For this blog posting, I am presenting the first portions of a business plan, based on the vision and scope of a LYP Productions. In this post, I provide the a description of the company, company mission, intended services, steps taken to develop the business to date, as well as the intended legal status and ownership of LYP Productions. In addition, details related to the operation and management of LYP Productions will be provided which identify necessary technology, management, potential advisors for the business, as well as the management structure.
LYP Productions is an independent creative agency which focuses on creation of digital media assets that inspires human connection, communicates a story, and allows opportunity for a brand, business, non-profit organization or individual to engage with their target audience as well as establishment of brand identity.
The mission of LYP Productions is to be the innovative leader in providing cutting edge digital media assets that inspire human connection, build relationships, and create a unique voice for each client.
The goal of LYP Productions is to build ongoing collaborative relationships with each client that is accessible, ongoing, and exceeds the expectations of the client. Our desire is to provide efficient delivery of digital media assets that are creative innovative, utilize new technologies, and applies knowledge of current trends, methodologies and psychology.
LYP Productions will produce digital story assets, client presentations, proposal (pitch) videos, training materials, video assets for websites, personal persona assets, and other customized projects that meet the marketing and social campaign needs of our clients. Additionally, LYP Productions will provide consulting services to assist clients in creating a cohesive campaign that best represents their brand, message, and marketing objectives.
Production fees will vary dependent upon size of project, length of video assets, and necessary investment of time necessary to curate assets for production of digital media assets.
LYP Productions will assist with acquiring images for use in media assets, but client will be responsible for payment of any fees associated with the acquisition of stock media assets, royalties or licensing fees, as well as time investment. LYP Productions will establish a standard fee for the acquisition of stock image or stock video footage desired by the client.
Services provided by LYP Productions will include three standard revisions for each client project, and incur additional fees for revisions outside of the scope of the agreed upon project. Package deals will be provided to clients seeking multiple digital media assets, as well as non-profit organizations.
LYP Productions anticipates earning profit within the first year of operations. All profits achieved in the first year of operation will be invested in LYP Productions to cover any operational expenses, necessary membership fees, or additional tools required for the business, as well as repayment of any initial investment of business owner. Following the first year of operation, profits 50 percent of profits will be distributed to any investors (including business owner), with remaining profits used to grow, expand and promote the business. After the third year, 80 percent of profits will be distributed to investors (including business owner), with remaining profits invested in the growth and promotion of LYP Productions, investment in new technologies, and ongoing learning objectives of the company.
Development to Date:
LYP Productions is a new start-up that is not currently seeking any outside funding. The company is in early stages of preparing all necessary legal documents to register a business name, establish a business entity, and development of assets to promote the business.
Primary owner of LYP Productions has established membership with AIGA to both promote the business, as well as establish collaborative opportunities for LYP Productions. These collaborative opportunities will help build relationships within the local community, act as a resource for potential advisors, as well as future expansion of LYP Productions design team.
Owner currently owns and manages the following domain names intended for use with LYP Productions, or future subsidiaries of LYP Productions:
Legal Status and Ownership:
Intent for LYP Productions is to register as a Single Member Limited Liability Company in the state of Washington. LYP Productions is owned and operated solely by Loren Maxwell in Seattle, Washington.
The purpose for incorporation of LYP Productions as a Single Member Limited Liability Company is to protect the personal assets of the owner (Loren Maxwell), provide for tax advantages not available to Sole Proprietors, establishing credibility with clients, vendors or partners, and provide greater ease in raising funds for the company if necessary.
LYP Productions does not currently have any affiliate partnerships, though this will be a consideration as the business evolves and grows to meet the needs of clients.
Following incorporation of LYP Productions, the business owner seeks to trademark the business name LYP Productions, as well as establishing “unleashing experiential awe:” as trademarked company slogan.
Should growth of the business or interest of the owner (Loren Maxwell) require consideration of investors, LYP Productions may expand from a Single Member Limited Liability Company to a Member Managed LLC.
LYP Productions will operate within Seattle, Washington and provide services locally, and within the greater Seattle area. LYP Productions will also engage in opportunities for national clients, and collaborative opportunities with outside creative in the industry.
Operations will be initially run from the owner residence in Seattle, Washington until such time as a commercial space is deemed appropriate for the growth and expansion of LYP Productions. In today’s modern world, many collaborative efforts can be accomplished online, and a physical location may not be necessary for LYP Productions to accomplish their goals.
LYPproductions.com will house all information related to services of the business, portfolio of projects completed, contact information, and method to submit requests for services and inquiries. The website is currently owned and managed by the owner of LYP Productions (Loren Maxwell), but may be outsourced as necessary to provide the greatest benefit to both clients, and LYP Productions.
LYP Productions will enlist freelance creative as necessary to assist in meeting the needs and expectations of the clients. Any additional fees that may be necessary, or fees that will impact the client will be agreed upon in written contract before hiring of freelance artists are hired for any specified project.
LYP Productions will provide unique, integrated, all-inclusive services to it’s clients that helps produce long-term ongoing relationships with the client. The company serves to expand it’s operations with the needs of clients, as well as the ever evolving technologies. Critical to the success of LYP Productions is keeping abreast of new technologies, continued learning, and expansion of services that meet the digital media demands at any given time.
It is imperative that LYP Productions remain abreast of new technologies, and invest in technology assets that support the mission of the company, as well as the needs of clients.
LYP Productions will invest in technology that provides necessary tools for high quality production of digital media assets, allows for effective collaboration with clients and freelance creative, as well as overall management of the business. Additionally, LYP Productions will invest in services or hardware that provide the necessary security and confidentiality of media assets for the client.
Necessary needs for the operation of LYP Productions is as follows:
Software / Membership Services:
- Adobe Creative Cloud – Full Creative Suite to include Adobe Premier, Photoshop, Illustrator, InDesign and After Effects.
- Adobe Audition
- Pro Logic X
- Final Cut Pro X
- After Effects
- Drop Box
- Google Drive
- Accounting Software (QuickBooks or Peach Tree)
- Shake (contracts)
- AIGA (non-profit design association)
- MacBook Pro (1)
- iPad (1)
- External RAID Hard Drive (2)
- Studio Speakers (1 Set)
- Studio Headphones (1)
- Condenser Microphone (1)
- FocusRite Scarlet 2i4 audio interface (1)
- Green Screen & Green Screen Stand (1)
- Airport Time Capsule (1)
Technology software and hardware assets will expand with the growth of LYP Productions, as well as the advent of new technologies that improve quality, delivery, and fulfillment of client needs.
LOREN MAXWELL, OWNER. Loren Maxwell is a student of Media Communications at Full Sail University who will graduate in December of 2015. His interests are in application of his knowledge learned to assist businesses, non-profit organizations and other clients achieve brand cohesiveness, effectively communicate their stories to targeted audiences, and support their ongoing needs. Loren Maxwell is dedicated to putting forth long hours to accomplish high quality results for his clients, and is familiar with the time and resources necessary to meet his clients deadlines.
FREELANCER RESOURCES, (To be Identified). LYP Productions will hire freelance creative to assist with project assets as necessary, that are in contractual agreements with clients. Freelance resources could become long term partnerships as LYP Productions expands and quality talent is identified.