Turning your love for computer games into a business will feel scary yet exciting. The industry depends on creatives who are filled with passion and a desire to entertain audiences from across the world.
Yet, you are likely aware that you’ll need to overcome various obstacles to turn your budding venture into a successful business.
Regardless of whether you want to create AAA titles or indie games, some steps can increase your business’s chance of success. Read this mini guide to starting a video game company.
Set a Realistic Budget
Setting up a video game company will cost a substantial sum of money initially. In addition to a monthly office lease, you’ll need to invest in:
- Powerful computers
- High-quality monitors
- Digital drawing equipment
- Video games consoles
- Specialized software
Don’t forget to incorporate various fixed outgoings into your budget, such as monthly energy bills, broadband, employee salaries, etc.
There will be many initial overheads you’ll need to incorporate into your budget, too. For instance, you may need to hire experienced office movers Bristol to transport equipment and furniture to your new premises. Consider every potential cost to avoid unwanted surprises that could destroy your company’s finances.
Seek Funding
Once you have a firm understanding of how much it will cost to kickstart your video game company, you can then take steps to obtain funding.
Unless you have a substantial sum in the bank, you will likely need to raise capital from one or more sources.
For example, you could turn to a crowdfunding platform to raise money from potential video game players or the gaming community. Alternatively, you could apply for a grant or pitch your video game company to potential investors.
Also, many companies provide budding gaming entrepreneurs with special funds, which might be available to all game developers or those who are underrepresented in the industry.
Build a Creative Team
Once you have the capital to kickstart your video game company, you can start building your first team. It is crucial to hire passionate professionals who share your enthusiasm and excitement for the company and its vision.
Try to build a team with a diverse array of skills, such as:
- Animators
- Designers
- Writers
- Programmers
- Artists
In addition to hiring experienced professionals, don’t be afraid to welcome inexperienced yet passionate employees onto the team, as they might have a fresh perspective that could prove valuable to your business.
Create a Standout Video Game Company
As you will compete with thousands of video game companies nationwide, you must develop a standout brand to promote your business and engage gamers.
For instance, you’ll need to pick a memorable brand name that complements your company’s image and vision. Also, you must launch a professional website and develop an active social media presence that separates your company from its rivals.
Open a Business Bank Account
Every successful entrepreneur will separate their personal and business finances. To do so, you must set up a business bank account to maintain an organized cash flow, which can prevent overspending, tax complications, and budgeting issues.
Invest in Business Insurance
Business insurance isn’t restricted to construction sites and retail environments. Companies of all sizes and in all industries can experience accidents, damage, or losses, and business insurance can help cover the cost should the worst happen. It’s a small monthly cost that could help your video game company bounce back from a large compensation claim or financial loss.
Choose a Genre
Once you have the fundamentals set up, you can focus on developing your company’s first game. Choose a video game genre that fills you with excitement, as it will help you create a creative title people want to play.
Try to think up as many ideas as possible, and don’t be afraid to let go of most of your ideas, as they won’t all be worth your team’s time and effort.
Create a one-page concept brief for a potential game idea, which should include:
- A working title
- A one-sentence description of the game idea
- A brief description of the game’s USP and key features
- Information on gameplay, visualization, the target audience, and the target platform
A concept brief can help you make an informed decision on the best title to develop.
Research the Market
Before you develop a title, you must analyze similar games from your competitors to see how well they performed. For example, research your rivals’ sales, reviews, and unique features. If your game will not provide players with a new concept, it’s wise to consider an alternative idea.
