| Unless you're a bazillionaire, you are all probably | | | | projects. I invest in people." |
| wondering just how in the hoo-ha you're going to | | | | True that. |
| find investors for your Broadway or | | | | Strategy 3: Where The Wild Things aka Rich |
| Off-Broadway show. | | | | People Are |
| Here are a few of my strategies that I've used | | | | There is a big difference between bazillionaires and |
| to raise the millions necessary to produce my | | | | people with disposable income. There are more |
| shows. | | | | people with disposable income out there than you |
| Strategy 1: Field of Dreams | | | | think. Lots of folks do well enough to spend |
| Call me a can of Easy-Cheese if you want, but | | | | money on nice vacations, a second home, a nice |
| that creepy voice in the corn field was right: "If | | | | car, and even theater tickets! GASP! |
| you build it, they will come." | | | | Your job? Find them. Go to charity benefits. Go |
| Spend your time worrying about your product, | | | | to Wall Street bars. Go to art openings. As my |
| not about how you're going to pay for it. There | | | | dad tells me all the time, "You have to show |
| are plenty of people in the world that enjoy | | | | face." You'll find people will be interested in what |
| investing in shows (even in bad ones). Think like a | | | | you are doing. And getting a few thousand out of |
| high-tech company (another high-risk business). | | | | these folks is not as hard as you think. Most |
| Put your time and whatever money you do have | | | | people in the middle class to upper middle class |
| in R&D. | | | | have some extra investment money that they'd |
| If you create something remarkable and | | | | rather not invest in a boring blue-chip. I often tell |
| Purple-Cow like, you'll find people throwing money | | | | these people that investing in the entertainment |
| at you. At the same time you'll be more | | | | industry is just an extension of the diversification |
| passionate about your product, which makes it | | | | of their portfolio. |
| that much easier to sell to investors. Passion is | | | | These are my three principle strategies of raising |
| contagious. | | | | money, but there are thousands more. Just like |
| Strategy 2: Cub Scouts | | | | anything else, you have to find out what works |
| When I was a kid, I sold chocolate bars to raise | | | | for you. |
| money for my cub scout troupe. I also sold | | | | However you get them, this next part is crucial . . |
| Cutco, stationery products, and I even set up a | | | | . |
| candy shop at my father's office after he taught | | | | Take care of them. I'm not saying you have to |
| me the wonders of wholesale (I called it Kenneth's | | | | produce record breaking hit after recording |
| Kandy Shop. I thought the "K" for Candy was the | | | | breaking hit (although that helps). You do have to |
| Koolest.). | | | | communicate with them. Send them t-shirts., |
| No matter what I was selling, I always started | | | | introduce them to the actors, send them |
| the same way . . . with my family. Then my | | | | something unique at Christmas (but, please, |
| friends, my neighbors, my father's secretary, etc. | | | | anything but a card), etc. Why? Because people, |
| Getting investors is no different than hawking | | | | like cigarettes, travel in packs. People that invest |
| scissors that cut a penny in half. Start with the | | | | in the theater, know people that invest in the |
| people you know. And then, ask them if they | | | | theatre, who know people that will invest in |
| know people who would be interested in your | | | | whatever you are doing. |
| product. | | | | One of my biggest investors was introduced to |
| The people that are closest to you are going to | | | | me by one of my smallest investors two years |
| be most inclined to give you money, because | | | | after we met. How did I meet him? He walked up |
| they are going to invest in YOU, regardless of | | | | to me at one of my shows and said, "This is cool. |
| what you're selling. Do you think my Mom really | | | | How can I get involved?" |
| needed the scissors that cut a penny in half? | | | | The lesson? Produce stuff that people think is |
| When I was pitching a show (hard) to my very | | | | cool, and then . . . well, you remember how I said |
| first and biggest investor he cut me off and said, | | | | your first investors will most likely be your family? |
| "Ken, I'm giving you the money, but not because | | | | Your last investors have to be treated like family, |
| I believe the show is going to make a fortune or | | | | so they'll stay with you . . . through thick and flop. |
| even return its investment. I don't invest in | | | | |