Pre-Production is the one stage of the process where money doesn’t really matter. Psych! It’s still really important, only now it comes with even more paperwork and headaches. About that paperwork – a lot of it will be contracts relating to money you’ve raised (and probably are still raising) for production. Because contracts are just binding agreements, it’s important to be clear about who is agreeing to what. So get everyone to agree to everything you want – simple, right? The “who” probably matters more than you think: you want to feel comfortable with anyone who becomes your business partner on this project. Otherwise, your relationship will probably end in a courtroom.
Do You Have the Money?
If you’ve raised any money, you want to know when you can actually start to spend it. Pre-Production is when you need to hire essential cast and crew members; to do that, you’ll need to be able to pay them something. So make sure there’s money in your account to do this! Experienced financiers will make you sign all the necessary contracts before they send you any checks. Even if you “have” the money, you won’t actually have it until those checks have been deposited into your production account – which you have clearly set up by now, right?