Well folks I’ve been pretty quiet here in IFB since AFM and for good reason. I’ve been hustling with follow up and trying to get actual deals signed. You see, getting ‘interest’ in your projects is one thing, but closing an actual deal is something else entirely.  I’m happy to report though that since AFM I have heard from several clients specifically that they have long form agreements on their desks ready to sign (distribution deals, one screenplay option, and several pre-sale contracts). As for me, I’ve got 3 or 4 deals in the works as we speak so I’m very happy about that but still hustling every day nonetheless….

One of things that I’m noticing is that these days you need to be a lot more flexible and definitely more creative in your thinking when it comes to deal making. For example, terms of a contract may not be to your liking but as a new Producer or Filmmaker you need to realize that at this stage in your career, you’re not going to get the best deal on the planet in terms of money and control. You’re just not. So you must go into things knowing that these initial deals are about making a name for yourself and developing a track record so that hopefully you can leverage this for bigger future deals down the line. And always (I mean always!) invest in an experienced Entertainment Attorney (not attorney who ‘dabbles’ in entertainment) to review your contracts and fight for what’s ‘realistically’ yours….

What about creative thinking? Well I can tell you that I’m in the middle of a few deals right now where flexibility is certainly the order of the day. For example,  budgets, deal terms, and financing plans are subject to change at any time (and usually do). When one part of the financing plan falls through, time to get creative. Go with the flow and be ready to pounce on Plan B when Plan A falls through. My advice to you is never stop just going going going at it and you’ll find that solution.

One other thing to keep in mind … and I know I’ve said this before but you definitely want to have several irons in the fire at once. Five or Six projects on your producing slate is not too much – you’ll need it. Yesterday I was bummed out for a minute about something not working out on one project, and ten minutes later I got an email about something going through on an even bigger project on my slate. I wasn’t bummed out for long because with all the projects I’m juggling, there’s always something happening.

So what about you? What type of creative thinking have you found working well for you these days in your deal-making? Please comment below…I’d love to hear from you on this!

And for FS Members... if you missed my AFM Wrap-Up Seminar where I went over all the new trends in marketplace, you can catch the replay RIGHT HERE. There’s also a killer AFM round-up written by a Sales Agent which in my opinion is quite *illuminating* to say the least. You can catch that write-up in the FS Forums HERE.

Well, AFM just wrapped up and what a great market it was! For me personally I had a few extremely productive and ‘quality’ meetings (my theme this year was quality over quantity) that lead to almost all of the projects on my slate moving forward in one way or another. Good times!

But you may be wondering what my overall insights are from the market right? Like what were some of my major take-away’s and A-Ha moments. Well I’ll be going through my full analysis next week in a Virtual Seminar for Film Specific members, but in the mean time I’d like to share with you the following notes below… (taken directly from my notebook by the way that I carried around everywhere with me!)

Stacey’s AFM Insights…

• If you’ve got the goods, you’re not going to have a problem getting financing! There’s plenty of money out there circulating right now…

• If you run into financing road blocks, lower your budget…

• If you’re going for the bigger budget indie with name talent, then start with Pre-Sales – all other financing will be easier to come by after that…

• No matter what budget you’re making your film for, who the target audience is still needs to be made abundantly clear…

• Don’t make things more complicated than they are! Get some private equity, add a few pre-sales, get some gap… and lower your budget if necessary to make it all work!

• When trying to package your film, focus on creating a network of relationships you can leverage since gaining access to managers and agents is all about relationships…

• If you’re pitching a ‘branded’ project or one based on source material (like a book or graphic novel) – what is the level of awareness that is already in place?

• Before approaching a packaging agent at one of the major agencies, be sure you have at least 1 element in place in order to get their attention (that element could be name cast, director, or producer)

• Remember that when going the packaging route it can take years before your project gets off the ground – so be patient…

• A Producer who knows how to package their own projects is in very high demand right now!

