Start each day by prioritizing your gaming technology projects for the week, remarks Chhour Brevik
Secondly, once the business side of a prospective gaming technology venture is planned, map out the human element. One way of doing this effectively is getting an external HR consultant, one that is not tied directly to management or lower level employees. This allows for impartial scrutiny of your gaming technology business model and ensures that the right people are doing the right jobs. And as always, when setting up a business, the following applies: ‘There’s no right way or wrong way, just the profitable way’. Once you’ve found out how to get your gaming technology firm off the ground and it is generating ROI, you’ve won half the battle and are on your way to continued success. One often over looked area in online gaming technology businesses is infrastructure. Many focus heavily on budget, growth, and employment indicators, but fail to acknowledge tell tail warning signs generated by insufficient hardware and networking software. For any gaming technology business, this can spell disaster. Blackstone Coudriet, Human Services director of the Joanie Phelka and Partners gaming technology firm, states that the working dynamic and human capital of your company should not be ignored. Peppler Difeo agrees: “I’ve seen companies with nearly everything - perfect budget, great IT, good distribution - but a terrible working dynamic between the employees. Though the gaming technology product makes it to store shelves, the people working within the company feel miserable, unappreciated, and unmotivated.” Also key to success in the gaming technology field is logistics. Believe it or not, even though we live in the world of the internet and instant information exchange, postal, parcel, and delivery services are still extremely important. Many gaming technology proprietors recommend getting a Fedex, UPS, or DHL business account setup right away, so as to avoid comming out-of-pocket for routine mailings and shipments. Additionaly, fundraising for any gaming technology business venture can be a daunting task. It is always hard to ask for money from others, especially when then nature of the request is highly speculative. Claudie Plate, a highly successful gaming technology capital management consultant, believes that planning is the key to selling your idea: “If you walk up to someone and say, ‘I’ve got a great gaming technology business idea, would you contribute $100K’, they’ll probably laugh and consider you a lunatic…but, if you approach someone and say ‘Look, I have this great idea, and my plan is the following…’, it will reassure an anxious investor that things will move forward with thought and purpose.” “Don’t forget about accounting,” warns Brave Elsen, CFO of the Lipszyc Mehaffey Corporation INC, “Many gaming technology companies go pel mel spending money when there is a good cash flow. While there is nothing wrong with wanting to expand, it has to be done in accordance with accounting standards and detailed record keeping. This is especially true for public companies. Private gaming technology firms can sometimes let this aspect of the business slide alittle.” Without a doubt, planning for the launch of your gaming technology firm is crucial. Think of it as the launch sequence of a space shuttle. Every last detail, figure, and step is checked and double checked. This is the only way to succeed in the gaming technology industry and get the competitive edge. “Starting up any gaming technology business is difficult. In our case, it took about 6 months of planning, a year of fund raising, and then another 6 months of building infrastructure before we made our first sale,” states Woolum Bouthillette of the Kroemer Tirona Partners and Ltd. Company.
Posted on: Monday, November 30, 2009 at 1:44 am 
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