Pixonic head Philipp Gladkov assembled 5 tips to entrepreneurs who plan to develop their business in gaming or other areas, opening up about why he believes executives should talk to competitors, why one should think about assembling a management team in advance, and how one should build a relationship with investors. 

1. Talk to the market and your competitors

It's important to build relationships with companies that operate in your market – I'm not talking about direct competitors here, ones that you battle for customers on the daily. However, there are probably other companies around that make a similar product in another segment – the market may even have room for everyone.

Exchanging experience and small tips will expose you to a bunch of ideas, which will eventually help you grow. When you deal with a large number of companies, you can solve problems almost instantly. You have to understand that you're not alone in the business, that someone's already come across the problems you're facing. 

So instead of reinventing the wheel, it's better to learn from other companies. No one's going to share their know-how (and I don't blame them), but regular exchanges will help identify verified contractors and suppliers, and will give you access to industry-related tips and market news. Companies that aren't in sync with the market are typically very far behind the ones that are more open and "sociable", so to speak. 

2. Think about your management team in advance 

Starting a new company requires a small, close-knit team of industry experts, with each member playing a part in the product's creation. As the company begins to grow, you need to start thinking about your management structure in advance. 

It's important to understand that making a manager out of a specialist takes time – and even then, not every specialist may want a managerial role. A lot of people may continue to prefer a hands-on approach to the product – identify the people that you think are ready to take the next step ahead of time (and start moulding them into managers). 

You'll also have to grow yourself – as the company develops, [as an executive] you'll have to move away from handling the product directly. You'll need to focus on the work of your employees. Let them grow – they'll perform their tasks better without you micromanaging them. 

3. Develop financial literacy and discipline 

When investments are sparse, and all of your company's expenses go towards renting a small office and covering the salaries of a couple of employees, it's all very simple – all of your firm's finances can fit into a small report. As soon as you gain some size – your firm starts to turn a profit, you hire your 50th employee, the number of bills per month passes 100 – it's probably time to upgrade your finance team.

Make no mistake, you'll need to dive into the finances yourself – concepts like EBITDA and receivables and payables are essential, as is the understanding of why companies need reserves. Your product will always be important, but financial literacy and discipline will open up new opportunities that will help you plan ahead, avoiding unpleasant issues along the way.

4. Engage PR from the get-go

Take care of your company's brand in advance. At the very beginning, you won't have the money for quality PR. Make sure that you become an expert in a given field – alternatively, openly share your knowledge, and tell people about your company and product. This'll help you when you'll need to expand your team and draw upon market expertise.  

Maintaining your brand's relevance is much easier than building it up from scratch, or vice versa – bringing it "back to life" in the media is much harder than following a well-structured plan. 

5. Build relationships with investors

It's vital to build mutual understanding with investors. Bear in mind – the CEO's role is to manage his team, his firm's finances, and his investors. The company will have its ups and downs – to learn from investors' advice and experience, you'll have to keep them in the loop at all times. An excellent way to bridge the gap between them and yourself is by maintaining financial literacy.