Alternative funding websites: bogus or brilliant?

     “Where others see a neglected neighborhood, we see opportunity.”

     This is the tagline for an alternative funding site known as the Opportunity Finance Network.  The site is purposefully designed to draw in innovative idealists with like-minded mantras. It does a very good job by utilizing action words such as “learn, join, and lead” for titles to hyper linked / associated categories with additional micro-chasms to get more involved with.  The most helpful probably lies under their “learn” tab.  This area will allow the reader to understand exactly what a CDFI is. It also explores any career opportunities within the industry, any CDFI institutions and their locations to help entrepreneurs. Under this tab one can find employment opportunities within OFN, and discover the Small Business Finance Forum of 2015, which is the only event of its kind, and how this forum focuses on the needs of CFDIs and other “mission-driven small business lenders.”  The nature of a CDFI is that they work in neighborhoods across the U. S. to provide affordable, responsible credit, create and sustain jobs, and stabilize communities.  CDFIs believe in opportunity for all, and this is where there other core value resonates, “we align capital with justice.”

      For the skeptics, here is how this works via the OFN.  The Opportunity Finance Network works within the opportunity finance industry.  What this means is that opportunity financiers find and finance opportunities that others miss. They see the world differently. Where others see risks, they see possibilities. To them, people are people.  Furthermore, every person deserves opportunities like good, family-wage jobs; decent, affordable housing; healthy foods; locally owned stores; and quality schools.  The Opportunity Finance Network’s additional core value, “we invest in opportunities,” summarizes their vision beautifully.

   (http://www.opportunityfinance.net, 8/15/2015)

   On the other hand, AEO: The Association for Enterprise Opportunity site is something very different but still is an alternative funding site.  An excellent site that truly speaks to the consumer and entrepreneur by engaging in three tools of Internet marketing: offered a strong hook, sold the idea that their service could improve your current networking/funding abilities, and offered a scholarship/prize for being a patron/member that is both desirable and achievable.  The best and most poignant reasons for becoming a member of the AEO lies under the “what we do” tab. 

          AEO strives to increase capacity of the field to support underserved entrepreneurs in starting, stabilizing and establishing businesses and to foster greater understanding of the importance of strong and effective microbusiness initiatives to the U. S. economy. 

       AEO represents the public policy interests of its members and through its growing network of partners, facilitates interactions among small entrepreneurs and the organizations that seek to help them succeed. 

     AEO is also an important source of important industry data and reports. 

      (http://www.aeworks.org, 8/15/2015)

   However there are some alternative funding sites that are custom tailored to larger businesses, specific cultural or community development organizations, and those are specific criteria one needs to be aware of.  For example, a particular favorite specialized cultural and community development organization of mine, the First Nations Oweeta Corporation, is exclusively designed to accomplish the following.

   Develop financial institutions to directly provide Native American communities the tools and capital support required for real sustainable job creation, small business development, commercial real estate development, affordable housing/home ownership while also offering basic banking services and financial literacy training to “underbanked” Native American communities who have been historically targeted by predatory lending practices.

(http://www.oweesta.org/about-us-About-Us/Oweeta, 8/15/2015)

The reason this particular organization stands out is due to the fact that I am aware of the nefarious history between Native Americans and the U. S. lending practices, especially those regarding real estate and casinos.  While I am intrigued by Oweesta’s mission statement and the organization’s criteria to fund (criteria I do not meet), one could look at the bottom right corner of their page only to realize that the Opportunity Finance Network has invested in this specialized CDFI.  More importantly, it really demonstrates how true to their core values and mission the Opportunity Finance Network is, “ Justice for all begins with opportunity for all.”

    The messaging is very clear in that each on of these alternative funding resources are attempting to empower entrepreneurs and develop our communities for economic growth, sustainability and improve the chances for everyday people to improve their quality of life.  The United States economic policies remain confusing to even the most educated people just trying to live paycheck to paycheck. Resources such as the Association for Enterprise Opportunity, the Opportunity Finance Network and First National Oweesta Corporation provide ample information, scholarships, networking, and funding opportunities for eager entrepreneurs who wish to explore these avenues.  One needs to be highly aware of the specific criteria under each separate opportunity, in order to avoid a false sense of hope and to attain the proper alternative-financing match for your business. 

  Thank you,

Michelle Fernandez

The Best Laid Business Plans

    According to the PhD economist and former President and CEO of the Ewing Marion Kauffman Foundation, Carl Schramm, an entrepreneur has characteristics that resonate on a deeply personal level for a budding producer.  He is absolutely correct in thinking that entrepreneurs “think in terms of disruption, and are often thought to be disruptive by the change-averse(2012).”  More importantly, Schramm thinks “they are often competent in a completely different field than the field they are working in.  They are very widely read, and know lots of facts and information that makes thinking richer.  They have worked in multiple places in the world.  They have worked in a start up.  They have worked in a job they did not like.  They have worked in multiple industries (2012).” The unbelievable truth in his description of what he thinks an entrepreneur manifests in their life experience is that I possess eight of these qualities.  It is a reminder that I have consciously decided to evoke change in my professional life, which will lead to greater personal satisfaction. 

