Ind-E-Focus

So you’ve been developing you’re film idea for quite some time now, but still nobody is taking you seriously! Therefore you need to take things to the next level, start building a base around your project, a “wall” if you like, strong enough to hold everything together in one place.

One thing that’s taken for granted in the entertainment industry is the business side; if you’re 100% creative through and through and have never even given business studies, accountancy, legalities etc a second thought and don’t intend to, than an independent career may be the wrong decision for you- unless of course you can instantly afford to pay somebody to take care of this side of things; But if you do intend to take this on independently, the good news is, it actually doesn’t need to be a daunting experience, there’s plenty of support out there for start up businesses, it’s just knowing where to look! If you’re reading this, then you are starting in the best possible place, the internet!

So why do I need to set up a business? You may be asking, but the truth is you already are a business; you’re already trying to sell yourself and your project to others, so therefore you are a business; the reason why people aren’t taking you seriously though is because it isn’t official; most people want to see certified documents, they want a company name and a nice flashy business card thrust into their hands. But it’s more than that; setting up your business enables you to protect yourself and your project, it allows you to take control and be you own boss, but what’s more…it’s a requirement if you want to succeed as an independent artist!

So now the next step is to look into other businesses that are doing the same as you, ask around, check the web, read the books and learn about the industry you’re in. Find out what’s fashionable and where it’s happening; look for that golden nugget of a gap in the market and go for it!

But before you start dashing off to the Capital to set up a Corporation that’s new, innovative, fresh and will beat your competitors off the map…take a step back, be realistic and start locally.

Your home town is the best place to begin your business, even if it is just to get you started. Look around at your region’s start up business schemes, events and support it has to offer; you are more likely to get help if you keep it local rather than heading off to the centre of London, where everyone is doing the same thing and competition is rife. Talk to local business advisers and go to agencies, try finding out if anyone in your local area has or is doing something similar and begin one of the most important and ongoing processes of your career- get networking (keep the old saying “it’s not what you know, but who you know” in mind for the rest of your working days).

It’s also a good idea to get in touch with Business Link They have all the advice you can stand and more, from starting up a business through to maintaining and sustaining your company, you can either check their website, speak to them on the phone, or meet with your local Business Link Adviser, who would only be too happy to help with your business start up requirements.

Another useful tip, especially for students and graduates, is to get involved with any business enterprise schemes your university may have; some university’s offer personal mentoring, training modules, advice sessions, networking events, hot desks, office space and much, much more, and a lot of it you can get either for free or at very competitive prices.

So, the next question you need to ask your self is; have you got the commitment and the ambition, to turn your dream into a workable business?
If the answer is yes to this, then read the next two business start up sections and begin your professional journey!

COMPANY START UP

Now you’re feeling ready to start up your own production company, but before you do, you need to consider the advantages and disadvantages of owning your own business i.e. sleepless nights, stress, minimal private life etc Starting your own company and delving into a world that you are not quite familiar with can eat up all of your creativity, forcing you to lose sight of what this business is really all about- the film; so with this in mind the most important aspect of creating a business, is the people you work with! Ideally these should be individuals you can trust and who share a common interest in your field of work so they too can encourage your vision and feel the same inspiration and excitement. These are the people that are going to pull you through the endless times of ‘why am I doing this?’ and tears of frustration; therefore it has got to be the most careful selection process.

As with all companies there are disadvantages when you’re starting up such as the expense of formation and registration, the administration burden of filling out your annual accounts and returns. You need to make sure production roles are fairly distributed within your new team, make sure that you also cover these key areas with a Company Secretary, an Accountant, a Solicitor, etc.

You obviously need to choose what sort of business formation you are, but the most common form is a company limited by shares. This means you can issue shares to shareholders (this is usually the directors of the company) these go from 0% shares in your company to 100%.

Then once you have your company in place, you need to choose a name. This can be a very hard process as there are a number of regulations stopping you from just picking one and running with it and you cannot register your company if it has the same name as somebody else’s. There are websites you can visit to find out if the company name you are thinking of has already been taken, for example Idotter. 

