Paul Scherzer, an award winning movie and documentary maker of Hollywood has some snippets of fundraising advice to share with budding entrepreneurs across all industries. These advices are:a) Unique and could totally change the way you look at fundraising; b) Undoubtedly the secret path that takes you to success quickly.
You might have heard about the award-winning movie called “Manufactured Landscapes”, which Al gore called Extra-ordinary, Paul is the creator, fundraiser and marketer. The money that he raised has allowed Paul to travel all over the world, feature his amazing movies to audiences and make more. His hard-earned lessons about fundraising are not only relevant to film industry but also to every other industry as well.
Spreading risks, collaborating creatively and focusing and emphasizing on non-financial gains has led him to his immense success with investors, who are literally on the edge of their seats with Paul’s ventures.
So, let’s talk about few of the secret tips Paul uses for fundraising success:
1. Show them the value of non-financial returns.
Some investors simply want to be in the production of a movie because they love the thought of joining a crew of people making buzzes in the movie industry. It’s simply about getting to know online fundraising tips and sit down with more investors, sellers of movie making business and potential clients. Investors look forward to networking and you make sure that you help them trudge the dreary paths of tinsel town. Remember to show your investor how you can build him a long-term intangible gain. Online fundraising tips are really important for them and if done well, they would just jump on the thought of investing in you.
2. Presales are important!
Pre-sell your work to potential distributers before you approach an investor. What does it mean? Paul says that pre-sold his work to a bunch of distributors, theatres and DVD resellers, a movie that didn’t even exist. That is the whole idea here. Apply for a purchase order loan, which is available in most of the industries, if not all. In any case, if you cannot convince and bank or a financial institution to lend money for your business, Investors can do it by keeping your PO loan as collateral.
3. It’s more art than science.
Your business could potentially be around an idea that government is planning to back or promote. You have every right in the world to use that to your advantage. Paul mentions about a particular project of his, it was movie making in Canada. He got supported and funded by Canadian government to promote Canadian films, push economy and create jobs. What a wonderful way to raise funds! Make sure you are heard and your idea is legibly creating value, then all you need is the right fit with an authority.
Elon Musk, the creator of Tesla and a widely successful entrepreneur himself, has also talked about these same principles working for him in terms of striking deals with investors and building a long term relationship with each of them.