Every right thinking business man in the world and not just in Nigeria thinks of profits when making investments, and in film making business the probability of making profits are always hanging on the balance. This is because film is first and foremost an entertainment products and often times entertainment comes after the basic needs of man – food, shelter and clothing have been met.
With the reality on our mind, you can now understand why investors are very skeptical about putting funds in film and why those who invest ask many questions before staking their money.
As much as film is a risky business, it can also be very profitable when handled properly and by experienced Filmmaker.
Since 2015 till date I have been getting funds from both partners and investors to make film and I wish to share some of the steps I do take to secure funds.
Get a good Script
The foundation of every successful film business is how well the script is written. When you have a well scripted story you will even be excited in selling the idea to someone else. Please note that it is not enough for you to say you have a good script. You need to subject such script to conferencing but smart creatives who can help you point out both the commercial viability and the artistic success of the story.
In writing your story, I advise you to take care of three key things: Global Identification, Global Relevance, and Global Authority. To learn more about this three factors, watch this video I made on the subject
Once I have a good story and well written script, I usually launch the next step.
Prepare Business Proposal
Most filmmakers are so good with filmmaking but fails to understand that filmmaking is a business and must be treated so. You can’t walk into someone’s office or home and ask for money without presenting an appealing proposal. The idea of having a proposal is to help you define what the cost implications will be and how the investor can make profit from the venture.
One secret that has helped me is that I also include photos and names of the key cast and crew that will be working on the set. This proposal can either be for an investor who wants to invest his money and make profit or companies or organizations that are willing to give you money for product placement. I saw the move “Love is War” by Omoni Oboli and three companies at least I can identify had their advertisement in the story. The secret is to create scenes that will have you utilize these products and services in the movie thereby placing the products before your audience. Companies can put in a fraction of their publicity budget and that will be running in millions.
So yes you need a very good business proposal. I help people a lot in this regard. In fact, I have helped fellow filmmakers put together business proposals that they have utilized to raise funds. If you wish to use my expertise you can email me with ucheagbo@ucheagbo.com
Collaboration
In many of my posts I have emphasized the importance of collaboration as one of the core variables in succeeding in business. In Nigeria we are always interested in competition as against collaboration. This is very wrong and it will take us longer time to realize that we are not going anywhere. Everyone wants to answer the boss, everyone wants to be the sole Executive Producer, and all that, but no one is asking the important question of why is it always difficult to get a Hollywood movie that has one Executive Producer.
The answer is simple. When you collaborate with others, it gives you the advantage of pulling resources together, and if you had say N5million Naira and collaborate with other three people with same amount, that’s N20million Naira. The value will rise automatically. You know that 10% of 500million Naira is way better than 100% of 5million. Collaborate with people who have values to offer and you will see that in the end all of you will make more profit together than you can ever make individually.
The End.
