Esports Startup Tips from the Experts

The esports industry has experienced massive growth over the last decade. It is estimated that it will bring in $1 billion in revenue this year and hit $1.8 billion by 2022. Its incredible success has inspired many gamers and entrepreneurs to start their own esports businesses and teams. There are numerous opportunities in the esports  industry. You can become a professional player, sell gaming gear, launch an esports team, train esports players, or offer support services.

But becoming an esports entrepreneur isn’t easy. You need a viable idea, passion, hard work, and lots of planning. But the good news is there’s huge potential for success because the industry is currently enjoying fast growth. So, if you’ve decided that esports is the industry for you, use these startup tips from the experts to succeed.

1. Carry Out Market Research
If you have a passion for the esports industry, ideas can come easily.  But for you to turn your idea into a money-making business, you have to do lots of market research. While the esports industry has enjoyed tremendous growth over the years, take time to research the esports niche you’re interested in. You have to come up with a plan that shows how your idea will meet an unmet need in the industry.

2. Choose a Specific Esports Business
Once you’re done with research, decide the type of esports business you’d like to launch. You could start an esports team, a technology consultancy, esports journalism, a marketing service that focuses on gaming, an esports association for pro gamers, a website that sells gamer merchandise, or create Twitch content by streaming your games. And since the industry is growing, you can also come up with a completely new idea that may revolutionize the industry--like what Google did.

3. Get Financing
If you intend to launch an esports team, you’ll definitely need financing. You’ll need to  fund marketing campaigns, pay player salaries, or invest in online platforms. In any business, cash is king. While most businesses in the digital sector look for investment in the form of seed capital or equity, debt funding can offer many advantages to a borrower. You retain control of the company and can take it in the direction you want

Financial experts advise esports entrepreneurs launching small businesses to start small by taking small business loans or car title loans online. They are easier to access and don’t have a long-term negative impact on a business--unlike long-term loans.

4. Collaborate and Network
No business is an island, so take time to build industry contacts. Collaborate with other businesses and partner with complimentary businesses. You can team up with esports event organisers, service providers, esports teams, or streamers. Just don’t partner with a competitor.

If you’re starting an esports team, connect with potential players, event organisers, and seek out potential sponsors. If you’re launching a website selling gaming merchandise, connect with publishers who know what’s happening in the industry. Strategic partnerships are fundamental to improving business outcomes.

About The Author:
Adam Smith is a content writing guru at Contenterist. He is adept in IT as well. He loves to write on different topics. In his free time, he likes to travel and explore different parts of the world.

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