Do You Know What You Want Out Of Your Film?
There are many filmmakers who believe they have the next big blockbuster hit. They haven't thought further than getting into TIFF or Sundance and immediately getting picked up. They fail to realize that having plan A and B helps with setbacks in a slow start or milking a successful premiere.
Simply having finished a film isn't enough.
Do you want to be known within the festival circuit? Do you want your name to be attached only to commercially type films? Or, do you want to take your film to the international market?
This is why festival strategy is important, there are separate festival routes that help accomplish these thing. You can pretty much use the free publicity to help fund another project. Its one of the best portfolio for filmmakers out there. Just having an idea of where you see your completed film in the industry helps to decide on which festivals to submit to.