September 23, 2021
What do you need to start a gaming business?
Gaming has become a highly successful industry in recent years, transforming itself from a niche hobby to a global cultural force that has come to rival entertainment industries such as Hollywood for investment and revenue, as well as social capital.
This, combined with rapidly increasing technological innovation, which is changing the way in which players can interact with computer games – such as virtual reality, blockchain technology and NFTs – is creating countless opportunities for entrepreneurs with a passion for gaming.
However, as with any business, starting from scratch is no easy task. You will need to perform a detailed viability study, as well as ensure you have the correct equipment to make your business a reality.
This is what you need to start a gaming business:
You need to have the right equipment
The first element of a gaming business you need to consider is what equipment you need to start with. It may be that you are starting out as a solopreneur, without any staff or offices. You will still need the necessary tech to run the business by yourself, especially if your business involves you creating or playing games from your computer.
It is best to decide what you will need to use your PC for – whether that is to program, design games, play them or sell them. These tasks will all put different demands on your PC, so it is best to search around – such as on lenovo.com to find the right device for you.
You will also need to invest in basics like a strong internet connection, high-quality website, as well as look into more specialist tools such as a VPN for security and any game development software you might need.
Decide what your business is going to focus on
Start-ups that launch in exciting and lucrative industries like modern gaming can often make the mistake of trying to surf the wave of every opportunity in the market.
For example, you might want to focus on developing games that make the most of virtual reality technology, or become a professional esports organizer.
Alternatively, you could explore the relatively undeveloped blockchain market, which promises previously unimaginable potential – such as the ability to create a digital metaverse, which joins games together and allows players to essentially live a portion of their lives within online platforms.
Given the rising popularity of NFTs, which allow gamers to create and sell their own in-game products, there is no shortage of potential business opportunities.
However, to attempt to become involved in all of these niches is a mistake, because your brand will become watered down and your resources stretched. It is best to specialize in a single area, which gives you a better chance of becoming the best in your niche, and more recognizable to potential customers.
Hire freelancers to fill in any skill gaps in your company
Another key aspect you need to consider if you want to start a gaming business is your staff.
While you might find that you can initially work by yourself, the time will come when you need to fulfill roles your skill set doesn’t fit – such as sales, administrative tasks, marketing and accountancy.
While you could hire full-time staff, it might serve you better to hire specialized freelancers who can build a particular area of your business (such as your social media following) and then leave, without you needing to spend money on a full-time staff member.