I thought it would be difficult to explain to investors, bankers and other financial partners how our business usually works. I can understand how hard it can be from someone outside our field of work to grasp the grey area of creative service providing of such a technical nature. When things go well it goes something like this:
- You hear about an idea for a TV spot or a film with some special effects;
- You pitch a package with solutions, early designs, work calendar and prices;
- It gets accepted;
- You get paid while some if not all the aspects of the project are modified;
- You adjust your solutions, designs, work calendar and prices;
- You work until a producer somewhere says it’s enough – until then, go back to number 4.
To my surprise, the financial folks can get this. It’s their business to take risks, and they are willing to take risks with respectable professionals. They also have resources in every business field imaginable, so they will find out if you are pulling their leg. So it goes through, most of the time.
Then you shop for insurance for your studio. Of course, you have to.
I thought you just had to shop around, fill out forms to get quotes and just go for the least expensive proposition. But insurance brokers get nervous very easily. When you talk about creative content, expensive computers you change every two years, daily video conferencing over the Internet, sending tons of movie stills through FTP, 4:00 am automatic incremental backups… The big insurance corporations bail out immediately.
Luckily there are specialized houses that deal with the media and film world, so they are at least knowledgeable of the movie-making process. That’s what we found, after quite a bit of digging around. So that was my small tip after a lengthy post.