12:25 PM
dwolson
As an independent filmmaker it can be a tough task to get
your idea into motion, and one of the biggest roadblocks is always
financing. I have recently put a
script together, and before I start pre-production I needed to come up with
some ways to overcome this. The biggest question is who will invest in entertainment?
The first thing to consider which is the easiest and safest
bet is to ask your family members.
Maybe you get lucky and have a bored wealthy aunt who wants some
excitement that comes with the red carpet. The best thing when it comes to financing using family and close friends, are the expectations
can be more realistic and they won’t chase you down at the first sign of
trouble.
Although if you are like me this is easier said then done, so
where else could I go for help? To answer
this I decided to take a look at traditional methods for getting finances to start
other projects or businesses. This
led me to a couple investors’ doorsteps.
That’s right traditional investors may be just as
interested, or more so in investing in your film just as much as taking a risk
investing in a more conventional business. The thing that needs to stay the same however is a proper
business plan for your film before you can knock.
Finding these investors can be tricky, and even when you do
they will only have a limited time where you can capture their attention. That’s why its important to know
exactly what to show and say before you even walk in the door.
To help you with your business plan development I have come
across a couple of experts in the field of writing and reviewing business plans
who can help shed some light on the key components investors are looking for.
Dave Lavinsky and Jay Turo of growthink.com have been
helping companies and individuals develop business plans and capitalize on
those ideas since 1999. Dave and Jay graduated
from UCLA with an MBA from the school of business.
First think of your business plan as a film treatment, which
is very similar. Give a sample
script that highlights major scenes and plot details, as well as describes the
main characters. After that it
should look like any other business plan, which includes your finances,
competition, demographics, and other research pertinent to showing why they should
invest in you.
Make sure you focus all your time telling them why they should invest in you using supporting examples from the above key factors, like explaining what you need and what their return on investment will be in terms of time and a percentage. You will be lucky to get more than five minutes before they already have made up their mind so prioritize your information. This will still be a difficult task to find enough people to finance your film, so don't be discouraged just continue to be passionate!
Make sure you focus all your time telling them why they should invest in you using supporting examples from the above key factors, like explaining what you need and what their return on investment will be in terms of time and a percentage. You will be lucky to get more than five minutes before they already have made up their mind so prioritize your information. This will still be a difficult task to find enough people to finance your film, so don't be discouraged just continue to be passionate!
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