Sneaky Business & Advice
There is a “right way” to pursue our business goals. We all know right from wrong. All business ventures should be conducted with simple ethics and morals in mind. In reality, the competition is fierce in business and best practices vary especially during these tough economic times. All relative industries are financially strapped nowadays, so it is common place that companies are more apt to collaborate; especially in the field of entertainment. This could potentially yield to “cutting corners” in business just to “get over”. Although verbal communications between business people and are still construed as valid and contractually obligating it still isn’t enough to ensure that each party lives up to its promises. Now, it is unfortunately necessary for companies, especially production houses, networks and talent to utilize written documents in business to ensure fair dealings. Business education combined with life experience is a natural part of the negotiations to success. It’s a long and hard road too which includes a series of hard knocks and valuable lessons to be learned both willingly and involuntarily. Perseverance and discernment are additional character traits we soon develop while we mature as business entrepreneurs with dreams. When it’s time to consummate a joint business relationship the financial process can be stressful. But before the funding happens, nothing is binding even with contracts; the only thing that guarantees us any business promise will be fulfilled begins with the heart, will and intent of the partners. At the point the sharing of a valuable business concept occurs, vulnerability exists as well. Also at that time in the business process, “written proposals” may have been implemented outlining the potential projects’ winning features. It is sure we sometimes assume we are dealing with upright business persons, however, not always. Therefore, two documents are essential in business to protect all parties and information shared which are: a Mutual Non Disclosure/Non Circumvention Agreement and a Confidentiality Statement. In the past, big business transactions took place with a mere hand shake and a nod as both parties agreed to obtain success with ease. But today, we are forced to protect our business projects in writing, especially in Hollywood! Our intellect is protectable and invaluable because in “the business”, bad practices are inevitable. It is so easy to steal a concept, “tweak it and sneak it” to make it legally original even though it then becomes acquired by malicious intent. This has happened to the best of us who pursue our Hollywood dreams. The most popular form of “SNEAKY BUSINESS” is the pilferage of our intellectual property which causes immediate dissention to the weaker party. Let’s be real. We have all heard of this type of dishonest cost of doing business and enjoy the stories of scandal in the entertainment business that occurs every day. We call and accept it as “Juicy Hollywood Gossip”. Sadly, we sweep these happenings under the rug and that is why it continues to recur as we speak.Once a business idea is shared there is then a chance for a hurtful breach. It takes a thick skin and undying will to succeed; it is literal battle to protect ourselves. We can engage in honest business and have prosperous joint ventures yet must be keen enough to avoid those with surreptitious ways. Dressthe part and be positively stealth in your business. Identify and cut off those who are willing to do anything to make it to the top without a conscious in business! Don’t allow others to rob you of your creativity when they deliver false promises using conniving tactics to gain access to your ideas when there is no intent to fund your project. Their bad business will ultimately result in failure as word in the industry travels fast! Your best business practice and defense is to know your competition and to share the lessons you have learned with other new business entrepreneurs. You can climb the ladder to success with integrity and expose scandal when it occurs. Lose no more, yet win! Let’s expose bad business practices and sharpen our discernment together. Use your gut and good judgment when you consider business partners, be fiduciary in your duty to protect your own works, assume nothing and trust no one.We’d like to hear from you and your story so we can learn and grow in good business together so stay tuned and write to us while we share the wealth of business knowledge with the world!
Written by: Christina Silva