What a relief! The class was originally scheduled for Halloween, but Samhain, Morrigan or Anubis must have taken pity on me, because it got moved to Tuesday at the last minute. I mean, Halloween in my house is basically Christmas times ten, and the thought of trying to juggle work, class, costumes, and candy-fueled chaos was giving me hives. As it turned out, Tuesday was a much more civilized affair - my 5-year-old was happily entertained on his tablet (at an impressive decibel level, might I add) while I settled in for another session of Indie Ignition.
Ryan's ominous warning echoed in my mind: "Judges are getting locked and loaded" for the pitch competition, just three short weeks away. Yikes, indeed! But before we had time to unpack that fray, we had some essential learning to tackle.
Nicol Law's team of experts - who generously offered to incorporate our company for free - presented on corporate and intellectual property considerations. I was actually super pumped for this session, as it's an area where I'm not exactly overflowing with confidence. Dan and I exchanged our usual side conversation, furiously typing notes and questions as we absorbed the valuable insights.
We learned about the differences between business structures - corporations, sole proprietors, and partnerships - and how most businesses, like ours, start as partnerships before evolving into corporations. Nicol Law emphasized the importance of contractual agreements, especially when collaborating with others. We're already thinking ahead to potential partnerships, and it was reassuring to know we're on the right track.
One gem that stood out was the concept of "hire slow, fire fast." It sounds ruthless, but it makes sense - we need to prioritize our company's best interests and have a solid team to quest with. We're eager to hire students and create mentorship opportunities, breaking the vicious cycle of "no experience" vs. "need experience." Having industry experts on our payroll while contracting students is a model we're passionate about.
The discussion around intellectual property rights was fascinating. Copyright, trademark, patent, and trade secrets - it's a complex landscape, but Nicol Law made it accessible. I loved the Latin phrase that popped into my head: "Hoc simplicius multo est in comparatione" (This is much simpler in comparison), because Latin is actually easier for me to understand than corporate law. Okay, maybe it's not that simple, but Nicol Law's expertise certainly made it feel more manageable.
We delved into funding conversations, exploring how corporations can facilitate fundraising and the importance of documenting agreements. It's daunting to consider investors, but we know it's inevitable. I couldn't help but think of Dragons' Den - those investors always seem to want everything for nothing and overall, the process is intimidating!
The Q&A session was, as always, incredibly valuable. I appreciate how Indie Ignition allocates time for these discussions. Swag was even up for grabs for answering questions, but my online fingers weren't quick enough.
A fellow classmate did an impressive pitch, showcasing a polished and visually appealing presentation. The feedback was spot-on, encouraging him to maintain his tone while providing more specific gameplay details. Sitting in this room, listening to my fellow classmates share their insights, is truly humbling. Honestly, it's awe-inspiring to witness their expertise and passion firsthand. I wish the world could tune in to our Q&A sessions - it would be eye-opening to see the collective brilliance and camaraderie in action.
Reid Hoffman's words echoed in my mind as the evening came to a close: "Starting a business is like jumping out of a plane and building the parachute on the way down." Tonight, that truth hit painfully close to home.
Just as I was reflecting on those words, my exhaustion caught up with me - the family plague had finally taken its toll. Relieved that the night's discussions were over, I surrendered to my sniffling, sleepy state. A hot toddy (or two) and a face-plant into bed were beckoning. And as I drifted off, I smiled wryly - parenting lesson 101 - no one escapes unscathed.
Here's to jumping out of planes and building parachutes together, and until next time, stay fearless and focused! Kerry Sharples
Co-Founder PlayTheos
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