Money Mindset
There can be no denying that money - whether funding for your film or money for your filmmaking salary - is an important part of your documentary filmmaking experience.
In fact money, or lack thereof, can be one of the (if not THE) biggest hurdles and impactful aspects of making your documentary film.
That is why before you embark on raising funds for your film, we need to ask you the following question:
What Is Your Money Mindset?
Your money mindset is the truth about how you think and feel about money, how you relate to it and the energy you are putting out about it. Because whether you are consciously aware of it or not, you have preconceived ideas about money and they are going to influence your film funding opportunities and affect your ability to manage what you raise.
Which Camp Do You Belong To?
Now, of course, not all documentary filmmakers have a challenging money mindset, or struggle with their fiscal self-worth. Not all documentary filmmakers find the concept of fundraising a challenge (although truthfully, many do).
We tend to see filmmakers falling into one of two camps when it comes to raising money for their films:
Camp #1. The first camp belongs to those who can’t wait to get started, can’t wait to put together a strategy and execute it, are ready to get out there, to start calling and hustling and making it happen.
Camp #2. The second camp are not so ready to mobilize their funding objectives. Often, they feel that in order to raise the money they need they will have to sell a piece of their soul, utilize skills that they just don’t have or put themselves in spine chillingly uncomfortable positions and situations. It’s just not a place they want to be.
So where are you?
• Are you energized, pumped and confident in your ability to make money for your film?
• Or are you dreading the thought of scraping together enough funds to do it?
Camp #1. You're confident and ready to go, that’s awesome. Go forth and prosper!
Camp #2. If you are fearful or uncertain of how you can raise money for your film then stick around, you're in the right place. You won't be staying in camp #2 much longer.
Moving into alignment with a positive money mindset
We are absolutely certain that if you commit to sourcing funds for your film, and believe in your ability to do so, then you will. And it will be easier than you think.
You have the power to move into financial alignment with a positive money mindset. This will help greatly with the formation of your fundraising strategy, paying yourself your worth as a filmmaker and connecting with those who can support (and be a part of) your film.
There are three parts of the process that you must resolve, understand and accept, in order to do this. So let's begin!
1. Resolve your own personal relationship with money and acknowledge your entitlement to it.
The subconscious mind is always taking on what is happening around it. It needs to know, and recognizes, if there are any concerns, stresses or issues, as its job is to ensure your survival. The problem is that the information it receives is not always properly processed, which can give way to some fear-based or limiting beliefs.
Take a look at, and think about, these three areas that may be impacting your money mindset.
A. Your Childhood Experience
The reality is that you have a relationship with money that has been developed from childhood and throughout your life. You have ingrained beliefs that you're probably not even fully aware of.
So let’s do this; think back to your childhood.
• What were you taught about money from your parents and others around you?
• Did you see money as a great resource, which flowed freely and easily to you?
• Was money something to be feared and concerned with?
• Was it something that generated arguments and upset between those you cared for?
Action: Make a note of what comes up for you.
B. Commonly Held Beliefs Around Money
Here are some commonly held beliefs about money taken from the book You are a badass at making money. Do any of these resonate with you?
• Money is the root of all evil
• Money doesn't grow on trees
• It's not polite to talk about money
• Money isn't important, people are
• Rich people are lucky, gross, selfish, entitled, snobby, shallow, egomaniacs, holier than thou
• Money ruins everything
• I don't want to be a sellout
• Who has that kind of money?
Action: Make a note of the connotations you have surrounding money.
C. Your Inner Dialogue
Have you heard the quote “whether you think you can, or you think you can’t, you’re right”.
What we allow ourselves to believe we’re capable of is what we will achieve, what we tell ourselves is not possible we likely will not even attempt.
Alongside this reshaping of our mindset about money is appreciating where our inner dialogue comes in to play. It’s important that you understand just how powerful your inner dialogue is and know that what you tell yourself truly does become your reality.
• Do you tell yourself you are deserving of receiving significant funding or are you perhaps harboring beliefs that you are not good enough or worthy enough to receive, control and distribute substantial amounts of money?
• Do you ask yourself why anyone would give you money when they could be giving it to any number of other projects, charities or organizations?
• Do you call yourself names and use derogatory words to describe yourself? Such as a fraud, incapable, unqualified, useless with money, not confident or likeable enough for people to donate to.
Action: Make a note of the language you use in relation to what you are telling yourself about your abilities around money. Be honest.
Your next steps
If any of these negative beliefs around money resonate with you, then don’t worry, you are not alone. It is not uncommon, on reflection, for any of us to realize that we are harboring insecurities around money.
Where you begin to take your power back is by taking the time and space you need to process your thoughts around money, and in turn, form ideas and associations that are much more helpful to your funding objectives.
Follow these steps to help overcome and reconfigure your money mindset so it can more strongly align with the abundant, confident and rational thinking that is going to see you raise and manage significant money for your film.
• Consider - Take the time to really consider and play out those areas that resonate with you.
• Write it down - Journal about your experiences with money, how it has made you feel in the past and what previously untapped ideas you have that surround it.
• Feel - Let yourself feel the impact of your thoughts and experiences and the effect they have on you.
• Release - Start releasing these painful or limiting thoughts and experiences.
• Replace - Let them go and replace them with a new story, which gives more clarity and less emotion to the situation or event. You have unresolved energy around these thoughts and experiences that you have created, but it is not serving you, let it go.
• Reverse the Script - With regard to inner dialogue, reverse the script and empower your language. 'I can't' becomes 'I will', 'I should' becomes 'I choose', 'I wish' becomes 'I create'.
