Starting a Film Company - The Basics
Owning an independent film production company has a lot of benefits, but those benefits come at a great cost in time, money, and stress. Addressing these issues before hand is not a surefire means to success, but it does offer a chance to see if entrepreneurship is what you’re looking for. Good planning and adequate preparation is the start to a successful business, by truthfully evaluating and assessing your own strengths and weaknesses as an owner of a company involved in the film production business. As you evaluate your skills it is good to think about these questions:
Are you a go-getter? The companies success will be primarily your responsibility, not some one else’s. It will be up to you to option & develop projects, organize you and your employee’s time and to follow through on every last facet.
How well to you fit in with and get along with diverse personalities? In general business owners, especially production company owners, need to interact and develop relationships with a diverse variety of people, including staff, vendors, lawyers, accountants, consultants, bankers, crew, and other producers. All of which have very distinct, and often strong personalities. Can you deal with difficult, demanding, and unreliable people in a way that will serve the best interest of your production business?
How are your decision making skills? If you’ve ever worked with, for, or on a film production you know the demands and quick decisions that are often made. As the owner of your own production company you’ll be required to make constant decisions, often quickly and under pressure, and usually independently.
Do you have the mental, physical, and emotional stamina to operate a film production business? Owning a business, especially a production company, can be a time consuming and emotionally draining experience. Do you have what it takes to work long hours, six and seven days a week?
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