Most independent filmmakers want to save money but feel too strapped to take action. This is because each month is filled with bills and other unexpected expenses. For this reason, most people put off saving until the end of the month. The problem is, by that time, there is nothing left to save. Despite the expenses of living, there are ways to save money. Here is how I was able to pay myself first.
One way I mitigate this “all eggs in one basket” approach to filmmaking (and business) is to always have projects in various stages of development. This allows you to check one rejection off the list and put your focus into the next. And just because one prospective investor rejects one opportunity, there is nothing stopping you from shopping around…
As a filmmaker, independent film financing a major mystery. When I was starting out, I met with quite a few producers who refused to share their money secrets with me… I don’t know why they were so secretive. But it really annoyed me.
Could you go to “networking events” and try to find folks to help introduce you to the appropriate contact? Yes. But just as easily you could pick up the phone, call your prospective contact’s place of business and try to get him or her on the phone to make your pitch.
Assuming you have met with a lawyer and figured out a way to protect yourself legally – If you aren’t afraid to hear the word “NO,” then what is stopping you from setting up a meeting and presenting your ideas to prospective investors? It doesn’t always mean you’ll get the money (if it were easy, everybody would be doing it.) – but it does mean that every NO is one no closer to YES!
