learned the importance of research and time management. Research is important because in the business world, when trying to negotiate for a better option than what you have been given, its important to know the history and the stance of the opposing side. many times negotiations are lost because one side doesn't know the limits and the authority of the apposing side. Through research, you are able to find out what you're up against before the negotiations begin. Time management is also important because you have to be prepared in the event that any decision is made. It is always the goal to leave a negotiation better than when you came. If that is the case, as a business owner, it is always easier to make those adjustments when you have created the atmosphere for those changes to happen smoothly. Through proper time management and research, there will almost always be a positive outcome in negotiations when dealing with a business.
Activity 6- Project and Artist Management
In this activity, we were asked to interview someone who managed people or products. I chose to interview Mr. Sherman Scroggins who is the manager and director for Voices of Discipleship. They are a well known gospel group in Birmingham, AL.
After interviewing Mr. Scroggins there were two key components in good leadership that I learned. The first, was to always remember that I am dealing with people and not products. This is valuable information because it is always important to remember that things will not always go my way. Although I would like for everyone to always be on time and not miss a day, because people are apart of my equations, this will not happen. One other important piece of this statement is that people have emotions. It just as important to deal with people's emotions the correct way as it is to deal with productivity. When dealing with peoples emotions, my response as the leader could cause them to move in one direction or the other. As a positive leader, my responses should always be in the direction that is best for the company. Lastly, Mr. Scroggins taught me the importance of knowing the strengths and weaknesses of your personnel.
Many business crumble because management does not understand personnel. As a business owner, providing the atmosphere that fosters each employees strengths is a process that can not be over looked. In order for our employees to work at a level of maximum productivity, the environment to do so must be created.
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