By now all of us have seen or heard that line from this show and chuckled to ourselves, but I think it's very important to talk about putting your own money into something and the reasons why it may not be a bad idea:
Investing is a gamble. When you put money in a show, there are no sure bets. Therefore you should decide very carefully what you invest in. Here are my top five reasons for putting money into your own show.
1. Experience. I'm an Associate Producer on this show, because I invested in it when it was getting started. I took a risk. Had it not been well received, it would have not moved Off Broadway and I would not have gotten the chance to raise money for it and find investors. I now know so much more about this process and have proven to myself that I can, in fact, raise a good chunk of money, but had I never put my money down I wouldn't be where I am with it today. Previews start today, by the by. Email me if you want to get in on some good deals!
2. Investor trust. One of the first questions an investor will ask you when you come to them for money is, "How much did you put in?" If you can answer that question, it makes your conversation with a potential investor a lot easier.
3. A piece of the action. If you invest, then you get to be on the receiving end when the show makes a profit. Now you get to see both sides of the business. Just like when we say directors should take an acting class to see what it's like, if you're a producer you should see what an investor goes through.
4. Increased commitment to the project- When your own money's in something, you're going to work even harder to make sure that money comes back. Think of playing the game rather than watching it.
5. Connections- Odds are any show will have a number of other producers attached to it. Once you become part of that team there's a chance to increase your network of potential investors, and producers who may help you with your next project. They'll remember that you went out on a limb for them and put your money in.
So there it is. I'm not saying you should run out and dump your life savings into something, but maybe you want to get involved to a small degree.
Besides, sometimes it just feel good to roll the dice ;)