When I got started in filmmaking, one of the biggest mysteries was how filmmakers found investors. I spent countless weeks and months seeking answers to the age old question: “How do I raise money to make my movie?”
That one question sent me on a quest that involved dentists, doctors, car dealers, international pre-sales and a whole slew of phonies pretending to be big shots. I found out that there is a lot of really bad information on film finance out there.
Since that time, I made it my quest to cut through all the BS and supply indie filmmakers with good, actionable information. Someone suggested that I reach out to film finance expert Tom Malloy. And I'm happy I did. Tom has raised over 25 million dollars to fund his own films.
Tom stopped by Filmmaking Stuff to share a few film funding tips.
No-Fluff Film Finance Tips
Jason Brubaker
Hi Tom. It's great to finally get a chance to chat. Before we get into the some of your film finance tips, I thought it would be great for the readers to get to know you. How did you get started in filmmaking?
Tom Malloy
I'm originally from Redbank, New Jersey. I got started in filmmaking, because for me, there was no fallback plan. I always dreamed of making movies. I focused my mind to such an extent, I was going to find a way to make a movie, no matter what.
Jason Brubaker
Is that how you got into film finance and raising money?
Tom Malloy
I started as an actor, and had some early success, but started finding I was losing roles to more established actors.
Jason Brubaker
Acting seems like a lot of waiting for someone to “pick you” from a lineup. I imagine waiting is challenging when you're super entrepreneurial.
Tom Malloy
I didn't want to be a helpless actor. So I took control of my career.
Jason Brubaker
And that's what prompted you to raise money for movies?
Tom Malloy
I initially looked at film finance as a means to an end. I was raising money to give myself roles, and to prove my talent as an actor.
Jason Brubaker
Was it hard to go from actor to producer?
Film Funding Tactics with Tom Malloy
Tom Malloy
Things sort of changed, through osmosis, I guess. I became a producer and writer, as well as an actor. I was one of the first successful triple-hyphenates. But when I was doing it, it was unheard of.
Jason Brubaker
After you successfully raised money, people started hearing of you.
Tom Malloy
Now [laughs] it's the only way to go.
Jason Brubaker
Why do you think more filmmakers don't take action in raising money?
Tom Malloy
Well, filmmakers are usually artists, not businessmen. And I'm not suggesting you need to be pure-business, because businessmen have ruined movies to a certain extent.
Jason Brubaker
I talk to a lot of filmmakers who would agree. So what do you suggest?
Tom Malloy
What you need to be is equal parts both. You need to work on your salesman side and look at films equally as art and commerce. You need to willing to embrace the business side so you can get funding.
Jason Brubaker
The good news is, once you get the funding, you can make your own movie.
Tom Malloy
Remember the golden rule: He (or she) who gets the gold, makes the rules.
Jason Brubaker
How did you find your first investor?
Tom Malloy
I knew a guy who played high stakes poker with a lot of money people. I had no idea he had a large sum of money himself. I asked him if I could pitch him on helping me find money for the film.
Jason Brubaker
So in the process, you told him about the movie…
Tom Malloy
Yes. I shared my pitch with him, and it blew him away so much, he said: “Well, jeez, I'd like to invest in this!”
Jason Brubaker
Here is a big one. I get emails from filmmakers sharing stories of rejection. I know it's part of the film finance game. But how do you overcome rejection?
Tom Malloy
Collect the “no's”. There is a famous real estate story where a failing real estate agent is coached by the office pro. The failing agent hears “no” and lets it affect him severely. The pro asks, “On average, how many “nos” do you get before you sell a house? The failing agent says, “Around 20.” So the pro suggests a change, “Just think of each “no” as one more to your collection. Once you get to 20, you'll sell a house.”
Jason Brubaker
So every no increases your probability of success.
Tom Malloy
That “re-framing” caused the failing agent to even outsell the office pro! So I make a point go always go out there, collecting “no's”, knowing that I'm one step closer to a yes.
Jason Brubaker
What do filmmakers need before they can meet with an investor?
Tom Malloy
They need to have a fully prepped project. Investors are financially smart. They didn't just stumble onto their money. So filmmakers need to present a project that is a viable, intelligent investment for them.
Jason Brubaker
A few weeks back, you shared your best tips in Bankroll. How do you think the Bankroll Film Funding Training will help filmmakers?
Tom Malloy
This is all about “prepping” the project. The essential steps to get your project ready to pitch. Trust me, trust me, trust me, if you go in front of an investor with a project that's not ready, not only will you not get the check, you will most likely never get a chance to pitch that person again.
Jason Brubaker
Why should filmmakers invest in the Bankroll Film Funding Training instead of all the other stuff available?
Tom Malloy
This is invaluable information for the price. If you're not willing to invest in your career, I supposed you must be an “enthusiast” and not serious about filmmaking. I have had industry veterans listen to this information and tell me that he or she learned something. So I guarantee you will learn and you will advance your skills in the film finance world.
Jason Brubaker
I think the big thing is proof points. The information is coming from someone who's done it. Not everybody can say the same.
Tom Malloy
I've raised over $25 million. I know what I'm talking about.
Jason Brubaker
What advice do you have for filmmakers who want to do what you're doing?
Tom Malloy
Never give up, stay focused, continue to learn and gather knowledge. You will get there.
You can find out more information about Bankroll Film Funding Training here.
