2001 | Case No. SM57 | Length 22 pgs.
This case examines an entrepreneur’s efforts to capitalize on what he considers to be a greenfield opportunity in the entertainment industry. Believing there to be a relatively under-served market for world-class, indoor, mid-sized live entertainment venues in various cities across the United States, Leo Linbeck established NextStage Entertainment to turn his idea into reality. The case follows the enthusiastic Linbeck through the various phases involved in getting his venture off the ground – identifying an opportunity, researching the idea, building support for the concept, hiring management team members, raising capital, altering the company’s strategy, overcoming challenges, raising additional capital, negotiating with municipalities and breaking ground on the first venue. As the story unfolds, Linbeck decides that it makes sense to not only build venues, but to become active further up the entertainment industry value chain – particularly in event production and promotion. In addition to building venues, Linbeck and his team eventually decide to develop their own Christmas show “in-house.” Doing so makes NextStage’s task even more complex, but offers what Linbeck believes to be a lasting competitive advantage. The NextStage story is pure entrepreneurship at its best.
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