Kathleen Kennedy & Kevin Geiger on Business Plans in Film

The business end of the film world is one that can often be viewed as complicated and difficult to grasp. However, luckily, in the age of technology, we have an ample amount of resources to utilize in order to gain insight into just how the film business works. Two experts who have been in and around the film industry for several decades are Kathleen Kennedy and Kevin Geiger. 

Kathleen Kennedy discusses Star Wars Episode V with George Lucas (Left) and J.J. Abrams (Right). Digital Spy 2014.

The better known of the two experts is by far Kathleen Kennedy, president of Lucasfilm and one of the most notable producers in Hollywood. Some of Kennedy’s best-known works are Schindler’sList, Back to the Future, The Sixth Sense, and Jurassic Park. For many years, Kennedy has been producing some of the biggest box office successes, and when it comes to building a business plan – for a film – she mentioned the importance of thinking globally in terms of how your story will connect with different cultures in an interview with USA Today. It is also important to be forward thinking when it comes to technology and where the industry is heading. Being aware of the changes in distribution, like the rise of Netflix and Hulu, and new ways to watch movies on the go is imperative for building a business plan that will be a success. Another piece of wisdom Kathleen Kennedy shared with Hollywood TV is that who you are as a person is important, because investors are not just making a decision about whether or not they see potential in your business, but they also must want to work with you. Being honest, having strong values to support your work, and be tenacity will carry you a long way.

 

There is also the great advice offered by independent filmmaker Kevin Geiger, known for his visual effects work on Chicken Little, Reign of Fire, and Fantasia, in his talk from the Griffith University Film School. Geiger has often noticed that filmmakers and artist commonly have a strong creative pitch, but a very weak business plan – neglecting that these two things go hand in hand. Investors want to see the creative vision, but what they want to see more than that is how they are going to get a return on their investment. Throughout his talk, Geiger offered several steps to include in your business plan that investors will be looking for:

1.     Show and explain how your investors are going to make their money back – and then some.

2.     Take the time to do your cash flow projections

3.     Make a presentation, and make it great!

4.     Pull together a development and advisory team to help you through the process.

Investors do care about your creative vision, but they also want to make sure they are investing in a project that is viable and has potential to be a success. They are going to be entrusting a lot into your hands, take the time to show them why you are worth it!

Of these suggestions, I intend to implement a great deal of what I have gleaned. As Kathleen Kennedy pointed out, who you are and how well you interact with others plays a major role in success. Film has always been an industry about whom you know, and the friendlier and easier you are to work with, the more opportunities that are likely to knock at your door. Also, you cannot expect overnight success, work hard, be tenacious, and be a person of integrity. Kevin Geiger also had a wealth of knowledge of what to include in a business plan to catch an investor’s eye and establish yourself as a project worth putting funds into. At the end of the day, hard work and meticulous attention to detail is critical to building a business plan that is successful.