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EntrepreneurshipEntrepreneurship
Kathy Buxton
MBA9051
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Who is the Entrepreneur?Who is the Entrepreneur?
y Michael Gudinski
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Personal characteristics of the entrepreneurPersonal characteristics of the entrepreneur
y Born in 1952, Michael Gudinski is the son of
Russian immigrants who arrived in Australia in
1948.
y
At the age of 9, he charged people to park in hisparents backyard for the Caulfield Cup.
y He started booking bands for school dances
when he was still at Melbourne High School.
y High School drop out
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Why MichaelWhy Michael GudinskiGudinski
y Michael displays all the characteristics of an
entrepreneur, he is:
Passionate about what he does
He has vision and energy Is a risk taker
Is a leader, started something unique in Australia
Is flamboyant and confident
He is persistent and thrives on challenges
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ChallengesChallenges
y In the early 1970s Gudinski founded a short-
lived music magazine, Daily Planet, but the
publication failed to reach a wide audience and
consistently lost money.y Setup Consolidated Rock with a partner, who
left the country and Michael with all the debts.
y Mushroom struggled to survive for its first two
years, hampered by lack of airplay oncommercial radio, and the company reportedly
came close to folding on several occasions.
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RecognitionRecognition
y Australian Marketing Institute awarded
Michael the highest award for marketing
excellence that an individual can receive.
y Order of Australia was awarded to him in
2006 for services to the Music industry.
y Listed in the Bulletins 100 Most
Influential Australians of all time.
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Why did Michael choose this business:Why did Michael choose this business:
y I guess I got into the business because I
genuinely felt there was an opportunity
there.
y I felt it was probably a good way for a guy
to meet lots of girls.
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The Music MarketThe Music Market
yAustralians had no control over their
own material or production.
y
In 1972 Michael founded MushroomRecords with a partner, Ray Evans.
y It eventually developed into the
largest independent record label inAustralia
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His vision of the marketHis vision of the market
y He wanted to be able to control and
benefit from interrelated companies, so
he expanded the business intoTouring,
Merchandise, Music Publishing, etc.
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Mushroom CompaniesMushroom Companies
TOURING & EVENTS RECORD LABELSThe FrontierTouring CompanyFrontier Events
Premier Artist & Harbour AgencyRoundhouse Entertainment
Illusive Entertainment
LiberationLiberator
Ivy LeagueIllusive Sounds
Infectious UK
PUBLICITY & PROMOTIONS
Mushroom Group Promotions
(MGP)
PUBLISHING
Mushroom Music
MERCHANDISINGATM
Band shirts
FILM &TELEVISIONMushroom Pictures & MushroomTV
MEDIA & MARKETING
Mushroom Marketing
Mcm Entertainment
Clear Intent
VENUES
Ding Dong
Trak
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Mushroom RecordsMushroom Records
y Artists take time to develop and you've
got to be trying to set new patterns
and be original.
y Diverse range of artists, from Kylie
Minogue, Jimmy Barnes, Eskimo Joe, Paul
Kelly andYothuYindi
y Represented 450 artists and produced 16million albums and 8 million singles in its
25 year history.
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Mushroom RecordsMushroom Records
y Michael sold 49% of Mushroom Records
to Murdoch in 1990s.
y In 1996 the company turnover was $40
Million.
y He sold the remaining 51% of the
business to Murdoch in 1999 for $60
million.y Murdoch chose not to keep him involved
in the business and the company was not
successful and was dismantled.
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The Show must go onThe Show must go on
y He is still active in the business Frontier
Touring Company is one of the most
successful music promoters in the
country.
y Mushroom Music, is the principal
independent music publishing company in
Australia.
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RecommendationsRecommendations
y Has to stay relevant
y His son runs Illusive Entertainment Group
which caters for the younger audience,
but has been in trouble with gambling
debts.
y He is the face of the mushroom
companies so should stay involved aslong as he can and promote another good
entrepreneur to replace him.
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Questions?Questions?
y Thank you and are there any questions?
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