Wyatt Mesh is a senior at Southern Methodist University from Kansas City, Kansas. He is double majoring in mechanical engineering and mathematics.
1. What role, if any, does a business plan play in building and launching an arts company (as a business pursuit)?
A business plan would allow the artist to predict its possible customer base and forecast their future sales. The business plan would contain all the artist’s business goals and his or her method for achieving them.
2. What three pieces of advice would you give aspiring artist entrepreneurs about planning?
Seek advice from experienced people.
When forecasting, always take the conservative approach.
“Slow and steady always wins the race.”
3. What do you believe are necessary qualities, if there are any, for artist entrepreneurs to possess or develop? An example might include a person speaking about focus, discipline, quality pitching skills, etc.
I believe that passion and people skills are very essential to being a successful artist entrepreneur.
4. What is the name of your business and how/why did you come up with the concept?
My business name is Dodeca Enterprises. The company idea started one day when my business partner and I were analyzing a surround sound speaker
system. Together we came up with concepts to better enhance the concept of surround sound.
5. Did you have any funding to the business?
Yes, we did have a funding of $5,000 to start the company.
6. How did you market your company?
As of right now, our products are still in R&D and have not hit the market. But prototypes have been made and tested by groups of close friends to receive feedback for improvements.
7. What obstacles did you encounter?
I have encountered multiple production problems. You might have a flawless design, but you have to be able to manufacture it efficiently in order to create profits.
Interview by Lexie Hammesfahr
Lexie Hammesfahr is a senior convergence journalism major at Southern Methodist University. Born and raised in Atlanta, Georgia, Lexie moved to Dallas 4 years ago. She grew up playing volleyball and baking, even starting her own company at the age of 16, Doodlecakes Bakery. Upon graduation in May 2014, she aims to be a broadcast reporter, eventually anchoring a national newscast. For contact purposes or more information, visit her website.