It’s interesting how I get certain types of emails in ‘waves’ at different times of the year. Case in point is how this week I got more than a few emails and questions on FB about the Job Creations Act and how that will effect filmmakers in 2013.
The idea is that starting in 2013 filmmakers will be able to raise financing on crowd funding platforms like Kickstarter and IndieGoGo NOT just in actual donations, but as investments. This has the potential to be a game changer as many investors often ‘lurk’ on these crowd funding platforms looking for good deals and and filmmakers could take advantage of this and actually raise larger sums of money than they are able to do through a strictly donations-based campaign.
You can actually get more of the nitty gritty details on Crowd Funding and the Job Creations Act on a seminar I did with Corky Kessler last month. Click Here to access it.
Anyway, while I’m excited about the possibilities of all this and what it means for filmmakers, I’m also acutely aware that there’s a ‘back to basics’ thing that needs to be taking place here. Meaning – the channels may be opening up to access more money, but you still need to be offering something of value for people to invest in. Donations are a whole separate ball of wax – you can make art for art’s sake when you’re doing that. But the level of responsibility increases when you want to raise investment. I don’t take this lightly and neither should you.
So I’d like to ask you - what are you doing to create a value proposition for potential investors? Have you taken the time to create a realistic budget for your film? Have you done a Business Plan if for nothing else to think through how this whole paying investors back thing is going to work? Have you started to build a marketable and saleable package for your film, or are you shooting and praying for Sundance and a magical deal to come along? (come on, I hope I’ve taught you better than that! :) And are you working with a Finance Plan that pulls a percentage of your budget from pre-sales, gap, and tax funding and mitigating your investors’ risk and exposure?
I’d love to hear your thoughts on this topic specifically: What are you doing right now to build an actual value proposition for investors to come on board your project?
Please leave your comments in the section below. Let’s have an intelligent discussion on this so we can all help each other get ready for 2013 whether you want to take advantage of the Jobs Act or not.
A Couple Other Announcements…..
Dont’ forget that although the first phase of the Film Specific Holiday promotion has ended, we’re still giving away bonus months when you become an FS Pro Yearly or Half Yearly member through the end of this month only.
Don’t miss out on joining THE go-to community on the web for like minded and serious filmmakers – aside from all the training and resources we provide, our private forums are like gold since we discuss things in there that you won’t find anywhere else on the web. And in 2013 we’re launching FS member in-person meet ups in cities across the world, so join the community now and get on board with all of us for the new year.
And for those of you who are serious about hitting the ground running with the Jobs Act or who want to begin the process of putting together a Finance Plan for your film, I’ve kept the Film Specific Business Plan service at 20% off through the end of this month. Note, our Business Plans are very different from your run-of-the-mill plan. They include full custom graphics, break-even analysis, and custom sales projections. To take advantage of this offer, go here now to read more about it and get in contact with me directly to get started: