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Deal Memo or the importance of a piece of paper
The Deal Memo is, in essence, a one-page pre-contract signed between any Cast or Crew member and the Production Company.
It is the industry’s standard, reflecting all terms of employment: salary, overtime rates, payments for the sixth or seventh days, box rental, etc…
It is a piece of paper carrying quite important information. It protects the production company on one hand, and secures certain rights of the employee, on the other. The Deal Memo should always be signed prior to the Cast or Crew members’ first day of work. Thus, both the company and the employee are protected, avoiding misunderstandings and disappointments over a paycheck.
So basically, the Deal Memo will be the first form to complete for any Cast or Crew member, to gather all the information and get into an agreement to assembly the proper contract.
There are many forms that deal memos can take, here you can see an example:
The Cast Deal Memo is even more important. Once an actor is set for a character, the Deal Memo will be signed with the Agent covering all the “booking” information.
It will include the actor’s availability during the shooting period, guaranteed shooting sessions, all the compensation details and any special stipulations, so-called perks. The perks specify the details of the screen credit and billing conditions, rehearsals, dubbing, stills approval, transportation, accommodation, etc…
deal memo
Deal Memo — F/A/V A form which lists the pertinent details of salary, guaranteed conditions, and other essentials of a work agreement negotiated between a member of the cast or crew and a production company … Audio and video glossary
Deal memo — PP A short contract that defines the terms of employment for a crew member … Audio and video glossary
memo — mem‧o [ˈmeməʊ ǁ moʊ] noun [countable] a short official note, usually from one person to another person or group of people in the same company or organization: • A memo was sent to all employees informing them of the merger deal. reˈply ˌmemo a… … Financial and business terms
Bush–Blair 2003 Iraq memo — Sir David Manning (centre) and Secretary of State for Foreign and Commonwealth Affairs Jack Straw (right) meet with Deputy Secretary of Defence Paul Wolfowitz on 13 November 2003, 8 months into the war and 11 months after the invasion of Iraq was … Wikipedia
Bush-Blair 2003 Iraq memo — The Bush Blair 2003 Iraq memo was a secret memo of a meeting between American President George W. Bush and British Prime Minister Tony Blair that took place on January 31 2003. It purportedly showed that the Bush administration had already… … Wikipedia
Mediabox-DM — is a Conecture Technologies hosted online deal memo management application. It was released in the Summer of 2011. Contents 1 Product Overview 2 Features and Functionality 3 References 4 … Wikipedia
Conecture Technologies — is best known for its Mediabox PA, Mediabox DAM, and Mediabox DM hosted applications. Founded in 2000, and headquartered in Atlanta,GA, US, Conecture focuses its solutions exclusively for Consumer Products Licensing, Brand Management and Media… … Wikipedia
Mediabox-PA — is Conecture Technologies hosted online product approvals workflow application. Currently on its third version, Mediabox PA was developed with the licensee/licensor relationship in mind. Contents 1 Product Overview 2 Features 3 Companies Using… … Wikipedia
Crossroads (2002 film) — Crossroads Theatrical release poster Directed by Tamra Davis Produced by Dav … Wikipedia
Val Kilmer — Infobox actor imagesize = caption = Kilmer in June 2005 birthname = Val Edward Kilmer birthdate = birth date and age|1959|12|31 birthplace = Los Angeles, California deathdate = deathplace = yearsactive = 1984 Present spouse = homepage =… … Wikipedia
Prenuptial agreement — Family law Entering into marria … Wikipedia
How to Write a Deal Memo
The deal memo is an essential document for venture capitalists when considering an investment deal. Typically, after hearing a pitch, a VC will put together a memo to document their thought process around the deal. This document is vital for several reasons:
It provides an opportunity for the VC to think critically about the investment and put their thoughts down in a living document.
It helps the firm understand that partner’s perspective on the deal and can also serve as a template for all investments.
Because it is a documented investment approach, firms can look back on these memos to find patterns in investment decisions that have worked and haven’t allowed them to improve their decision-making processes.
Today we will walk through some tips when writing the deal memo, and I will also provide some additional resources around them.
What to Include in the Deal Memo
The good thing about a deal memo is that you can find much of the needed information in a company’s pitch deck and due diligence. Some firms have deal memos between 5-10 pages, and others will try to be more concise and have around 2. For firms that focus on the very early Seed stage, their memos will likely be shorter as they have less data on a company and minimal traction. I recently wrote a blog post on what to look for in startups, which will help accompany this guide. In general, the information you will include in a memo is the following:
Company Vision: What is the company ultimately trying to achieve?
Problem: What is the specific market problem the company is trying to solve?
Product: How is the company trying to solve this problem?
Founders: Who is trying to solve this problem, and why are they qualified?
Team: Who have the founders surrounded themselves with, and why are they qualified to solve this problem?
Market: TAM, Go-To-Market, etc. For more information on this, you can read the blog post I wrote about it here .
Business: Includes traction and other metrics achieved by the company. I wrote a blog post to guide you on these calculations here .
Deal: How big is the round? Who else is investing? Who are the previous investors? Capitalization Table Analysis is crucial here.
Risk Analysis/Expected Return: Will this company provide the returns we expect for our fund?
This list is a brief overview of what to include in a deal memo, but if you want to get much more detailed, I encourage you to read our other blog posts on this topic. This Medium post is also beneficial for going into more detail and providing details on each of these separate bullet points.
Not only do investors write memos, but it is highly encouraged for founders to do this practice as well. This practice helps a founder put themselves in the investor’s shoes, and in doing so, can tailor their pitch to an investor and increase their chances of raising a successful round. Also, what investor isn’t going to appreciate a founder doing part of their work for them? Y Combinator recommends this approach and has a founder memo guide here .
Final Thoughts
Deal memos rarely see the light of day, but famed VC firm Bessemer Venture Partners has made their memos open to the public, which you can find here . I highly recommend you read through some of these to understand a VC’s investment process and get some ideas to write your own.
This story is from Sutton Capital contributor Zeb Hastings. For more information on Zeb’s work, please visit his website .