Last time we mentioned that the Risk Pyramid is made up of:
1. Country risk
2. Industry risk
3. Management/ non-financial risk
4. Financial risk
5. Product/ transaction risk.
We also stated a few of the country and industry risks as it relates to Spoken Word Poetry.
Obviously, we can’t go into too much details on paper as it relates to these risks. They are better analysed one on one or in a class setting.
We stopped at Management/ non-financial risks and we will deal with it right now.
Are you ready for me?
3) Management/ Non-financial risk: this basically has to do with you and your team.
So the question to ask here is:
who u b? Wetin u don do?
Sorry, I mean,
who are you?
What have you done/ achieved?
People want to know your experience, your pedigree, your track record, your achievements etc.
If you are saying you can do something, you should be able to show what you have done before.
If as a poet, you want to perform on the big stage but you have no video of your past performance (s), most organizers won’t allow you on their platform.
Why do you think most poets like to be called “award winning poet?”
They are trying to show they have pedigree.
Most brands won’t sponsor a new show/ event, unless they are sure the organizers have a track record of well organized events.
So build your track record to boost your chances for the big bucks/ big stage.
4) Financial risk: is a game of numbers.
How many views do you have on your video(s)?
How many video/ audio downloads?
How many people came to your show?
How many brands partnered with you?
What’s your cost? Is it reasonable?
Know your numbers.
Know your costs.
Learn to count so you can be counted.
And make the numbers count.
5) Product/ Transaction risk: you are the product.
What is your USP?
Are you bankable?
Are you valuable?
Your value is in your function.
You and/or your event is the transaction.
What is the transaction dynamics of your event?
Is it an investable event?
No matter how good you are, if you don’t know how to “sell yourself,” you won’t achieve much.
So learn to stand out until you are outstanding.
As a poet learn the business of your craft. Invest in knowledge, research and smart work, so you can win in life.
I’m available to help your condition
Olumide Holloway aka King Olulu
Twitter @olulu4ever, Instagram @olulutheking, +2348025070892, email@example.com
Cover Picture source: https:// towardsdatascience.com/how-information-technologies-influenced-risk-management-7eb3a38d253?gi=5dd8b5377b26
To register for the Business of Spoken Word Poetry 2020, click this link – https://wordup411ng.com/wordup-talk-series-the-business-of-spoken-word-poetry-in-nigeria-2020/