    However, the key ingredient to launching one’s career as an entrepreneur is having a decent business plan.  Despite the reassuring opinion Schramm gives concerning a business plan as a “good basis on organizing ideas and putting them into motion,” he warns that living by such a plan may in fact “harm your business and your ego (2012).” The industry blog, “Expert Views on Business Plans,” by Full Sail University’s course professor and business plan expert, Steven Burhoe, provides additional information on the subject. Burhoe has completed over seventy-five business plans for companies throughout the globe and he appears to agree with the idea that business plans can become outdated but they are important to give merit to the core concept for any entertainment industry business start up.  More over, in the entertainment industry one should always be prepared for plans to change, because most assuredly they can and often do because the nature of opening such a business (i.e.: film production/distribution company) is a high-risk endeavor. 

  Therefore, the most crucial partner in the development of a successful business plan is learning how to pitch the idea to a room of investors who have the capability to decide the financial fate of one’s entrepreneurial endeavor. According to the author of the section on Bplans.com titled, “Mastering your Pitch and Find Funding Success,” having a masterful understanding of one’s business plan is key.  Investors want to do business with a company that will ultimately yield a return of investment over time but they also want to establish a recurring business relationship with credible entrepreneurs who are prepared.  Most importantly, keep the pitch and the plan simple and short. Based on Daniel Faris, the author of the research regarding a recent study published in Entrepreneurship Theory and Practice, “Results of the examination revealed that entrepreneurs who showed clear signs of preparedness and who had a strong grasp on their material were able to establish credibility with investors and received higher funding amounts, regardless of the project.”  It would be wise for any entrepreneur to cultivate the familiarity of their business plan and their cunning skill to pitch such an idea to a group of investors and turn their dream into a professional reality.

    Best of luck,

Michelle Fernandez

Read more:

Carl Schramm

http://steinvox.com/2012/04/17/carl-schramm-straight-talk-on-entrepreneurship-why-we-need-it/

Steven Burhoe

https://www.blogger.com/profile/00788771632045141922

Daniel Faris

 http://articles.bplans.com/master-your-pitch-and-find-funding-success/#ixzz3WeOjEPYA

Cassie Williams Jones

http://phys.org/news/2012-08-importance-strong-pitch-entrepreneurs.html

Bollywood and The Weinstein Company: a Marketing Method Match?

   A presentation discussing the overall progression of marketing in the film industry, “Social Marketing for Bollywood Movies,” provides an illuminating perspective on today’s customer and keeping one’s movie on their minds.  Perhaps one of the most interesting aspects of the presentation is the fact that the author is focusing on film marketing strategies for India.  India and the Bollywood film market play an extremely important example in the future of cinematic marketing.  In order to reach a vast and lucrative audience via multiple screens, filmmakers have to maximize their pre-release marketing campaigns onto the screens of various devices. 

    Today’s customer has an ever-reducing attention span that requires filmmakers to give them something “extra” in their marketing campaigns.  The reason filmmakers must continue to produce interviews and clips that are unavailable through regular print and TV is the fact that there are so many multiplexes, films “only stay in theatres for a maximum of 2-3 weeks (Tapia, 2012).”  Therefore, the ‘word of mouth’ recommendation films depend on must begin sooner in order to get the “buzz” going before it hits theatres in order to ensure a successful launch of the film. 

     As if this was not challenging enough, budgets are increasingly limited for marketing and this is where the emphasis for Internet and Social Media campaigns are crucial to a film’s success.  According to Tapia, it is best to put together “a small team of social media managers that create a strategy for the movie content to be released in a staged manner right until the point of release.  This ensures that fans are continually fed information about a film via various online touch-points and the buzz for a film reaches a crescendo by the time a movie is set to release (2012).”

    This presentation is extremely succinct in defining the process by which a producer arrives at an entire marketing campaign for a film project, especially concerning the film’s online presence.  An excellent point to consider, before the execution of the marketing campaign, is the target audience of the film’s message or what demographic the film is meant to entertain.  Consider the questions: “who is the intended audience,” and, “what is the film’s underlying message?”  From this stage in the project, one should posit the tone of voice and communication involved in delivering the message to one’s audience.  The reason to evaluate these points with equal reverence is that both of these business aspects will tie together all marketing efforts for the film. 

