Seminars - Become Familiar With Film Budgets and Production
Costs
There are several seminars on how to use Movie Magic Budgeting©
but none on a different (and probably more effective) plane
of simply becoming FAMILIAR enough with budgets to allow you
to become conversant with those in the film industry who work
with budgets everyday – to be able to make intelligent
comments using the correct terminology used by all Studio
Execs, producers, etc. throughout the world. Or, perhaps to
just create a budget of a small unit or department. If you’re
developing a script for production, it’s worth your while
to find a pro. Creating an entire budget from scratch is tedious,
to say the least. But to sell a budget; that’s the fun
part!
Let's pretend for a moment that you've met a hot new Director,
Actor or Executive Producer, etc. with a script. Whoever you
meet, they'll be in love with their script and they'll be
very excited to talk with you about it. They want someone
interested in their baby and they want someone to contribute
to its success in any way. After the first ½ hour or
less, how do you segue into being their Film Director, Line
Producer, Producer, UPM, any Department head, etc.?
What are some real situations that you should practice which
would allow you to be conversant in the same ‘Money Talk’
terms used everyday in Film Studios everywhere.
Here's some real questions that would knock their socks off
and show that you're the one to 'Direct the Money' while they
get on with creating their next project (if you you're foggy
on some of these terms, be patient, you'll be very familiar
with them after a little reading):
1. Do you need help with the budget? (Don't agree to build
it from scratch - but know someone who can; find out what
you can about the script breakdown)
2. Do you have an idea of the Above-The-Line costs budgeted?
(Cast, Director, Writers, Producers)
3. What kind of bottom line do you have in mind for the final
budget?
4. Who needs to approve the budget? Will it be an independent
film or studio driven? (This is important for your chances
- if it's studio funded, you'll need all of his/her backup,
and if it's an independent production, find out which bonding
company is involved.)
5. What locations are in the script? (Suggest using the services
of various Film Commissions to scout for cost efficient locations
compatible their vision)
6. How many days of shooting are planned? (If no script breakdowns
are completed, recommend somebody you know to do it)
7. If union crew are planned for, find out how many shooting
hours a day are planned for? (Insist on at least 13 worked
hours per day, as well as a storyboard artist)
You get the idea. You need to know the 'lingo' of budgets
and you need to understand that those budgeted numbers need
to be directed. You'll also need to inspire confidence in
the Financiers, or the Bonding Company, that you know what
the weekly financial report card is all about (that is, the
universally standard Weekly Cost Report).
Most of those questions, with a little imagination, can also
apply to anyone who wants to upgrade to a Department Head.
Take my word for it; a Production Manager would be completely
blown away if a crew member started showing an informed understanding
of how budgets and costs could advance the Production Manager's
career!
During the Budget process, you need to recognize that the
person lending you the money to make that project (that is,
the financiers, the Studio, the Bonding Company, etc) want
some confidence that you know how to ‘direct’ those
funds during the shooting of the film production.
Enter the Weekly Cost Report. Outside of the actual final
cut of the movie, this could easily be the most important
document to your career. How it’s presented and how you
compare to budget is your Report Card to the people who hold
the purse strings to your career.
So how do you get familiar with Budgets and Cost Reports?
I've been a Production Accountant for 20 years and I've NEVER
shown anyone but a select few a Final Budget or a Weekly Cost
Report (the universally standard financial report card issued
to the Financiers and Producers every week) in that entire
time. They are considered sacrosanct by Studio Executives,
Financiers and Bonding Companies everywhere.
Well, seminars are a real world ‘let’s pretend’
situation where you get 7 hours of drilling and a few laughs
to learn what only the experienced Producers and production
Managers know.
Here’s what I’m going after as a product of the
seven seminars:
Film Budgets: You’ll be able to make comments
about budgets with the confidence that financiers and producers,
not just in Hollywood, but also throughout the world, actually
use the same words that your using. You will also be able
to read and follow the style and format of the industry leader
of budgeting software, Movie Magic Budgeting©.
Film Production's Weekly Cost Reports (the Report Card
sent to investors every week): The Cost Report at first
glance looks incredibly detailed, and to some, even complex.
As a direct result of these articles, the reader will be able
to understand the layout of Cost Reports (remember they're
the same the world over), and be able to make comments about
them intelligently. You'll have the confidence that you'll
be using the same terms, and are looking at the same topics,
as the pros. You won't become a production accountant, but
you'll get the drift, and with experience it will become second
nature. There are several more examples and charts in my book,
Walk The Talk, which will expand on your familiarity with
Cost Reports.
Email me at seminars@talkfilm.biz
for a seminar near you.
If you’re interested in learning more, sign up for my
FREE seven articles here, or click this link:
Regardless if you buy or not, sign-up for the 7 FREE articles
to see how the book can advance your career in film production.
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