How To Write A Mobile Game Business Plan
If you have a game idea and you plan to generate revenue from it, then it’s important to approach its development as a business and not a hobby.
If you have a game idea and you plan to generate revenue from it, then it’s important to approach its development as a business and not a hobby. Even if your goal isn’t to make money off the game, you still need to invest money into the development, marketing, user acquisition and more.
Whatever your motive might be, you need a business plan to prove to investors that your game idea has the potentials to be the next big thing on the market. It will also give investors a reason to trust you with their money and a timeline of anticipated results. If you’re worried that you have no idea how to write a mobile game business plan, here’s a brief guide to help you.
This is the section where the reader either gets hooked or discards your document, so it’s important to make sure it is attention-grabbing. The executive summary shouldn’t be longer than a page since it’s a brief overview but it should sell your game idea convincingly.
After scaling the first hurdle, you need to clearly articulate the mission statement of your game development company. This section should perfectly explain all the investor needs to know about your company in a few words. So make sure you provide answers to questions like:
• What do we do?
• How do we do it?
• Whom do we do it for?
• What value are we bringing?
Be sure to also shed light on other areas of the company such as the legal structure as well as your team members and their level of experience.
Like every other business, gaming business can be quite risky. A good way to minimize these risks is to do market research to know the products that are similar to what your company has to offer, the pricing, your target users, the unique offer of your game idea etc. If properly done, a market research can provide sufficient insights into the readiness of the market to accept or reject your game.
Next, you discuss in the details the game including its nature, what makes it unique, how you intend to price it and more. Just make sure you cut the chase and get straight to the point.
Marketing and sales
It is possible to have a great product and yet get poor sales. People need to know about your game and to do that, divide this section into three parts: strategy, communication and prospects. As the name implies, the growth strategy refers to how you intend to grow the game development company and its products while communication explains how you intend to talk to your target audience (and eventually acquire them.) Prospects imply any unique opportunities that could contribute to the marketing of the game.
Ever heard the saying that business is about numbers? Investors look forward to the financial projections to determine if the company is worth investing in. If you’re like most game developers, you probably don’t know how to create and interpret financial statements. In such situations, it’s best to hire a professional to assist you.
If you did your research well, you should have a couple of references you may have cited or wish to include. This section covers any extra information that you would like to include in your business plan.
A business plan is the marketing tool for your mobile game, so it makes sense to give it your all as it may be the difference between winning investors over or getting rejected. It will also determine how well you will be able to attract game players and ultimately payers.