• If you’re a new Producer and can’t make headway or are facing road blocks and catch 22′s, then go get an experienced Producer or EP on board that has the relationships in place that you need. Don’t be afraid to partner and collaborate with someone else until you make a name for yourself…

• Add value to your project by shooting a sizzle reel or have previous work to show your talent – this will help get potential partners interested in working with you…

• Relationships, relationships, relationships! It’s the most important thing to getting your film off the ground – work on building key relationships and you’ll fast track moving your project forward…

• As a new Producer optioning source material is a great way help get your foot in the door when you’re first starting out – everyone’s looking for a ‘brand’ to go on…

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So what about you? For any of you that attended AFM, what were your major take-away’s? And what was your experience at AFM like in general? Please share below!

One of the most common questions I get asked is about realistic revenue potential for a film. It seems everyone is focused on just how much their film is going to make. OK…I’m not knocking that because after all, if you are going to try and raise money for your film then you better darn well be thinking about where the ROI is coming from.

One thing is for sure though – if you’re out there raising money for your film in today’s market, you probably don’t want to be going the 100% private equity route unless you are a micro budget film. Otherwise, you need to be mixing it up with everything from crowd funding to tax incentives to pre-sales to debt financing….. but check it out - it all starts with a realistic budget and realistic sales projections for your project.

I have to emphasize this because almost every day I read a Business Plan that knocks me off my feet with how out of touch it is with today’s market. Literally! Over-inflated revenue projections, unrealistic and outdated distribution strategy, budget that doesn’t ‘fit’ the production, and so on…..

Eventually I decided to teach a course on how to prepare a proper Business Plan for today’s market. And not just any plan — one that incorporates Distribution 2.0 distribution revenue…. so that it’s not some outdated template for sale on the web….it’s custom to today’s market realities. I also created this course to give people an affordable option for getting a Business Plan done. To hire someone to create one for you (including me!) it can cost in the thousands of dollars (and for good reason).

So here’s the deal — for a few hundred bucks you can join me in a small group intensive, delivered by phone and on the web (so you can ‘attend’ from anywhere in the world),starting on Monday where I’ll walk you through the process of creating a real (and realistic) Business Plan for yourself…. I’ll even through in sample Business Plans, revenue tables, projections charts and other stuff for you to emulate…. so it’s really plug and play.

Why do you need a Business Plan now? Because if you have any intention of trying to get your act together before the end of 2011 and start the process of moving your project forward, then putting your plan on paper is the obvious first step. Nuff said! 

So you want to read more about the Business Plan 2.0 Boot Camp and register in the next 48 hours so you can save $50 on registration? GO HERE NOW. 

And so you don’t just take my word for it, here’s a little video from a past participant of the course….

Still skeptical about attaching cast to a project without financing? Well I’m back with another case study in my ‘myth busters’ series to show you skeptics that in fact, packaging without financing is possible. (If you didn’t see Case Study #1 from last week, it’s right here).

One of the most common challenges I hear about here on Independent Film Blog and over at Film Specific is about packaging talent without financing in place. This of course comes about in the first place because of the old Catch 22 (need talent to get financing, and need financing to get talent) that most filmmakers find themselves in.

Wanting to debunk this Catch 22 myth once and for all, I’m starting a case study series featuring Producers who are out there doing it. Yep it’s not just me who’s having success getting talent attached to my projects without financing in place, many others are succeeding as well!

Ever since launching the $1 Million Blueprint interviews, a group of savvy producers have been out there hustling to get their projects moving. My goal is to feature some of them here and inspire you to take the leap for yourself.

So without further ado, today I’d like to introduce you to Writer/Director Chris Kohout, who is out there kicking a** and taking names on his project Live Rounds.

What is the name and log line of your film?

Live Rounds – When a team of bounty hunters is contracted to bring in a young thief, they soon discover their target is innocent, and they’ve been hired by a ruthless and powerful drug lord who wants the kid dead. Refusing to hand him over, they find themselves on the run from their own employer.

What is the website for your film (if you have one)?

http://liveroundsmovie.com

What is the budget (or budget range) of your film?

2M

What is your current financing plan?

60% presale MG, 20% tax credits, 20% private equity

What is the packaging strategy for your film and what have you done so far?

Find that balance between names that distributors love, and what the budget can support. We got interest from Sean Bean and Lucy Liu, but they ultimately wanted more money that we could swing. And, the dreaded ‘first-time director’ phrase was mentioned.

