I don’t know about you – but for me, getting money to make a movie was a major mystery. When I was starting out, I met with quite a few producers who refused to share their money magnet secrets with me… I don’t know why.
Even though some filmmakers think getting money is somehow limited to the arena of filmmaking, it’s not. The truth is, all budding business professionals need to shake the money tree from time to time. So luckily for us filmmakers, the world of business provides us with rules to and resources for getting money.
GET THE MONEY
The traditional ways people raise money in the United States, aside from going to a bank, is by meeting with an attorney, putting together some complex paperwork in-line with the Securities and Exchange Commission regulations, creating relationships and meeting with potential investors, asking for money – and then getting the check!
Now, this is pretty complex. So I hope you’ve taken some time to look at your movie. Do you need a few million to make it? Or can your project be made for much less? This factor alone will determine your strategy. Just keep in mind – If you’ve worked really hard to eliminate costs in your budget, then it’s possible to make a fancy looking movie for under 15K… Or less.
Yes. You read that right.
But for today, lets take a look at some traditional action steps used in raising a few million dollars:
- Cultivate a legitimate friendships with rich and successful people.
- Get an attorney to write up something called a private placement memorandum.
- Figure out how you’ll spend the money.
- Figure out how you’ll get the money back.
- Under a million and it’s doubtful your venture will be perceived as a worthwhile investment.
Now again. Raising money is a super simple subject (just find rich people and ask for the money) – but the laws and rules and regulations mean that you’ll need to know a few things about protecting yourself and your business from liability. The following resources are worth reading if you want to add to your growing knowledge base on “how do I get money to make my movie?”
I found OPM: How to Attract Other People’s Money for Your Investments–The Ultimate Leverage, to be a pretty good read. It’s not filmmaking related – but as I often say, if you want to get a step ahead of your filmmaking competitors, you need to learn a thing or two about general business. And speaking of business, I also think Risky Business: Financing & Distributing Independent Films provides some specific movie making information that I would have otherwise not considered.
In four days, I’ll send you a lesser known, secret strategy for raising funds. (And it won’t involve asking a dentist or a doctor. Promise!)