Kim Production Diary: 5 Steps to Writing a Business Plan

Kim Production Diary

We’ve finished writing our business plan for Kim, the last step before we can seriously begin fundraising. It was an interesting process, and it forced us to think through 5 basic aspects of our production.

The first was figuring out how to define the film, and how to talk about it in a way that is both true to our vision and compelling enough to get people as excited about it as we are.

Practicing the “elevator pitch” with anyone willing to listen was really important, until the pitch was refined to a point where most people react to it with an enthusiastic “that sounds like a great film!”

The best bits of advice we found for this were: “describe in one sentence your story, and the twist that makes it different,” and “when you touch their hearts, they’ll open their checkbook.” We had to learn to describe our film succinctly in a way that is emotionally moving.

The second thing we had to work through for the business plan was a thorough and realistic budget for the film. To talk about that in detail would probably take a few blog posts, much more space than I have here today.

The third thing was to look at other similar films and see how they did financially. We looked at low-budget psychological science fiction films, that played down action and violence, as well as films that were more artistically oriented and films that played with the conflict of reality and fantasy. While this can’t give us any guarantee how Kim will perform, it can at least show us how it might do.

Fourth was to research and understand film marketing, and all the opportunities and challenges facing independent filmmakers today. We worked to identify our films assets – its strengths and the things that make it unique, then how to identify audiences that value those assets, and then how to contact and communicate with those audiences.

And fifth, was to look at the distribution options available for independent films. This proved the trickiest part, because it’s the thing most likely to change in the 12-18 months between now and when post-production is finished. We made an inventory of all the current distribution options, everything from VHX to Vimeo-on-Demand to iTunes to Tugg, to traditional theatrical distributors. We’ll have to continue monitoring and researching all options over the next year so we’ll be prepared when the film is finished and ready for release.

I hope you found this quick overview of our process for writing a business plan interesting, and helpful if you’re working on your own film. For us, it’s on to raising the money to make Kim, More on that as the process proceeds.



Archives