Negotiating Is a Producer's Life

Negotiating is probably the number one task that I do as a producer. Day in, day out, I am negotiating talent and crew deals, investor and operating agreements, union contracts, and vendor costs.

Each production poses a new set of terms for every aspect of a person or company's involvement. No two projects are exactly the same.

So consider that I have about 10 projects going at one time. This means I am negotiating x 10 every day.

The good thing is that it gets easier after a while. You create relationships with crew and vendors and investors, who are already familiar with the kind of deals you like to make. So there is a short cut the next time you negotiate.

However, there are those projects that have you feeling like you are starting from scratch. You need a new investor. You are filming in a new location. You are working with new cast and crew. And the process starts all over again.

But this time you're smarter, savvier, and, most important, you have experience. With that past experience, you know the tools upon which you need to lean to get that new investor and find the perfect location, cast, and crew. You also have connections to colleagues who can provide ideas and short cuts to make life easier on your new production.

You know what works thus your negotiations can be focused.

From experience, you will also have greater confidence. And confidence is a key ingredient to great negotiating. You are confident that the deals you are negotiating are strong and allowing you to make the most cost effective and creative production.

Negotiating can be intimidating at first. And in our world of indie filmmaking, it can often feel like begging. But remember, a film is a business. And negotiating is an art form. Believe in your product and your work and over time you will become a master negotiator and hopefully be fulfilling your dream of becoming an award-winning filmmaker.

So Much to Talk About...

That's what people love to do in Hollywood. Talk. I have this project and I have that project and I have this other project. Oh wait and I have that project and this one. I have had many meetings in which we both yammer on about the multiple projects we both have going.

Now that is the life of a producer. It is non-stop project after project and it's what keeps us going.

I love to work. I love what I do. If I could talk about 50 projects at once, I would. But I realize that I need to be focused and hone in on the projects that I feel are ready to go.

As a producer, I have so many irons in the fire and potential opportunities that it can be overwhelming. But there's always that sixth sense that comes into play and tells you which ones you need to be focused on at any given time. Without that, I could see a producer spinning way too many wheels and not achieving much.

Right now, I have a film in theaters, a DVD/Book set for sale, a DVD online for sale, a DVD for sale in stores and elsewhere, a film in post seeking a festival premiere, a film (a doc this time) in production and a film in pre-production. I also have three features and two docs in development poised to kick my ass at any given moment.

That is the day in the life of an indie producer. Did I say I love it? I do.

And none of this includes the time it takes to consider new projects and network and publicize the work we are doing.

Film is a lifestyle. It's a lifestyle I love. Just last night I went to the LA premiere of a friend's film starring A-List actors. It was super fun and I am super excited for their success. Am I jealous? Heck no. (Okay well maybe a little. Fine, a lot!) But I do expect the next film to be made with me. Now those are the kinds of expectations you will find here -- whether or not they actually happen -- ha!

Finding Investors

There is no magic formula to finding money for an independent film. Even the established financiers look to wealthy individuals or companies to open up their pocketbooks and back their movies. For every film being made, someone had to pitch a money source in order to secure the financing. This idea of having to go out and hit up people for money can make even the most outgoing individual weak in the knees. I won't sugarcoat it. It's not easy and a lot has to do with finding the right investor at the right time. And it means hitting up a lot of dead ends before finding an interested party.

Your passion for your film being made will help carry you through the process. You need to feel so compelled about getting your film made that you ignore your weak knees and approach those wealthy people that you feel should be able and open to investing in your film. You may be saying to yourself, I don't know any wealthy people. That may be true, but you may have some friends or friends of friends who do. Don't be afraid to ask around. And don't be afraid to mention you are a filmmaker when you meet a wealthy person and let them know you are always looking for investors for your projects. You never know when or where you will find a lead to an investor interested in movies. 

To date, every film that I have produced has been backed by private equity. Sure, I hit up all of the established studios, mini-majors and financiers at the same time. However, I have been able to find the private money to back the film before finding studio funds. I decided I wasn't willing to let my fate be in the hands of the film companies that have thousands of projects banging down their doors. I decided it was worth it to me to go out of my comfort zone and approach wealthy individuals for my production budgets. That's not to say I wouldn't welcome the day a studio called and gave me a greenlight. In fact, I pray for that day. But until that day comes, I will keep on sussing out and approaching people with money.

My advice to a filmmaker thinking of approaching private investors with their film would be to start small. You may even want to do a short film first. Then make a film for less than $100k. Then one for less than a million. Work your way up to the million plus budgets over time. This way you will have the experience that will help you to ensure your investors make their money back. One of the biggest problems we are seeing in independent film is that billions of dollars are being used to make films each year and a large chunk of these investment dollars are not being made back. That means this industry is losing millions each year. And how can we sustain a thriving independent film industry when the amount of money being gained by the industry pales in comparison to the amount being lost?