Business Plan Templates
A business plan is different than a specific film proposal targeted to investors, although it can be used in such cases to demonstrate the solidity and goals of your company. Following are items that are useful to include in a business plan One of the toughest challenges of putting together a business plan is the budgeting aspect. How can you possibly predict your potential revenue when just starting out If your company is client oriented, it is obviously easier as you can use your rate card, calculate the approximate (and realistic) jobs you hope to secure, and draw numbers from that. While it is easy to estimate expenses, it is much harder to anticipate earnings for creative projects, especially as it can take years to reap any revenue, if ever. Anticipated revenue sources for these budgets have to include investors, sponsors, grants, and outside income from other sources of business, like commercial work. Chances are (and I know from experience) that you won't be completely on the...
. . . which brings me back to the Business Plan. It is this colorful document, positioned at the head of the Memorandum, which will go most of the way toward getting you the money necessary to produce your film. For some, particularly those with a proven track record, an elaborate investor presentation might not be necessary. But for first-timers, or for those who don't make films that often, like myself, it's a major consideration. I've been doing it for over twenty years. On Burt's Bikers, a docudrama about mentally handicapped children in the Greenwich School System, our Business Plan presentation got us The Beatles' song I Will for free, because people at Apple Records saw it and responded to it and it also got us Harry Chapin's commitment to write an original song (alas, he died before he could do that for us), and it got us Ennio Morricone's pledge to write an entire score for free (alas, we were afraid of the time and communication problems involved, and we backed out)....
What investors could you bring into the business You may not have a large cache of personal funds with which to start your business, so look for friends, family, colleagues, and private investors who might invest in your business. You can consult with an attorney and or accountant to help prepare an investment offering that details your cash flow projections and notes, how the funds will be used, tax consequences, and a projection of returns on the investment. This document also includes information about the producer's team, the manager of the project, and other details. You can grow your business from these investments without giving up ownership and personal control. If you have a good credit rating, can prove your business integrity and expertise, and have compiled a strong business plan, you may qualify for funds from a lending institution. In order to receive these funds you'll also need to offer up some form of security like a home, a boat, or land.
And just so you know, after all this in-depth explication about the nature of raising development money, I put up the 8,000 for The Sweet Life myself rather than go searching for it, and concentrated my time on the creation of the Business Plan and Memorandum, which would serve to secure me the funds necessary to put the film in the can, or the digital video on the tape . . . whatever.
I definitely think planning is an issue and the scary thing you hear when you start a business is that you should do a business plan, says Larry. You'll look at these business plans out there that are an inch thick and done by an MBA and you're going, 'I can't do that and I won't even think about it.' I always tell people a business plan can start out small and simple. It can just be a notebook where you start putting your ideas before you start your business. It might include your mission and what you plan to do, but a business plan should also get into projections. Here's where I think our sales or revenue is going to come from. Here's where I project our revenue to be the first month, three months, six months from now. So planning is key. So the business plan is something that should be started when you first begin thinking about the business. If you go for financing because you need operating capital or you need capital to buy equipment, the banker will want to know something...
When a businessman starts a new venture, he writes a business plan wherein he maps out what the new venture is, what the assets of the business are, how he would like the business to grow, and what he is going to do to implement the venture's success. When I propose a businesslike approach to an acting career, I suggest that you as an actor need a game plan for how you would like your career to go. You must decide what the attainable goals are for you and then try to attain those goals. Deciding you want to get off the bus and become a television star is an unrealistic goal. You can get off the bus, but it is unlikely someone will award you with a career. However, setting goals such as gaining experience in a particular medium is realistic.
That road with a script and had to form a company to get it made. In the beginning there was no company structure. In England you have to have a director and a secretary to start a company, so I was the director and a friend of a friend was the company secretary. Unfortunately, she didn't realize quite what hard work filmmaking is and after we'd shot the first part of the feature, she left. So then there was just me. As far as a business plan, I had gone to a business course and had constructed a plan, but it was very connected to the film we were shooting. Now the company mission is focused on long-term growth, with feature films being our goal.
When you are ready to set up shop, an accountant and legal advisor can help you determine the best structure. Although you might be excited to get moving with your film projects, take time up front to write a business plan, no matter how simple it starts out, so that you have specific goals and strategies for achieving them. Well-laid plans will keep you headed in the right direction. So says my superhero.
Better Business Planning
A business plan is an essential document for anyone commencing a new business, already in business and critical for anyone seeking funding from a venture capitalist. The business plan needs to be comprehensive, well thought and should contain sound business reasons. You can get all the info you need here.