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If you run your own games industry business, your daily to-do list is probably overflowing with important tasks: completing projects, communicating with your customer, directing your development team, handling distribution issues, creating marketing assets, and in some cases even coding or creating art for your game -all of which are vital to running a successful business.
However, there’s one task that doesn’t always make the list, but is arguably one of the best things you can do to support your company’s long-term stability and growth: business development!
This guide will introduce you to basic business development skills and useful programs and software, as well as tips for integrating business development into your daily routine.
Why constant business development is important for your company
The top eight skills that support a strong business development strategy
Introduction to the most popular tools to use for daily business development
Examples of how to conduct business development on a daily basis, as well as during a conference or industry event
Ongoing Business Development Is Important
To ensure a healthy, thriving business, you must always be moving forward. This means reaching out to new clients, searching for businesses to partner with, or finding ways to improve your product or service so it’s the best one available on the market.
If you neglect or completely ignore business development, you could face severe consequences sooner than you think. Once your business starts to stagnate – or worse, moves backward – you’ll only make life easier for your competitors. Constant business development helps your business gain momentum, which leads to new customers, opportunities, and hopefully profit!
What is Your Weakness?
Whether you do business development daily or you’ve never given any thought to it, chances are that you are probably naturally good at certain areas of business development, and unnaturally awful at others. While it’s a great idea to play to your strengths, ignore the temptation to skip out on the -hard parts.- Business development works best when you give equal attention to all areas.
Read through the following list of skills and consider which of these things you are best and worst at. Jot down which specific skill or skills are your weak points. Key Business Development Skills:
1. PR (Public Relations) and Messaging
Telling customers how your product or service will solve problems or improve quality of life
Finding potential clients or areas to expand your business
Pursuing interest in your product or service and gauging commitment
Offering the right amount of work for the ideal price
5. Project Management
Planning and controlling resources
6. Team Management
Coordinating and tasking individuals
7. Getting Paid
Securing income to make your business model sustainable
8. Getting Endorsed
Asking clients to testify that your product or service is top-notch
In the next part of this guide, I’ll break down each skill into its key points. Pay special attention to the section that corresponds to your weakest skill(s) and keep in mind that, like most skills, it will take practice to improve.
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Collectively, we have over 100 years’ experience in all facets on the video game industry. The powell Group is able to leverage that experience into an exceptional network of experienced partners, advisors and service providers to tackle and go-to-market challenge our clients might face. Jay, our founder, would like to hear from you!