One of the key thing my former boss use to say to me is, “always ensure you add value.” He would also add, “if a credit analyst does not add value to the review of the request he or she is doing, then what is the need to have the report pass through analysis? Why not just send straight to Management?” So of the many lessons I learnt from him, one of them is that the key element of analysis is making use of the data you have to provide information and/ or new insight to the reader of the report.
My passion is spoken word poetry and I have this vision to develop a vibrant poetry industry in Nigeria (and Africa) for poets to earn a living earn a decent living from their performances. So I always try to marry “analysis to poetry to information” on a daily basis.”
Recently, I came across an article which stated that over 20,000 events are held monthly in Lagos State, Nigeria. This is further broken down into 5,000 events weekly and 500 events daily. How does this affect the development of a vibrant poetry industry? Well, it shows there are more than enough platforms (free and paid) waiting for poets to perform on. All that is necessary is just to bring the poets into the consciousness of the event organizers. We will get to that in a bit.
So lets look at the flip side, what do we need to bring the poets into the consciousness of the event organizers? We make “loud” positive impact.
What do we need to make “loud” positive impact? Money.
How do we get money? Investor(s).
What does the investor get for his/ her investment? Return on Investment.
How long before returns starts to come in for the investment? Within 2 years.
So as an investor, if we take the stats above and marry it to the business of poetry i.e. investing in poetry, we will have have something like this.
First the assumptions:
- We get a minimum investment of $131,334.
- God’s grace abound.
With the above assumptions, we can project the following:
Before and during event
- Slam poetry competition with a prize money of $3,000, $1000 and $600 for the 1st, 2nd and 3rd respectively
- Car for the winner e.g. Toyota Camry 2008 (I love that car)
- Paid Publicity on social media (Facebook, Twitter, Linkedin)
- Do a branded tee shirt 1,000 pieces at $7 each (this will serve as entry fee)
- Venues, Halls, sound system, video recording, judges, lodging, transport and other event logistics over 6 weekends
- Miscellaneous (e.g. DVD production, additional tee shirts etc)
For the next 3 months, we get plenty visibility for the top 3 poets at different events, both poetry and non-poetry (this is a key factor that will turn the art into a very “sellable product,” – I will expatiate on this later).
Entry fee into the slam competition i.e. buy a tee shirt @$10 for an estimated 1,000 poets
After the event
- Sale of the DVDs at $2 per copy for an estimated 5,000 people
- Sale of other merchandise (tee shirts)
- Sale of content
- Management/ Agent fees (if you are ready to manage the top 3 poets)
- Sell the event as a product to Secondary Schools (per annum)
- Entry fees from poets for the next event after publicity kicks off @$3 for an estimated 60,000 poets
- Paid training and lecture sessions for interested poets
- Mentoring classes
After 2 to 4 years
Export the brand or Sell franchise of the brand to other (African) Countries
After 5 to 7 years
Sell the brand for a $1 billion.
The above can actually serve as a Country’s blueprint to increase the literacy level of their youths and create jobs using this creative art of Spoken Word Poetry. If this concept is well executed, it will also boost the tourism industry as foreign poets will enjoy coming around to participate in the poetry activities. Thus, poetry is capable of solving economic issues of poor education and unemployment, and thereafter improving the economy in revenue generation.
Please feel free to steal this idea/ concept and run with it.
However, if you do have $131,334 to spare and you would want to work with us; we are here, willing, able and ready to make your investment count in your favour.
Olumide Holloway (aka King Olulu the Poetprenuer)