So the retooled plan is go after a larger group of smaller names, and do an ensemble feel with Christian Slater, Jennifer Carpenter, Ving Rhames, James Woods, Peter Coyote and Tricia Helfer.

What are some of the obstacles (if any) that you’ve encountered and how have you overcome them (or not!)?

It’s been easy enough to reach talent, especially after getting an LA casting company on board because they loved the script. Getting talent attached is trickier, of course. I made the first calls myself, and got Peter Coyote attached after he read the script. But that was through his French agent, and I think they’re easier to deal with. I don’t have a huge statistical pool to draw from here, but whenever possible, I called the talent’s European agent/manager, and had a more pleasant conversation than with their LA people.

So far, the biggest challenge is landing the MG deals with distributors. We’re trying for a domestic deal first, which is harder, but should set the stage better for us if we can get it. Even with a good contact who is receptive, people are so busy and see so many deals, it’s hard to command attention. I just keep track of everything in Google docs, and keep coming back politely but persistently.

What have been some of your biggest mistakes or wastes of time/money so far?

I did try a Kickstarter campaign for the graphic novel of my screenplay. I spent a few weeks on the pitch video, it was quite slick. Maybe too much so, since it didn’t have that ‘starving artist’ vibe that seems to do well there. It went nowhere. Deadsville. I pulled the plug after 3 weeks. 

I learned later how common that is though. While some campaigns go viral easily, I think most of those are for physical things being built, like the watch made from an iPod nano. Creative projects like books/films need a sustained publicity campaign after launch that pushes it every day. It really is like a full time job, driving traffic to the campaign page. I didn’t do that.

I don’t think the campaign was a mistake, I just didn’t follow through as hard as it required. One nugget of wisdom stood out from the post-mortem: people tend to give money after they’ve had a conversation about your project. Which is a very different experience than just seeing an ad for it. I had ads all over, but I didn’t put in the time to engage people personally.

Another regret: I had a super friendly contact at a distributor, and she was offering me everything I wanted to hear: contact with her well known actor friends, chats with investors, the whole deal. At some point in our back and forth emails, I must have shared too much about my fledgling status and my appreciation for her help. She just up and disappeared, I never heard from her again. I play it a little cooler now.

What resources or tools have you found most helpful during this process?

Your site really is a great resource. I devoured all the interviews, and made a ton of notes from them. In fact, I’d say almost all of the people I think of as most helpful, I met because of FilmSpecific. Either in an interview, mentioned in an interview, or the forums. 

I also have no problem calling people and asking to buy them coffee or lunch. And then shutting up and actually listening to them! They know a lot more than I do, so I go into sponge mode. I get a lot of good connections from that.

In terms of screenwriting, I’m a huge fan of Blake Snyder’s books, and almost everything in the Michael Wiese library. I’ve read so many books, good and bad. Then I discovered his catalog, and noticed he mainly had only the best of everything I’d read already.

If you had to do it all over again, what would you do differently?

I’d be able to move a lot faster, just having picked up knowledge so slowly along the way until now. I’m sure negotiating distribution deals will offer plenty of opportunities for regret, but I’m not quite there yet. But when I am, I’ll definitely reach out for help before committing to anything.

What are your next steps from here?

Continuing to push for an MG deal with distributors, collaborating with the casting company on more cast ideas, following up on private money opportunities, polishing the next screenplay I want to direct after this one, getting more familiar with the production company I plan to hire.

I’m also making a short film specifically designed to show I can direct the type of action film I want to make. It even has a few action sequences straight from my feature script.

And thanking my family for putting up with all this.

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Are you out there packing a film in the marketplace and want to tell me about it? Just drop me a line with details and I’ll be happy to feature you in an upcoming post and help raise awareness for your project. (Hey you never know who’s reading this and who might want to get in contact with you to get involved with your project!)

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Oh, one more thing – in 2 weeks I’m holding my *virtual* Business Plan 2.0 Boot Camp where I’ll be working with a small group of filmmakers via phone/email not only to build a proper business plan, but to strategize the packaging and financing of their films. Early Bird Registration ends in just 3 days, so click here  for more info and to grab a spot in the class! 