To register your company at Companies House you can either apply directly to them, or there are many online company formation agents who will do all this paperwork for you at a fee; and they always offer packages where you can get an online accountant, or secretary, a business bank, or all three- but these can be quite costly and it is worth shopping around before applying with just anybody.
Once your company is in place, you need to start letting people know about it…

MARKETING START UP

One golden rule to realise about marketing your business and product is; it’s never too soon to start! It should be one of the first steps that you take. There’s nothing that beats ‘word of mouth’ advertising, but you obviously need to start somewhere, again, begin locally to spread the word; tell your friends and family and get them to tell their friends and family, put posters anywhere that you believe people will pay attention, get small, local companies involved in your advertisement scheme and just put yourself out there; the more imaginative the idea, the more fun this process will be. Next, make sure other areas are covered as in the internet, you can obviously use Ind-E-Focus; Facebook and MySpace are good places to spread the word, especially if you are reaching to a younger audience. You can also begin the process of getting your film credited on IMDB.

An effective method of marketing your film is to have your own website, this way you can show people your work in progress, i.e. displaying promotional pictures and trailers- this also allows the viewer to gain a real insight into what the outcome of this film is going to be.

However you decide to begin the marketing for your film and company, make sure it’s unique, effective and personal to you and keep in mind that this early advertising campaign will have an influence over what type of audience you will generate.

FUNDING

It’s a fairly obvious statement to make, but in order to turn your dream into a reality; you’re going to need financial support of some kind. There are a million and one stories about how independent filmmakers managed to finance their films; from the outrageous; i.e. donating their bodies to medical science (Robert Rodriguez) to the conventional method of applying through mainstream funding bodies. The main rules to consider when searching for funding, is there are no rules! Someone somewhere needs to finance your project and if the money isn’t coming from your own pocket (or a rich relative’s) then you need to think of what will work for your company and your film.

True independent film production is about financing films from sources that have no control over your story, your vision, and your creative ideas, however if you choose to take the conventional path and apply for funding from mainstream bodies such as the UK Film Council, or a screen agency, then you may need to be prepared to hand over a percentage of rights to your film (this will be stated in every funding schemes’ Terms and Conditions).

There are two main sectors with regards to applying for funds, 1) Creativity and 2) Business: We’ll start by looking at section 1) Creativity aka The Script! It’s pretty much safe to say that without a good screenplay to back up your project or at the very least an amazing pitch of your storyline, there is no point applying for funding. Your idea, your vision and the way that you write it down will essentially decide whether or not your dream is worth investing into. Potential financiers’ want to know that the script is strong enough to hold the project together, it is the base of the film, the skeletal structure, that will keep you on path throughout your whole creative process; everything will be judged from whether or not you have a compelling enough storyline, through to how professional the format looks. The good news is that even at this stage you can apply for funding towards script development i.e. Screen WM’s Investment Fund, but you will have to successfully pitch your idea first.

Although there are the odd few, that are lucky enough to get funding solely based on their incredible screenplays’, the rest of us, unfortunately have to consider  section 2) the business side aka the Business Plan! This is where it gets tricky; however, the Business Plan is a practical version of the script. It denotes the storyline of your project so far; who you are, your background, what you are trying to achieve; it requires you to look into your business industry further, giving you knowledge on your market, your audience and most importantly your competitors. The business plan is an organisation tool that will set out your project’s future, it is a necessity that can be overlooked by filmmakers’, but it will give you the upper hand in the long run, by clearly stating your film’s time frame, financial ability and potential success rate. It is what investors consider as a ‘security blanket’ for their money, it shows that you have thought about every aspect of your business and product, in the past, present and future making it more viable for their investment. A lot of film companies will choose to work alongside their Accountants or Business Advisers whilst producing a business plan, but if you can’t afford to do this there are many websites, courses, mentoring schemes available, that will guide you into creating a business plan suitable for your work. However it is advised to have an external business consultant go over your business plan, before sending it off to financiers’; again, try getting in touch with your local Business Link, they are only too happy to have an adviser talk to you about any specific requirements regarding your business and their consultations are free.

This Article has been submitted by Alice Reynolds a recent graduate in Business Management, Film and Media Studies.