Have a New Game Idea in Mind_ Build Your Business Around It!

Let’s be honest here. Some games are worth playing and others are not. When reviewing a game you’ve never played before, do you think to yourself, “I could make a better game than this?” If so, you are in the zone where you can find a game developer and build a successful business. Why not? Read on to discover the steps and structure needed to launch your game.

First, decide on a name for your company. Think about the game you have in mind, the audience that will be playing it, and how the game might be developed overall. Check the name to make sure another company doesn’t already have the same idea.

Create a legal entity for your company. It doesn’t have to be weird; is just a formal name you enter to authenticate (and write off) business transactions. Consider a sole proprietorship, corporation or limited liability company. Each has a different value, so check them out and after choosing one, register with the IRS to get a tax ID for your business. You will need a TIN to set up a business bank account. You probably won’t want to combine business income and expenses with personal transactions, if only to keep things clean and set standards for good business practice.

Then contact a trusted game developer and make a business deal. Have your lawyer review it before signing it and work with the developer to get the game ready for testing and launch. Create a few noise in the industry announcing the name of his new business and the fact that a sensational game is coming, but nothing more. Let them predict. Also, hire a graphic designer to build any visual images you need if you’re thinking about production. If the game will be an app, work to create one that will work seamlessly on mobile devices. Also ask the graphic designer to create your company logo and brand slogan. If necessary, create merchandise for sale before the game is released. Build interest.

The next step is to use one of them business plan templates to prepare your gaming business for presentation to lenders or investors. Game development is expensive, right? You will likely need funds to launch, start and continue your business; the plan in advance will prepare your company for financing. Inside the blueprint will be an explanation of who you are and what your game is all about:

Executive Summary: A brief overview of who you are, your business concept, information about your game, and financial projection.

Market Research: You need to research the players who will buy your game. What games do most players prefer and how will you reach players you know will respond positively to the game. It’s all about playing and sharing the game with good reviews.

Consider any competition: Are there already game companies that have very similar games? If so, you can reconfigure your game to differentiate your product from others. Make sure you are not infringing a patent if or while making changes.

Create Marketing Strategies: Marketing is what counts in the gaming world. As mentioned, you can sell goodies in the build-up to the game’s release. Also bring press releases to the industry, create social media posts, and create a website that encourages your audience to develop the game. Use a stopwatch to count down the game’s release day and sell it on industry sites and places where gamers congregate. Ask your friends to play and review, which will give the game an edge in the industry.

In one of the last steps before the game’s release, present your business plan to interested lenders and investors. use pitch deck, such as a Powerpoint slideshow to accompany your business plan. Outline the reasons why the game is profitable, why it satisfies a need and provides a solution. In short, defend your game and your business. Also be prepared to defend the requested amount of funding. Investors will finance with no expectation of repayment; however, they will also want a percentage of your business. The lender will finance with the proviso that the loan will be repaid with interest according to the agreed schedule. Each option should be carefully considered, as financing does not come without certain obligations.

Finally, launch the game with fanfare. Create a party to celebrate the launch and announce the big day on the website and on social media. Let everyone know with a clear CTA to buy and play the game. You made it happen. We wish you every success!

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About the Author: John Taylor

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