We’ve been talking a lot about financing and packaging lately but one thing is for sure when you’re in the thick of those things and that’s at some point you’ll be sitting there asking yourself – What Can I Do Next? What can I do now that all my irons are in the fire and I’m waiting to hear back from people (both on the talent and financing fronts)?

Look, I hate the waiting game as much as the next person but it’s a part of the process I’ve learned to tolerate (begrudgingly of course!) so I wanted to share with you a few of the things I do during the inevitable waiting period to keep being proactive and see if maybe it can help you at all.

So here’s the situation – let’s say you have a script and you’re going out to talent to try and attach someone for the lead role. Congratulations you got past the gatekeepers… they are going to read the script, pass it on to their client, and get back to you. So what do you do in the mean time then? Here’s a few suggestions:

1. Go out to other talent for the same role – I never just go out to my first choice for a role, I go out to 3 or 4 actors simultaneously. Remember, renegade producers do things simultaneously, NOT sequentially!

2. Go out to talent for other roles – most of the projects I’m working on have 3-5 key roles each and I pursue all of them at once. What’s great about this approach is that if I get interest from one of the roles, then I can leverage that to get others interested too.

3. Start researching Distribution companies you’re going to approach once you have your package in place - one of the things you can do while you’re out to 5 or 10 actors and no one is getting back to you yet is to start planning your next moves. Meaning, once you get your talent attached you’re probably going to want to approach distributors for pre-sales…. so why not do all that leg work now and get it out of the way so you’re ready to pounce once your talent is in place.

4. Get a budget done if you haven’t already - ideally you will have gotten a budget done for your film before you go out to talent, but I’ll be honest that it doesn’t always work out like that. So in that case, while you’re waiting to hear back from your talent it’s a good time to find a line producer or UPM in the state or country where you’re planning on shooting, and pay to get a budget done. In fact, I would get 2-3 budgets done for different states/countries that you’re considering so you can see where your biggest cost savings are going to be.

5. Start researching potential sponsors (if applicable) – Like I said in a previous post about Financing Micro Budgets, many producers these days are utilizing sponsorship dollars to fund part of their budgets. One producer in the Film Specific Forums said he followed my advice on packaging and was already making headway with casting (yay!) and was now researching companies he’s going to approach for sponsorship dollars once his talent is in place.

6. Look for more projects – savvy producers are always on the hunt for new material. So while you’ve got all your irons in the fire on project #1, go find another project to get started on, and then another. I like to have at least 3-5 things on my slate at all times at various stages so that even if one project is lagging, there may be momentum with another one, and therefore something’s always moving forward.

What about you? What ways do you find you can be productive during the waiting game?

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Don’t forget, only a few days left in the Film Specific Summer Promotion! Need help figuring out packaging, financing, and/or distribution for your film? Then come get some good ol’ fashioned personal guidance on your project! CLICK HERE to get started!

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Want a few tips to get you going with packaging your project? You got it!

As I’ve mentioned in passing around here, lately I’ve been attending a lot of pitch meetings for various projects I’m producing, and as I’ve said time and time again you can never be too prepared for one of these meetings. In fact. I tend to over prepare every time and make sure I have answers to any possible questions that even might be thrown my way. The funny thing is that in most cases, only some of the questions get thrown my way that I’ve prepped for, but every once in a while they all do. So I’ve learned to be ready for that ‘every once in a while’!

I thought I’d show you the outline of notes that I make before I go into a meeting and how I tend to prepare. Hopefully this will help give you some ideas of what you need to be doing as you set up your own meetings.

Oh, and imagine this is for a feature film and you’re pitching to either Agents or Managers about getting talent attached, or a Production Company about coming on board as a partner.

The Talent

Let’s say you’re going into an Agency or Management Company to pitch about getting some of their talent attached (whether it’s actors or directors). This may sound like common sense but you better have fully researched who their clients are, watched samples of their work, and know what they’re working on now and coming up next. All this info can be found on IMDB Pro by the way so there’s no excuse for not fully vetting their clients. Go in with your ‘hit list’ of who you are interested in and be prepared to discuss why you want them for the job based on previous work they’ve done, etc.