• Positive Money Mantra - Develop a positive money mantra, such as 'I love money because it is going to help create an amazing film' or 'I love money because it will enable me to bring on an amazing team to make this film' or 'I love money because it allows me to spend as much time as I can working on my film'.
And why stop there?
• Make a List - List five specific ways that raising significant money for your film would help it e.g. 'I will hire a drone operator to shoot some cinematic landscapes' or 'I will fly to the Netherlands to interview the professor who is an expert in his field'.
• Visualize - "If you can imagine it, you can achieve it. If you can dream it, you can become it." - William Arthur Ward. Visualize yourself with a fully funded film. Image yourself happily celebrating with donors and supporters as you premiere your film. What you visualize you will attract into your life.
If you would like to work even deeper on this then consider in investing in Jen Sincero's book, You are a Badass at Making Money. This book may really help you change your mindset about money, and your ability to earn and enjoy it, for the better. It's one you will highlight and read over and over again. We do.
2. Accept that you are raising money for something much greater than yourself.
One of the biggest fears and obstacles many documentary filmmakers have is the idea of asking someone for money for their film, and since over 50% of funding is raised from donations, it's an obstacle which can have a significant impact.
The main mistake many documentary filmmakers are making here is that they consider the film solely their own. The concept of why someone would donate to their film project rather than another, is mystifying. I'm sure you've thought this yourself, we sure have.
But it was only when we took a step back and looked at the bigger picture of our film project that we gained the clarity we needed to shift our mindset. This empowered us to become more confident and focused fundraisers and we hope it will for you too.
You must find a way to appreciate that your film is not just about you, but being made for, and involving, many others. It is for those people, and those reasons, that you fundraise.
• Your film is for all of those people who will be moved, entertained or educated by it
• Your film is for all of those people who work tirelessly on it to bring it to fruition
• Your film is for all of those people who contribute to it without any expectation of anything in return other than seeing the film get made
• Your film is for the individuals or communities to whom the making of this film will make a real difference or have a great impact
• Your film is for the next generation who can access a little more information about the world and develop a more informed opinion
You may be the captain of the ship, but this film is about way more than just you. Remember that as you ask for help and support throughout the course of making it. There's a bigger picture here. Keep that at the forefront of your mind and it will take you all the way to the bank.
3. Understand why people give money to projects such as yours.
So once you have gotten clear on some limiting beliefs and have acknowledged that you have a responsibility to much more than yourself to garner money for your film it's time to take a closer look at why people give money to projects like yours.
So why do people donate?
• People give money to projects for emotive reasons, rather than factual or objective ones.
• People give money because of how it makes them feel, they feel happy to be playing a part in something they believe in.
• People give money because of how they see themselves because of their connection to your project.
• People give to people. Connecting in a human way allows people to get to know, like and trust you and put their faith (and money) into you.
It's easy to think of yourself as begging for money when you ask someone to donate or support your film. You may feel desperate, vulnerable and uncomfortable. But we believe that this is giving way too much power to money.
Money is the means to an end, which is the making of your documentary film. You don't need to apply all the emotion or fear on to it.
When you ask someone to donate to your film you are giving them an amazing opportunity to be a part of something important.
Whether they choose to get involved or not is their own choice.
You are choosing to invite them to participate in something that you both believe is of value, you are on an equal footing. You are extending an offer and if it's a good fit for them and they wish to get involved, they will.
Get clear on the value of your film and the amazing opportunity you are presenting to potential donors!
The following quote is how we can all begin to appreciate and feel around the acceptance of money, donations and support for our film(s). It's a change in perspective that we all need.
Money for your film is waiting for you
Don’t let your fear of money take away your ability to generate it. Knowing that the money for your film is out there waiting for you and knowing that you are going to find it makes you invincible.
Because knowing that it's there means:
• You will not give up until you get it
• It may not come to you as you plan or intend, but it will come to you - one way or another!
• You are letting the universe know that you are open and welcome to receive it because it is your right and destiny
You must see fundraising the same way that you see filmmaking. You have your concerns and reservations about your abilities to do it, but there is something deep down that knows that you can. A part of you that knows that you have everything you need to learn, grow and develop as a filmmaker and as a fundraiser.
You wouldn’t have started on this journey if that seed had not already been planted somewhere within you. Let the money seed grow within you too.
You can be creative and rich.
You can be a credible, groundbreaking and an authentic filmmaker AND have a fully funded film.
Takeaways
Your relationship with money - based on how you think about it and the experiences and connotations you have developed around it - is very likely having a monumental impact on your ability to raise it to make your film and sustain yourself as a filmmaker and creative.
We must get to the reality of how we feel about money to be able to allow it to come into our lives and utilize and manage it effectively.
Take the time, not only to discover your true relationship and feelings towards money, but also resolve an negativity or misalignment that you may have so you can be open to generating and receive all that you need.
Understanding that the money and support you are garnering from others is for something much greater than yourself. This is not only incredibly important to accept, but can be incredibly liberating too. Yes, you are at the center of your film, but by allowing others to be a part of it you are giving them an exciting and purposeful opportunity to become involved with something they also believe in and want to see out in the world.
You should also understand that people donate to projects and causes because it makes them feel good. Don't you feel good when you know you're helping someone else? When you feel like you're contribution could make a difference? Allowing others to experience the same thing is a gift.
Not everyone you speak to or ask for support will come on board. That's okay! We all have our own agendas and paths to navigate. Keep looking and you will find your people. Don't give up!