Question

Complete a final business plan that should include all sections of a business plan including any appendices with resumes, and supporting documents for your business. Before compiling, The business should be presented as if you were presenting it to an investor.

Answer 1

A business that I would like to start is a video game company. Since it would require a large capital investment. I would seek to go for funding or for a partnership, in case there are multiple partners, our business model can be a partnership or sole proprietorship with a sense of managing board and profit agreements in the form of paid royalty. For the initial phase of the business, we would require a structure that would enable us to carry out our dealing and create a footing for the business, this would include securing a working place, work staff, preparing a detailed pipeline and product channel. Starting small and expanding this business is going to be the goal in the future sense. For further expansion of the business to include other states and multiple holdings throughout, the company would then be made into an LLC. With the initial model being that of a private corporation where the owners are the primary investors or the stakeholders in the company. This model will be followed till the company can adjust its footing and stabilize the flow of profits. Till a point, the company requires the public corporation model and allow the company shares to be sold but that will be the last step of the plan and would take a lot of time to get to.

This model is the most useful for this business scheme because it will allow a single user to take charge of running the business without as much outside interference as possible till a point where it is feasible to follow a model that allows multiple partners to be included over the working of the financial and business aspect of the company. ?

The video game industry follows the following standards and procedures during the development cycle of any video game:-


STORYBOARDING AND IDEA IMPLEMENTATION: In this phase, the creative department comes together to brainstorm ideas and concepts for their new video game and includes the input of all the departments in creating the essential bare bones for the project. Managers can set the different roles and responsibilities and level of input while standardizing the pipeline and schedules for the project.

PRODUCTION AND DESIGNING PHASE: All the departments work separately under their own managers that know the scope of the project. It is in this phase that all the modular elements are created for the project which includes asset production, music, visual elements, programming, and interfacing. Managers have to set deadlines and essential WBS structures where all the departments that are dependant on the other department’s work can coordinate effectively.

MIXING AND TESTING PHASE: This is where all the modular elements that were worked on separately are brought together. This includes the departments interacting with each other on a regular basis. It is crucial for managers to create deadlines and quality standards efficiently in this phase as this is the phase that requires the most amount of time and work. Also, managers need to efficiently resolve issues as this phase requires the re-implementation of various assets and the need to constantly keep on going back and forth.

BUSINESS PHASE AND MEETING: This is when the final product from the work of all the teams in conjunction is introduced into the market. This phase is all about marketing the product effectively. The placement, price, and promotion are all equally important. Therefore the managers need to keep in mind the cost of production and effectiveness of their design and likelihood of success at a particular market. This could include setting up research teams, survey teams and management teams which would require a connection between the various parts that need to be effectively managed.