     Of course, for most film projects, the steps to take in marketing a film are very similar to those of Bollywood.  However, in this presentation the most intriguing step is the portion regarding film leverage over third party associations like co-promoting one’s brand with in-film advertising, multiplexes, and malls.  It is a lot like grass roots marketing with a virtual twist. For example in India during the “City Tours,” promoting a film in the cities like Delhi, Mumbai, and Kolkata, there are relationships that exist with the multiplexes’ fans, and the malls’ as well.  The reason this is significant is due to the fact that these social meccas release newsletters to the massive public within these cities announcing film tours, theatre releases, movie times, premieres, and possible contests.  Tapia recommends that marketers capitalize on contests as another venue to increase the allure and attention towards one’s film.  This recommendation works and is used in modern film marketing campaigns, such as one for the film, The Giver, released by The Weinstein Company in August of 2014 staring Meryl Streep and Jeff Bridges (The Weinstein Company, 2014).  The parameters of this particular online and social media marketing campaign demonstrates crowd-funding, charitable contribution for the arts (connects with the film’s theme), and the contest for the fans who want to experience the cast and crew in serious A-List style (Eventbrite.com, 2014). The package involves an exclusive premiere screening in New York with the cast and crew, meeting the stars of the film in a VIP after-party held for the film, and personal meet and greets with Jeff Bridges, Brendon Thwaites, and Katie Holmes. The point is that this marketing event keeps customers checking in to see if they in fact win, or who is bidding on the prize, and this successfully allows the marketers to relay continual information to the customer who in turn tries to get more supporters to help them win the contest.  It is brilliant.  Turn the fans into free grass roots social media marketing machines. 

    Ultimately in filmmaking, an incredibly thoughtful and well-researched marketing campaign can make or break one’s film project.  Based on the presentation, “Social Media for Bollywood Movies,” film marketing is now competing to capture, maintain, and mystify the customer’s ever waning attention span on multiple screens: theatre, TV, mobile and laptop.  There are two extremely important concepts to keep in mind throughout any successful film marketing campaign.  One, always consider the scope and nature of the audience the film’s message is inspiring/entertaining.  Two, be extremely mindful of the tone of voice and method of communicating the message of the film through the entirety of the marketing campaign.  More over, consideration of such points and having a social media management team can ensure that a film’s universal message successfully captivates audiences long before it is released.  The key is to market the extra footage unavailable through print or television in order to keep the customer searching for more on the film long after it has been available.  The goal is to get them to connect and keep them connected for as long as humanly possible.

    Best wishes towards meaningful marketing campaigns and thank you for reading,

Michelle Fernandez

Indie Incline

     The article is really examining the overall economic success of the Indie Film genre at the 2013 Sundance film festival.  Many of the indie films purchased sold for over one million to almost ten million dollars.  The excitement was largely because over a dozen films at Sundance in 2013 went for over one million dollars.  More importantly, the article highlights the performance of the documentary film category at the 2013 Sundance Film Festival, which raised its sales in 2013 from 2012 impressively.  In fact, at Sundance 2013, four documentary films sold for well over a million dollars versus the previous 2012 result of one documentary that actually sold for over a million. 

   

    Because Sundance occurs in the beginning of film festival season, this festival inherently sets the pace for subsequent South by Southwest, Tribeca, Cannes, and Toronto film festivals.  Overall, it is suggestive of how strong the indie market is and that it is recovering from the previously disappointing purchase results of 2012.  Furthermore, The Hollywood Reporter features an opinion within the article regarding Sundance 2013 deals.  Graham Taylor, from WWE Global, stated, “The hills are alive with film sales,” which had everything to do with the fact that he believed, “Sundance has curated a great crop of films this year, hence the deal making (Miller & Siegel, 2013).”

     Perhaps the most intriguing part of this article has to do with a filmmaker like Shane Carruth who made Upstream Color.  This particular filmmaker was discussed based on his unique utilization of the festival as a platform to self-distribute his film.  The process of self-distribution at a film festival was a point of high interest and Sundance reported that it would be a concept that they will see way more of in the future.  Carruth was quoted by The Los Angeles Times regarding his thoughts on his journey to self-promote his film: “It’s not necessarily about revenue or that I don’t think it will sell; it’s that I get to frame this thing exactly the way I think it needs to be framed.  I get to continue narrating through marketing, releasing teasers, and artwork that you could make the case aren’t the most commercial ways to sell this but they absolutely are in tune with the way I think of the film and what I want to communicate (Olsen,2013).”

    Based on the article, “Distributors Pay Top Dollar at Sundance, Has Indie Film Recovered? Plus a Complete List of Acquisitions,” evidence suggests that the indie film market is strong now and will keep its economic momentum as companies continue to fight hard to acquire titles (Marine, 2013).  Most importantly, in 2013, the control and courage to self-distribute, self-market and promote one’s film is the future trend that will be seen at future festivals from indie filmmakers.  I think this is a great movement towards the encouragement of profound content within indie films and supporting hardworking filmmakers who have meaningful pieces of art that were made to inspire audiences with their films’ messages world wide.  As an indie filmmaker/producer, I understand the need to get the story marketed the way the film’s message was meant to be conveyed without commercial interference, but its also great to get bought and have meaningful distribution deals go well with studios who share the same vision.

Best wishes towards meaningful distribution of meaningful work,

Michelle Fernandez