Have you ever wondered how to pitch your film project to prospective investors? Well the whole process starts with breaking down your script, creating a schedule, budget and business plan. From there, you will meet with a qualified attorney and figure out how to protect yourself legally (this is important).
Once your paperwork and strategy is solid, the next step is to prep your project, make some calls, set up a meeting and present your ideas. A few years back I set up a meeting with a a very successful businessman (who I met in 2004). My goal was to pitch him my current business idea. And this is how I did it…
How To Pitch Your Film Project To Prospective Investors
Here are the steps I took. Utilize some of these steps to pitch your film project.
1. I emailed and asked for a meeting to discuss an “interesting business idea.”
2. I got a response. We scheduled the meeting.
3. Prior to the meeting, I worked liked crazy to refine a PowerPoint presentation. The PowerPoint followed a standard business plan outline. Once complete, I acted out the presentation about a dozen times. I also visualized how the meeting would go.
4. On the morning of the meeting, I dressed to impress. In my car, on the drive there, I rehearsed the meeting.
Yes. I talked to myself. I also prepared a printed copy of the presentation and created a Plan-B just in case the projector malfunctioned.
5. When I got to the meeting, I requested that their IT person help me set up the projector. Then I flipped through each slide to made sure the overhead projector worked.
6. When the decision maker arrived, I gave a firm handshake and we exchanged some friendly conversation. I asked a lot of questions about his current business.
As an entrepreneurial filmmaker, you must always consider your audience. If your prospective investor manufactures widgets, you should know about his business and then find ways to bend your pitch so that your project may benefit his core business.
7. I then began the PowerPoint. I presented each slide with enthusiasm.
8. After the presentation, the prospective investor had questions.
If you get questions, your prospect is interested. If there are no questions, your prospect is not interested.
Here are some questions I was asked:
- How will this project garner ROI (return on investment)?
- How long will it take to get the money back?
- What multiple will this investment potentially return? (If your business idea can not garner a higher return than a savings account, why do business at all?)
9. After questions were answered, I ASKED what he would need to move forward. He mentioned that he would need to see how the money would be spent and exactly how I plan on returning it.
I provided a basic overview in my slides, but he wanted more granular detail.
10. I told him I would circle back with more details and provide him with a copy of the business plan.
Some of you may ask why I didn’t take my refined business plan to the meeting. Since we are talking about a long term business and a lot of other people’s money, I first wanted to gauge the level of interest and see if we could build rapport. I also wanted to uncover any red flags. I also wanted to keep them wanting more…
When it comes time to pitch your film project, having a good meeting doesn’t always mean you’ll get the money (if it were easy, everybody would do it.) But it does mean that every NO is one no closer to YES! And if you want to find out more about how to plan your film project, check out the film business plan.