Let’s be honest here. Some games are worth playing and others really aren’t. While you’re evaluating a game you’ve never played before, do you think to yourself, “I could build a better game than this?” If so, you’re in the zone to find a game developer and build a successful business. Why not? Read on to discover the steps and structure needed to put your game out there.
First, establish a name for your company. Consider the game you have in mind, the audience who will play it and how the game might be developed overall. Research the name to ensure another company doesn’t already have the same idea.
Create the legal entity for your company. This doesn’t have to get weird; it’s just the formal name you put in place to authenticate (and write off ) business dealings. Consider a sole proprietorship, a corporation or a limited liability company. Each holds value in different ways, so check them out and, after choosing one, register with the Internal Revenue Service (IRS) to receive the TIN number for your company. You’ll need the TIN in order to start a business bank account. You probably won’t want to combine business income and expenses with personal transactions, if only to keep the slate clean and set standards for good business practices.
Next, contact a game developer you trust and put a business contract into place. Have an attorney review it before signing it and begin working with the developer to get the game ready for testing and launch. Create some industry buzz by announcing the name of your new business and the fact that a sensational game is coming, but nothing more. Let them anticipate. Also, hire a graphic designer to build any visual images needed if manufacturing is in your mind. If the game will be an app, work toward establishing one that is seamless for mobile play. Also, have the graphic designer create your business logo and brand tagline. If desired, create some merch to sell prior to the release of the game. Build interest.
The next step is to use one of these business plan templates to prepare your game business for presentation to lenders or investors. Games are expensive to create, right? You’ll probably need funding to market, launch and continue the business; the plan will prepare your business in advance for funding coverage. Inside the plan will be an explanation of who you are and what your game is all about:
Executive summary: a brief overview of who you are, the concept for your business, information about your game and a financial forecast.
Market research: you’ll need to research the gamers who will buy your game. What games do most players prefer and how will you reach the gamers who you know will respond to the game positively. It’s all about playing and sharing the game with good reviews.
Consider any competition: Are there game companies already in existence who have very similar games? If so, you may want to reconfigure your game to differentiate your product from others. Ensure you are not infringing on a patent, if or when making changes.
Create marketing strategies: In the gamer’s world, it’s all about the marketing. As mentioned, you may want to sell merch in the buildup to the game release. Also, put into play press releases into the industry, build up social media posts, and create a website that teases your audience toward the game in development. Use a timer to countdown to game release day and market on industry sites and in spaces where gamers congregate. Ask friends to play and review, which will give the game a headstart in the industry.
In one of your last steps before the game release, present your business plan to the lenders and investors who are interested. Use a pitch deck, such as a powerpoint slide deck, to accompany the business plan. Outline the reasons behind the viability of the game, why it fills a need and provides a solution. In short, defend your game and business. Be prepared to also defend the amount of funding requested. Investors will fund without expecting repayment; however, they will also want a percentage ownership in your company. A lender will fund with the proviso that the loan be repaid with interest on a set schedule. Each options should be carefully considered, as funding doesn’t come without some strings.
Finally, launch your game with fanfare. Create a party to celebrate the launch and announce the big day on the website and via social media. Let everyone know with a clear call to action to acquire the game and play it. You made it happen. We wish you every success!
