I recently attended an entertainment industry conference in Los Angeles that featured a panel presentation on the subject of non-fiction television. On the panel were executives and producers from HBO, PBS, and Showtime. These industry insiders discussed the verity of what makes a successful TV program - and how one goes about getting his or her program idea on the air. They also talked about the criteria they use to determine whether or not they will pursue a particular creative property.

As I listened to the panelists explain these decisive factors, I quickly began to see some interesting parallels between the development of a successful televison show and the development of a successful business.

According to the insiders, the most important part of the television show equation is the concept. Is it original? Or is it a script that's been written before? If it is a re-hashed theme, does it have a fresh spin that will attract both viewers and advertisers? Of course, the bottom line is will this show make money? Sound familiar?

As an entrepreneur, your script is your business plan. Now, fade in to a close-up of your own company. Is your concept original? Does your angle have enough "oomph" to attract customers, investors, and the attention of the media? Does it have what business mastermind Doug Hall calls the "dramatic difference?"

Most entrepreneurs write a short-term business plan at the genesis of their launch but don't frequently revisit this all-important strategic document. Just as a good script creates tension and resolution, your business plan should prepare you for antagonists (competitors), the climax (the pinnacle of your company's success), and the denouement (your exit strategy).

The panel of Hollywood experts then tackled what is known as "the pitch", or how you package and sell your idea. If you're really lucky, you'll get a minute of a producer's time to pitch your idea face-to-face. More often than not, however, you're pitching to a middle man who then has to sell your idea up the ladder. These folks get hundreds of show ideas a week and most of them wind up in the circular file simply because the pitch was poorly executed.

The panelists were each emphatic in their request that pitches be easy to understand. "We may work in a creative business," said one TV exec, "but we're not all visual. We need you to paint a really clear picture of what your show is going to look like. Don't make us have to work hard to figure out what you're trying to do. We simply don't have the time."

Let's compare the pitch to your company's marketing efforts. Do your messages and materials clearly explain your company's benefits? (Remember, benefits carry more weight than features. For example, "made of high quality stainless steel" is a great feature; "proven to reduce production time and manufacturing costs" is an even stronger benefit.) Is your pitch eye-catching, professional and comprehensible? Remember you, too, may have only a split second of a busy customer's attention in which to make that important sale, so make it easy for them to understand and buy your product or service.

The final criterion the panelists emphasized was long-term equity. Said one producer, "We're looking for shows that can live on in syndication both in the US and in foreign markets, creating revenue far into the future."

How does your business compare on the long-term equity scale? Are you providing products and services that will stand the test of time? Are you continually seeking to improve what you do best to ensure lasting viability? And are you investigating new and profitable channels of distribution to create future revenue-generating opportunities?

Following all of this sage advice, the panelists ended with a Hollywood clich‚: Success is all about who you know. Let's not kid ourselves. Connections can make us; lack of them can break us. So, just how extensive is your database? Do you have the contacts you need to move yourself and your company to the next level?

How you develop and maximize your business relationships will be the subject of another column but suffice it to say, at least in Hollywood, it's important to take care of those who take care of you.

That's a wrap.

Debra Davenport, PhD, is a Master Professional Mentor and the president of DavenportFolio, a licensed firm with offices in Los Angeles and Phoenix that mentors entrepreneurs and professionals. She is the creator of the Certified Professional Mentor® designation and certification program and the author of The Ten Commitments of Highly Successful People. debra@davenportfolio.com or (866) 232-6492.