How to Overcome Your Fears and Start Your Board Game Business
Guest authored by Dean Burgess of Excitepreneur.net.
Have you been thinking about starting your own board game business? At Tenured Games, we know that running a board game company can be a lot of fun! But while many people have ideas for great board games, only a small percentage of them ever make it past the planning phase. Fear, self-doubt, and uncertainty are common among those looking to start a business. Fears arise at every step in the startup process. Perhaps you're worried that people will think you’re completely crazy for quitting your job and going all-in on a passion project. Or maybe you’re concerned that your business will fail, taking your time, money, and self-esteem along with it.
Whatever business-related worries are keeping you up at night, we’re here to help you overcome your fears and build the business of your dreams!
Start With a Business Plan
Starting out with a solid business plan can help you iron out many of the uncertainties involved in launching a board game business. In the process of writing a business plan, you will need to conduct market research to verify the viability of your business idea. This can give you confidence that your business has a good shot at success! Learn how to do market research in the board game industry so you can gather data about your competitors, determine the feasibility of your board game idea, and identify your target audience.
A simple way to get started with market research is to find a social media group that focuses on board game design. Those communities contain a self-selected target market of individuals who love playing and designing games. Polling these groups for the opinions of their members is a quick and easy way to begin gathering a following or challenge your baseline assumptions.
You’ll also want to establish a few business processes that will enable your company to run smoothly once you launch. For example, if you’re going to be working with clients, set up an effective invoicing process to save time and avoid mistakes. Each invoice should include clear payment terms to ensure you get paid on time. To create invoices that appear professional and polished, try using a free invoice template and customizing it with your brand name, logo, and colors.
Consider Your Funding Options
New business owners often worry about how they’re going to fund their new business. Designing and publishing a board game, for example, can cost thousands of dollars. Boardgame developers have two main options when it comes to funding a startup. The first is to pitch your idea to an entrepreneur who is interested in running the business, paying you a small fee for your design rights. If you want to run the business yourself, crowdfunding your idea through a website like Kickstarter will enable you to stay in charge.
Set Attainable Business Goals
Like a business plan, solid business goals can help you stay on track as you work towards the launch of your business. Knowing exactly what it is you’re working towards will help you make confident decisions that will get you closer to your goals. As Bplans explains, make sure your business goals are clear and actionable. Set a timeline for each goal as well as a specific metric by which to measure your success.
Enhance Your Skills
One of the best ways to gain business confidence is to improve your business skills. Look for opportunities to advance your knowledge of running a business. For example, working with a mentor—specifically one who has experience in the board game industry—can be invaluable for a board game designer looking to build a full-fledged business.
You can also find many educational opportunities online. For example, look for digital resources that teach you how to market your new company through online and offline marketing strategies. You could even sign up for a virtual business course that teaches you everything you need to know about starting and running your own company. The more you know about managing a business, the less scary it will seem!
Many creatives dream about running a board game startup. If you have a unique idea for a game and you think it has the potential to be profitable, don’t let fear hold you back! Research, planning, and educating yourself will go a long way towards settling your fears and ensuring you have the confidence to take your business all the way to the top!
Are you ready to publish your first board game? Tenured Games can help you navigate the business side of your creative company. Download our free board game finance templates to get started!