When you think about video games, your first thought is likely not about the business and financial side of things, but the video game business, like all other major industries, puts a large emphasis on money. No matter what the status of your game company is, money is at the center of all your current needs and future goals. During the infancy of starting and growing a game studio, you are constantly looking for funding to help take you to the next level. Then once your financial needs are met, your focus shifts to generating revenue.
This week on Mastering Retention, Annina Salven (CFO at Next Games) joins Tom to talk about creative ways to draw in investors, increasing revenue, and tips for meeting and exceeding your studio’s goals.
Here are your cheat codes:
- 1:45 How did Annina Salven get into the video game industry?
- 7:03 Setting your game studio up for future financial success.
- 12:09 Visualizing your goals helps you achieve them.
- 18:17 Next Games process for vetting concepts and ideas.
- 21:01 Bootstrapping a mobile games company.
- 24:50 What drives financial investment for game companies?
- 29:38 User acquisition funding in mobile gaming.
- 37:34 How to ensure liquidity.
- 41:25 Alternative ways to acquire users.
- 49:39 How to keep more players around for longer.
Ep 79: Tips For Financial Success