A live thread for Q&A with @newsmary of @RowanRookDecard on making your business successful and other helpful tips

There can be a lot of good ideas which aren't businesses and businesses which aren't good ideas. This Q&A is not about how to make a good idea but about how to turn the idea into a business

Intent matters! If you want to make this a long-term business, the decisions you make might be quite different from just running with an idea

Kickstarter of Goblin Quest in 2013 was a wild west of kickstarters, it was a decision of just pressing a button, not yet a business direction/decision

The intent changed from getting a project into the world to building things sustainably, building long-term passive revenue

The key is to build a backlog catalogue of projects which can sustain you

Questions to consider:
1. Do you want to do this full-time, part-time on a project by project basis?
2. Consider at the beginning the purpose, values and ethics - eg what impact should the product to have? What are the core values?
Setting it down upfront changes your approach!

3. What does success look like?
4. What does failure look like?
5. What resources are you prepared or not prepared to put in?
6. What if you hit your dream goals very quickly? Prepare for that as well.

7. What skills do you have and which ones do you need to outsource? The only limited resource you have is time so consider how you'd best spend it

Once you've determined your goals, consider the trade-offs. The more of the profit you want to keep, the more problems you'll need to solve yourself since you'll be moving away from distributors/third parties who've already solved those problems for you