The Writer

Next…if you’re the Producer on the project and presumably not the writer of the script you’re pitching, be prepared to answer questions about the writer. Does he/she have any produced credits or are they a ‘new’ writer? Since I mostly work with new writers, I don’t typically offer up information about them unless asked. And if I am asked, I’m ready to talk about how talented they are, with a unique voice, high concept ideas, and even what they’re working on next.

The Pitch

Have your log line down pat! Your log line should be one or two sentences only and should explain what the film is about but also allow the person you’re pitching to put it in context. For example — your log line might look like this:

“It’s an Action/Adventure story about a bank robber who gets caught and goes on the run to Bermuda where he starts a new life and a new identity. It’s in the vein of “Minority Report” or “The Bourne Identity”

Obviously this is a totally bunk log line but it should give you the idea of what the structure should look like. Be sure to include genre and references to other films which helps paint the picture for the person receiving your pitch.

Financing Plan

I have never gone into a pitch meeting with financing in place. Not once! But I have a Financing Plan at the ready to spout off – and you better too! When they ask if the project is financed, I say ‘not yet… but my strategy is to package the film first and then go after Pre-Sales, Tax incentives, and gap loans’ (or something like that). If you’re pitching to the right people (ie: high level enough) that’ll be enough for them nod their head and move on to the next topic in the conversation. That’s right – they’ll just assume you know what you’re doing.

The important part here is that you’ve already thought out your financing plan and can say it with confidence. Don’t waiver or be wishy washy here — you’ve got to have conviction that if they pass on your project to their clients you are capable of getting the film financed.

Supplementary Material

I usually carry my iPad 2 with me to pitch meetings and have either a teaser video or pitch packet to show, and I find it’s a great way to open up the meeting and set the stage for things and show the other person what the project is about. Remember, a picture is worth a thousand words!

Some notes on time….

Remember these are busy people and you should plan to be out of there in 15-30 minutes. That’s why it’s so important to have your outline ready and be prepared to present your case and discuss your most important points because if you waste time with small talk or other nonsense you might risk not giving your full ‘presentation’ as it were. (by the way, I usually have my outline memorized so I’m not reading from a piece of paper – but always have my little moleskin book with me, page bookmarked, in case i forget something and need a quick reference).

Taking Notes

Speaking of that moleskin book….. I have it out and am usually scribbling little notes as I go so not to forget the important bits later – especially if they start suggesting other talent that they represent… you’ll need to write that down so you can research them after the meeting.

What Else Do You Have?

Finally, I’m always prepared to talk about what else I have on my slate because sometimes the person you’re pitching to doesn’t jive with the project at hand…but likes you and wants to know what else you’ve got. So have your other log lines ready to rattle off!

The Order

Usually my pitches go something like this:

• Give the pitch/log line

• Show video or pitch packet on iPad to give visual idea

• Mention the directors or talent I have in mind that they represent (if pitching to agents or managers) or the talent prototypes I have in mind (if pitching to a Production Company)

• The Financing Plan

• Talk about what else I’ve got in the pipeline

In Conclusion

Feel free to create your own version of this but the last point I want to make is this: be flexible enough to go with the flow of a meeting. For example, you may not have time enough to hit on all these points, or the person you’re pitching to may not be interested in seeing anything on your iPad (or they’re attention spans are so small they move on to the next topic mid-video)…. but whatever the case is don’t take anything personally and just go with the flow! Remember, you want them to like you too so you must be flexible in your approach and not get snippy!

I’ve been in meetings before where this whole outline goes out the window and I’ve had to think on my feet… fast! So the point is don’t be so rigid in your delivery that you can’t engage the person, meet them where they’re at, and still get your point across and ‘sell’ your project.

Which brings me to this — remember the whole point of a Pitch Meeting is to ‘sell’ your project to them… so don’t forget that this is the main purpose!

So what about you? How do you conduct your Pitch Meetings and how do they differ from what I’ve outlined above?

And did I leave anything out? Let me know what you think by commenting below….

