Archive for July 10th, 2006

Many of you are in the entertainment industry and want to find out how to procure funding to start up and grow your projects. While every niche is different within the industry (what works for theatre may not work for music or movies), here are some of the most effective ways in which entertainment gets its financial start.

1. And the winner is… Submit your work to festivals, contests, competitions, etc. Sometimes being a prize or award winner is just the attention you need to get your project noticed.

2. I know a friend…

Equity investors are just every day people, except they have a great deal more money. They vary in their reasons for investing in films and other projects just as filmmakers and producers vary in their reasons for wanting to create them. And the bridge between filmmakers and private investors is a well-written business plan. Your single most important talent in preparing a plan is common sense. Know your audience (and yourself) so that you can choose the right attention-getting theme. Remember: people raise money; business plans are only a tool toward that end.

3. Grant me a wish… When in doubt, go for a grant. Although the grant writing process in itself can be quite tedious, the advantages are enticing: money you dont have to pay back, financial and political backing from credible organizations, community support, among others. On the other hand, when your project is funded by a grant, you better do what you say youll do, as eligibility compliance and program evaluations are also part of the deal.

4. We Are Family!

The most common funding source for budding entrepreneurs in ANY industry is going through friends and family to support their projects. You can be creative with this one: Host a movie marathon, a talent show, a private viewing of your play, a music gathering, etc. The key is to get them so in love with your project that theyll dedicate funds in the same way you are dedicating time, talent and effort.

5. Guardian angels Back in the days of Michaelangelo and Shakespeare, artists were sponsored by kings, feudal states, and even the Church. The deal was I pay you to do your art, you make me look good. These days, it is no different: I fund your art, you make me millions in return. If you want to pursue your art for the love of art with no thought to profitability, then this is not the venue for you. Angel investors that are passionate about art are also passionate about making good on their investments. So when you come to them with your plan (you DO have a plan, dont you?), make sure you watch the bottom line.

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For a more in-depth look at entertainment project funding, check out these resources:

For Film

http://www.caryn.com/indie/caryn-indie-funding.html

http://www.moviemoney.com

For Theatre

National Corporate Theatre Fund

http://www.nctf.org/cgi-bin/home.php

The Theatre Development Fund

http://www.tdf.org/index_default.html

For Music

http://www.ideasfactory.com/funding_awards/database/index.htm

(Idea Factory is based in England, not the
US, but they are a good resource for US counterparts, as well.)

http://www.canadianartsnet.com/arts/index.php

Angel Investors http://integcapfund.com/page/14s7k/Home_Page.html

http://www.eqlzrempire.com

http://www.gobignetwork.com/ *** Getting funding for your project is not as difficult as some paint it out to be. The key elements, as with everything, is preparation and a solid plan. Now go make the world a better place. Civilization’s very survival depends on the health of its arts and entertainment! Til next time, Coach Mo *** Want more tips and free coaching on starting and growing your business, make more money in less time while having an absolute blast in the process? Send a blank email to subscribe@ogandoassociates.com for weekly coaching!