Make Your Film - Episode 14: Fundraising 2
The key to successful fundraising is understanding exactly what you are raising money for, how it will be used, when it will be needed, and by whom.
Many filmmakers come to me with their projects, excited to get them off the ground. They have actors attached and some initial support, but then they drop a budget figure like $15 to $18 million. My first question is always, "How did you get to that number?" Often, they present comparable films as justification. The truth is, you need a realistic and grounded budget before you start asking for money. Without this, your fundraising efforts will lack credibility.
What Do You Really Need?
Before you go out fundraising, make sure you know exactly what you need to make your film:
Build a budget based on these core needs. Get a real handle on your expenses, then figure out how to add stars without blowing up your rational budget.
Know Your Role in the Project
Are you one of the big three—Director, Producer, or Editor? If not, that’s OK, but make sure you plan your networking accordingly. Understand who you need to bring onto your team to strengthen your film’s chances of success.
Budgeting Can Be Overwhelming
Multiple days, multiple locations, actors and crew, hotels, airfares—the list goes on. Budgeting can drive you crazy, but it’s essential to get these details nailed down. Learn about it and make sure you understand it before you start pitching your project.
Key Takeaway
Don’t throw out unrealistic numbers like needing $6 million for one project or $22 million for another. Screw your brain on, do the homework, and go make your film!
Now go make your film! 🎥
See more at http://MakeYourFilm.net.
