1. Find the right story. The story is always the driving force in low-budget filmmaking. You need a screenplay that can follow the right format. For low-budget filmmaking to work, you need to shoot your feature within a 3-week time span. Essentially, your story needs to be a “dressed-up” stage play. Trust me, everybody is using this format from Tyler Perry movies to movies like Death at a Funeral.
The key to low-budget filmmaking is the ability to move fast. You have to shoot 5 pages a day with the ability to handle 25 – 35 setups per day-- no more than a 6 to 1 shooting ratio. Locations have to be limited to no more than three, with 80% of your film shot in one location. To keep the budget down, have no more than a handful of characters. If you can find a story that meets that criteria, you are in the game. But remember the story has to be solid and have entertainment value.
2. Low-budget is low-budget. Low budget for you is not $1 million. If you want to make a second film, your first film must break even or make money. In order to do that it needs to be “low-budget”. Your rock bottom number has to be less than $150,000.
Recently, someone sent me a script with an $800,000 budget. They have got to be insane. There is no way they are going to raise $800,000. That’s why a lot of film students are not working. They want to start at the top. You have to start at the bottom and prove that you can make a $10,000 feature, then a $50,000 feature. That’s the way the system works.
3. Become an entrepreneur. You’re going to be waiting a long time if you think somebody is going to call you to make your movie. You’re going to have to go out and raise the money. Plus, you will probably have to direct and produce it as well. Most people who make their first movie are able to get the money from their family and friends. However, that won’t work for the second movie. That’s why you have to make Rule Number 2 work for you. If you can build a financial model, you can find investors for your next film as long as you keep the costs low.
4. Make the movie first, then the deal. No one is going to give you a distribution deal without a finished product. Sorry, a script is not enough. For years I read and believed that you get the distribution deal first. It doesn’t work that way. The distributors want you to take all the risks first.
5. Get help. There are plenty of resources available. On our website mediamissionaryschool.com for free you can check out our guerilla code, guerilla principles and our guerilla guide. There are also lots of resources on line. Just be careful that they are not rip-offs. Buyer beware.