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Sweet marketing music

Tanner Montague came to town from Seattle having never owned his own music venue before. He’s a musician himself, so he has a pretty good sense of good music, but he also wandered into a crowded music scene filled with concert venues large and small.But the owner of Green Room thinks he found a void in the market. It’s lacking, he says, in places serving between 200 and 500 people, a sweet spot he thinks could be a draw for both some national acts not quite big enough yet for arena gigs and local acts looking for a launching pad.“I felt that size would do well in the city to offer more options,” he says. “My goal was to A, bring another option for national acts but then, B, have a great spot for local bands to start.”Right or wrong, something seems to be working, he says. He’s got a full calendar of concerts booked out several months. How did he, as a newcomer to the market in an industry filled with competition, get the attention of the local concertgoer?

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by Bryan Feldhaus

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Effective Compliance in Small-to-Midsize Businesses: The 5Ws (and 1H)

To manage those risks, businesses must develop compliance programs that are specific and effective. That can be done by analyzing the five Ws (and one H).

What:    A business must first address the purpose of a compliance program. This includes the business history, its assets, and the compliance risks affecting the business.

Why:     Utilizing resources for compliance instead of sales and marketing is frequently a concern. But this is the wrong focus. Compliance programs can strengthen culture, reduce risk, and increase market share.

Who:     A compliance program for a SMB must have employee buy-in to be effective. Business leadership must provide the proper tone and reiterate the value provided by compliance programming.

When:   There is no time like the present, particularly when a compliance program can provide immediate value to a company’s culture and bottom-line.

Where:Compliance risk is determined by location, industry, customers and vendors. It is helpful to partner with counsel to address the risks associated with a geographic profile.

How:      An effective compliance program should include a risk assessment, formal policies, employee training, and regular auditing and enforcement. These elements can often be integrated into existing structures with minimal costs.