Video Game Memorabilia Business

Video Game Memorabilia Business

We Have Set Out A List Of 10 Things All Video Game Memorabilia Businesses Need To Consider.

65% of start-up Video Game Memorabilia Businesses fall flat in the first three years, and 33% of those do not survive the first six months. To provide you with a better chance of getting through this period we have assembled a checklist of the ten things you must do to ensure your Video Game Memorabilia Business is successful.

  • Sole trader or limited company? The structure you select will impact on the tax you pay and the level of statutory and fiscal accountability that you are responsible for. As a sole trader you and your new venture are, in effect, the same thing, whilst the assets and liabilities of a limited company belong to the organization, which is legally separate.

  • Define your target audience. Attempting to sell everything to everybody cannot possibly work. Your company needs to aimed at your target audience and all that you do, from your companies online store to your promotions, must be of relevance to them. Consulting your soon-to-be customers will make them feel they are important to you, will create allegiance, and will boost the probability of them recommending your businesses goods and services to third parties.

  • Size up your Video Game Memorabilia Businesses competition. Who else is offering what you are preparing to do? What are their strengths and weaknesses compared to you? By researching your competition you can profit from their errors, as well as determine what their clients are looking for. You might also determine the amount buyers are probably going to pay for what you offer, as well as how you can differentiate what you offer from your competitors.

  • Get your Video Game Memorabilia Business noticed. There is little real point in having an amazing business idea if no-one knows about it; so how will you get your name out there? Assuming you do not possess a large marketing budget, begin small and focus on developing relationships. Utilize social media and online networking to begin creating a good image with not just likely clients, but also local journalists, possible suppliers, related companies and your local chambers of commerce.

  • Create a website. Did you know that 50% of small-scale businesses do not have a web presence? Most would like one, but they think they cannot afford one or they do not possess the know-how to get it together themselves. The latter may have been true two or three years ago, but modern website creation tools mean even beginners can now get a website and online store set up quickly.

  • Decide on your USP. Consumers will only stop buying from somewhere else, instead of yours, if you offer an improvement or something different. Your Unique Sales Proposition describes what is different about your goods and services, describing what your customers cannot get elsewhere.

  • Work out and obtain the correct amount of funding. In a perfect world you would have ample cash to finance the opening of your business, but, in the main, that is not really an option. Instead you might approach friends and family to see if they may be willing to help, or you could look into obtaining a bank loan or seek out an investor. You must also find out if grants are available for your business.

  • Write your Video Game Memorabilia Business Plan. Great Video Game Memorabilia Businesses were planned that way. This is your chance to establish that each aspect of your organization works and is sensible. If it is not, should you really go ahead?

  • Decide how your Video Game Memorabilia Business will sell to its customers. What is your organizations route to the market? Examine all of your choices, from market stall to eBay shop to mail order, to a retail or mobile stand, to picking up orders at networking events or on social media, to an email campaign or joint ventures or simply advertising via Google Adwords.

  • Decide when you should open your Video Game Memorabilia Business. You are ready to launch your business but do not be too quick to quit the day job. The money should be handy, as it could be advantageous to start putting together your new venture in your free time, and then make the leap when your company can sustain you and is truly ready for your full-time attention.

When it comes to making decisions about your enterprise you must examine these points:

  • Is this right for me as well as for the Video Game Memorabilia Business?

  • What impact will this decision have within each part of your Video Game Memorabilia Business?

  • How much might the decision cost and where will the cash come from?

  • If there is not enough money in the organizations budget, what will you give up and how will that affect the Video Game Memorabilia Business?

  • Are these decisions reflected in your Video Game Memorabilia Business Plan?

There are lots of questions you must ask in regard to the decisions you have to make. Making choices whilst you are under pressure may lead to a disaster but using an imaginative Video Game Memorabilia Business Plan means your decisions are significantly easier to take.

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