Additional Resources

For more in-depth material on Pitching and Packaging, here’s some additional resources which you can find on the Film Specific website:

• Creating and Pitching A Killer Concept: A Virtual Seminar with Stacey Parks

• A Screenwriters Guide To Breaking In: A Virtual Seminar with Michael Elliot

• The $1 Million Indie Film Blueprint – Part One and Part Two

Last week I had a lot of positive momentum on the film projects I’m producing. Isn’t it always like that – when it rains, it pours? (hey, I’m not complaining!)

But let me tell you it was no accident. I’ve been actively pursuing several things simultaneously, not sequentially. Full court blitz on all fronts. And yes, I’ve found this to make a big difference especially in terms of gaining momentum with my projects. I like to call it Renegade Producing

I read Graham Taylor’s LAFF keynote speech and it confirmed for me how important Entrepreneurial Filmmaking is in today’s marketplace. And by entrepreneurial I don’t mean DIY or Direct Distribution….although in some cases, it could be that. But for me personally, I’m aiming much higher than DIY… I’m beginning each project aiming for the top and getting in business with distributors from the beginning (in the form of pre-sales) so that there is a solid structure in place from the get-go. Who wants to hustle up financing for a film only to find out later there are no buyers for it?

I have to say it drives me crazy when so called ‘experts’ deride the notion of working with distributors…. what’s the deal with that? If you have a project worthy of the market, why wouldn’t you want to get into business with distributors? Why wouldn’t you want to get paid for your work and make a sustainable living as a creator? Honestly, I just don’t get it but maybe anyone reading this can enlighten me?

Let’s face it, as GT says there are ‘thousands of permutations to how movies are financed, distributed, and consumed and who own them’. Personally I don’t think you can afford NOT to explore every option imaginable when putting your film together. The clients I work with on a daily basis are all converts to entrepreneurial filmmaking and are all succeeding wildly with getting their films into the hands of top talent and big partners. No excuses, just straight to the top.

So I turn this over to you – what are you doing to be a Renegade Producer? Are you utilizing the ‘simultaneous rather than sequential’ approach? And what results are you seeing?

There was an interesting discussion recently in the Film Specific forums started by a writer/producer looking to move their project forward. The person was asking how best to attach a name director, specifically how to get past the agent gatekeepers at CAA who represent the directors they are going after.

This is such a great question because I know so many of you are in the very same position – got a great script and need attachments to move the project forward / attract financing…

So what to do?

Well in this particular situation the film in question is budgeted in the $2 – $3 million range. And at this budget level there are 2 things much more important than bringing on a Director. They are:

1. Having a marketable genre, and

2. Bringing on bankable cast

So in this particular situation the recommended course of action is actually make sure you’re dealing with a marketable genre first and foremost (horror, thriller, action, Sci-Fi) and then go about attaching bankable cast for 2-3 key roles in the film. Approaching it this way will help with financing a film at this level – whether you’re planning to finance with private equity, or a combination of pre-sales, private equity, and gap.

Now what if you’re not up to the task of dealing with the gatekeepers and getting cast attached on your own? Then it may help to partner with a bigger Producer first, someone with relationships and a track record who can help facilitate getting that done. But remember, even when trying to bring on a bigger Producer as a partner you have to be clear on what you’re bringing to the table. If it’s not one of the Big 3 – talent, money, or distribution – it better be a very commercial project that would motivate a Producer to want to partner with you. Otherwise, it seriously helps if you have made some progress on any of these Big 3 before trying to bring on a Producer. In other words, it boils down to what we talked about in the previous post No Money, No Cry whereby you need to start somewhere and really try and bring on some assets to your film yourself.

NOW… what about for films that aren’t budgeted in the $2-$3million range? Well anything lower than that, the same rules apply ie: Cast and Marketable Genre are more important than Director. It’s once you get into the $10 million and higher that Director becomes equal to, or in some cases more important than cast…especially with high concept action, thriller or sci-fi films that really require an experienced director to execute properly. So in certain scenarios with higher budgeted films, the strategy actually becomes to bring a ‘name’ Director on board fist, and then leverage that to attract bankable cast. Financing at this budget level is almost always accomplished with a combination of pre-sales, private equity and gap and having a name Director on board in addition to Cast and Producer actually becomes very critical.

So where are you at? What are your thoughts on all this and what are you doing to effectively move things forward in the right order with your projects? Comment below and let me know!