Financing / Crowdfunding : What are the odds with crowdfunding? by Gregory McGee

Crowdfunding is really hard. You need to build a base crowd with people, and build anticipation for your project. If no one has a passion for it, no one will invest in the project. First, make a brief catchy video, show people why they should invest in your project, and follow up. Always follow up, respond to comments etc. If you are crowdfunding for a limited time, it is a full time job during that period.

A know a few successful who raised almost 400 k$ for their last project,, but it is a lot of work.

Nothing comes easy.

You have to build the crowd before asking for the funding as a rule. That's not as hard as it sounds. Basically you have to find a way, through short stories, or audio dramas, or other content you give away free to create a relationship with people and build an audience. When you have that audience, you can use them to fund not just one picture, but dozens.

The thing most filmmakers do incorrectly is think only about the film they are making, not about the people with money in their pockets who can fund a hundred films. Joss Whedon can make pretty much whatever movie he wants, because he has millions of fans who want to see whatever he wants to make. Sometimes, when you involve people who have an audience in your production, their audience becomes very supportive of the project. That's why people cast Brad Pitt in projects. He brings an audience with him. Producers license books for production because they come with an audience.

I think if you imagine all the people you'd give $100 to in order to see their next film, you'll see that it's because you've seen or heard other work they have done and you love it. You love them. So build that kind of relationship with folks perhaps by creating other kinds of media and I think you'll find funding your projects easier. After all, if 1000 people will give you $100 you can raise $100,000. That's not an impossible goal.

Nancy Fulton

nancyfultonmeetups.com

Greg McGee -- Kickstarter has an average success rate of 37%. That means 63% of all campaigns fail. Equity Crowdfunding has a success rate of 67% -- much better. Check out my website on the subject for more info. Or just ask me questions here -- I'm happy to answer!

https://www.equitycrowdfundingmasterclass.com/

Out of those 1500 people, some of them need to be your actual friends and family, not just FB friends. I just did a campaign and 98% of people who pledged were real-life friends, people I knew before FB. 2% were people I don't really know. So make a list of all the people you actually know and send a personal e-mail/IM. text, or phone call to each one of them. Catch up first, if you have to, see what they've been up to, comment on their lives, re-establish a connection first, don't just hit them up for money if you haven't talked to them in a while, that looks incredibly tacky and some will not forgive you for that. But bro, it's going to be mostly the people you know personally. Reach out to them individually, one by one.

When I raised over $1 million for my film, we had 893 investors total. We only knew 7 or 8 of them. Equity Crowdfunding appeal to strangers all over the world if you do it right. Everyone has Kickstarter fatigue now! Friends and family have been asked for money by everyone for 10 years now! That's why investing is better than donating. They will share in your success.

@David Willis: Equity Crowdfunding seems interesting. I am currently in a relaunch of a campaign that came close to goal the first go-round. Nov. 16th is a little late in the game for me, would consider if it was in September or even October. Any resources available other than your Nov.16th seminar? I'd like to learn more about it, thanks!

@David Wilis: I'm interested in Equity Crowdfunding. I am currently conducting a relaunched campaign after the first go-round failed due to almost-but-not-quite reaching goal. Nov.16th seems a long ways off though. I am going to check out some of Nancy Fulton's vids. Any other suggestions for resources I can check out now? Thanks!

Donn, congrats on your relaunch of your GoFundMe campaign. Looks great! Are you going to launch an Equity Crowdfunding campaign, too?

I am planning to watch a coupe of vids on Nancy's site to see what its about. I've had a profile on Slated.com for over a year, but have not approached anyone on it yet. I should be receiving a line-item budget within the next 2 weeks and the crowdfunding campaign was to raise money for a proof-of-concept to be used w/ the budget as tools in the feature scripts packaging to pitch to potential investors. That was my plan.

Got it. Nancy Fulton is a GREAT source of information. I highly recommend her videos and live events.

Hi Gregory McGee! I'd be happy to help –– I've got five years experience with Indiegogo on all their biggest and best indie film campaigns. And, I've written this book: https://goo.gl/xZmls4. If you're in the market for a campaign strategist, feel free to private message me here at Stage 32 and we can chat.

And as far as any kid of equity crowdfunding, Donn Swaby, it's pretty much dead. In order to even do it, you need an upfront investment of upwards of $5,000, which is why there aren't many indie filmmakers doing these types of campaigns. (Plus, in my not-so-humble opinion as an expert in both rewards-based and equity crowdfunding for film, it's pretty much the antithesis of crowdfunding.) Also happy to chat about that, if you're interested in knowing more.

All the best, folks!

If you're in L.A., you should come to my Equity Crowdfunding masterclass on November 16. I will show you exactly how we raised a million dollars that way. It's a bit more work than a Kickstarter, but it gets you waaaaaay more money. https://www.equitycrowdfundingmasterclass.com/

John T. Trigonis Hi, john! Connection request sent so we can hopefully discuss our planned CF campaign. Thanks!

Hi Greg, It's the 3 T's of Crowdfunding: Talent, Technique and Tenacity. If you think you need help in any of those areas...Start by learning from the Pros...Those who have pulled in millions and especially those who have done it in your field of endeavor. I am working on those 3 T's right now. Let me know if you want to join me.

From a professional approach, one of the biggest problems with funding a project is whether the amount asked for is realistic. I often see people asking numbers in increments of one hundred thousand and wonder if they have budgeted their (film) project. Credibility is essential but not a deal-breaker, do you have it? If not, your pitch needs to be extremely powerful.

From a non-professional approach, is your target audience interested in your work, or is it about your desire? If it is the former, it should sell itself, but if it is the latter, then you might need to scrap it or fund it yourself and hope that you can recover your money.

Hi Greg, Not sure how your project went, hope you got your money. But if you want to join me, help on my crowdfund for a period drama you will learn how to successfully crowdfund for yourself in the future as well as a myriad of other benefits. See my post today August 15 at the top of this page. Info@luminofilms.co.uk

Visit Stage 32 Blog, Education, Lounge and Script Services. I also have a list of sources in my ebook Funding for Internship and Scholarship Programs.