The video game business is huge across the world. It’s expected that the global revenue from the industry will be more than $90 billion in 2020. This has risen from $78.61 billion in 2017. UK developers are making sure that they get their share of the market.
There are many successful gaming startups in the country. However, there is still room for new startups to enter the UK gaming market. There is potential for success if prospective gaming entrepreneurs take the right steps when they start out as a startup. The market itself presents significant opportunities.
The flourishing UK gaming industry
These opportunities exist within a diverse and healthy UK gaming industry. Creative minds within the industry have devised some of the most famous games in the world. For instance,
Grand Theft Auto was created in Edinburgh and The Batman: Arkham series was devised in London. There is room for every corner of the market in the UK, with sites like Famouscasinosites.com showcasing examples of the best that casino gaming has to offer.
Aside from this diversity of content, one of the most positive aspects of the gaming industry in the UK is that over half of gaming companies are based outside of London and the South-East. There are opportunities for gaming entrepreneurs across the country to participate in an industry which contributes in excess of £1.35bn to the economy. So, if you believe that you can be one of those entrepreneurs, what advice do you need to know when you are starting out?
Get to know as much as you can
Having a great idea for a gaming concept is not enough to be successful as a startup in the industry. If you are thinking of setting up your own video game business, you need to have as much background knowledge as possible. For instance, you need to read the latest headlines, analyse the latest industry reports and research your competitors. This helps you to get a better understanding of where to focus your attention.
Know your principles and build a like-minded team
You need to have a good understanding of what makes you tick and how that will relate to your business. What will the ethos of your startup be and what is the USP? With this in mind, it’s important to search out people who will be a good fit to join your team. Not every great developer will have a similar mindset to you.
When you are creating your team, you should also look for individuals who have passion and excellent problem solving abilities. These traits will help them in dealing with advances in technology along the way.
Seek out the right mentors
Think about where your expertise is least well-developed and choose mentors who can help you in these areas. For instance, you may have great design ideas and development skills but need a significant amount of advice and support when it comes to investment or marketing.
Partner with investors who believe in you
Every gaming startup needs to ensure that it has the right level of investment in place. However, securing investment should never just be a financial decision. You need to seek out people who are likely to believe in the ideas and plans that you have. Make sure that your investors have the same vision as you. If you do not do this, you could end up in a very rocky relationship down the road.
Create the business that you want to work for
Creating your own gaming startup is not about trying to mirror what other companies have done. You need to sit down and think about what is important to you when it comes to a workplace. This could be making sure that there is an encouraging atmosphere or being supportive when it comes to out of work situations. These ‘must-haves’ should be at the foundation of the business that you create.
One last important point to remember is that growing a successful video gaming business is not easy. Just because you love gaming does not mean that you should think about creating a startup. You should only go ahead if you are prepared for hard work and have the passion and motivation that you need to succeed.