With a bunch of talent, creativity and the adequate funding, the possibilities are endless when it comes to filmmaking. This couldn’t be a more better time for ambitious filmmakers to showcase what they are truly capable of thanks to crowdfunding. Movies like Veronica Mars wouldn’t exist without the dedicated fans and crowdfunding models and we can expect even more ranging from revived television programs to some interesting new ideas. But even the most seasoned professionals can experience struggles even if their projects exceeded their funding goals. Crowdfunding is still relatively new to veterans and there will always be risks involved but you can minimize these pitfalls by following a couple of tips.
Finalize the Team
Producing the film by yourself while meeting the expectations of your backers is a massive undertaking no matter how much money you have and you don’t want to keep them waiting either so be sure to recruit some members before you even plan the specifics of your project. Even a single person can make a huge difference and will definitely convince people to back your project with confidence. Get the actors, costume designers, salespeople and other key members in line before you plan the crowdfunding.
Come Up with a Huge Expenses Plan
Assembling your team in advance will lay the foundation of your expenses. From there, you just need to provide good estimates of the cost of everything else so you can set up a proper funding goal. Many project creators find themselves needing more money than the funding goal indicated so it is best to overestimate a little just in case but careful planning should prevent you from unexpectedly running out of money. Remember to include the costs of any rewards you plan on giving out to different tiers as well as marketing materials and even taxes.
Make the Crowdfunding Page Count
Spend as much time as you can in perfecting your crowdfunding page before making it public so you can get as many backers as you can. Start with a good PR plan and give potential backers a good look at your vision and what you have done so far with the film. Make sure your social networking profiles are updated just in case people want to make sure that you and your team can get the job done. Be honest and open highlighting the potential risks and figure out how you will issue updates to your backers.
Crowdfunding a film is a tough and exciting quest but if you get it right, you could have enough funds to do even more films for your fanbase without asking them for funds in advance.