Cassava Films - The List of 9

the list of 9 for december 8, 1997:
NINE TIPS ON RAISING MONEY FOR INDEPENDENT FILMS

Please note that the following suggestions are based on my own experiences and observations. Every human being leads a different life and every person who wants to make their own movie will have their own individual adventures in fund-raising.

NEVER EXPECT ANYBODY TO RAISE MONEY FOR YOU IF THEY CAN'T RAISE MONEY FOR THEMSELVES. Sad but true: everybody's looking out for number 1. If somebody is talented enough to raise money for your film, chances are they will have already used that talent to provide a comfortable life for themselves. Anybody who promises to obtain financing for you and can't even pay their own phone bill should not be entrusted with this task.
SAVE UP YOUR OWN MONEY. People like to say "never spend your own money on your film," but I've never met an independent filmmaker who didn't have to dip into their own bank account (and those of their families) to finish their project. Remember: if all the money is yours, you have to answer to no one. You can make whatever film you want.
LET YOUR INVESTORS GET INVOLVED ARTISTICALLY - SOMEWHAT. Most people enjoy the chance to be creative. And for some potential investors, movies are very glamourous and they would adore being a part of the process. Be open to their suggestions, but don't sacrifice your vision just for the money: think of safe, creative ways investors can get involved artistically. Let them be extras. Give them an "executive producer" credit. Invite them to the set. Ask their opinions on things. Show that you respect them - after all, they are putting a lot of faith in you and deserve that respect. But if someone wants to invest only if you cast his girlfriend in the lead, and his girlfriend is a terrible actress, then forget it.
DON'T BE AFRAID TO HYPE YOURSELF AND YOUR FILM. The archetypal "artiste" is supposed to loathe shameless self-promotion. But nobody will notice that you're making a movie if you don't scream about it constantly. Get the word out. Tell everybody you know that you're making a film and soon people will start referring to you as "that (guy/girl) who's making a movie." More power to you if you have something that makes you stand out. Like if you're the only person to shoot an action movie in Antarctica, or you're the first professional arm-wrestler to direct a romance, or whatever.
GET ALL THE MONEY BEFORE YOU START FILMING. This is where we blew it with Foreign Correspondents. Believe me, it may be frustrating to sit around for three years trying to hustle up all the cash before production, but it's far less stressful than shooting your film and then being deeply in debt.
THE FOUR C'S OF MONEY-RAISING: CHARISMA. Some are born with it, some work hard to attain it, some just don't have it. But you have to be confident, warm, and enthusiastic enough to inspire faith in the people you are dealing with. Make people get excited about helping you out with your project.
THE FOUR C'S OF MONEY-RAISING: CREDIBILITY. Charisma won't go far if you aren't realistic. Do your homework. Break down a budget. Have a schedule. Be able to show investors that you know what you are talking about and that you will spend their money wisely.
THE FOUR C'S OF MONEY-RAISING: CLOUT. A good reputation is a definite asset. For some people, "clout" is having an award-winning or financially successful film already under their belt. For others, it's simply being known as an honest person, a hard worker or particularly talented. If you are asking your landlord to invest, it will make a major difference if you always pay your rent in time.
THE FOUR C'S OF MONEY-RAISING: CONNECTIONS! The big one. Goody for you if your mother is a studio executive, or if you have just pulled a generous millionaire out of a burning building. But don't be bummed if you live in smalltown Botswana and don't know any Hollywood people. Everybody can be a connection. Your movie-fanatic dentist might love to invest. Or maybe you have a friend whose cousin owns a restaurant you can shoot in, and they'll provide free food for the crew if you include their name in the credits. It's a small world.