First, I'll clarify that my company is a business; one with full-time employees, salaries, and real-world expenses. We operate fairly lean (we all work from home!) but we could be cheaper (we live in Vancouver!). We are interested in turning a profit in VR only so that we can keep making art. Therefore, this advice might differ if your burn rate is higher, or if you are doing this part-time/have other employment to keep you afloat, or if you aren't "selling direct to consumer" as your primary business model.

Today (mid-2018) the VR market is in an interesting place. We've been through the hype of 2016, we've been through the trough of disillusionment in 2017, and we're climbing our way back out the other side. Things are looking up, but launching today might be dire for your studio. If you start work today, you might be able to release a killer game in 2020 when everything is amazing. It'll be amazing in 2020, right? right??

VR has been highly unpredictable, and anyone that says they know what the future will hold can't possibly. The VR economic and business landscape shifts every quarter, and your opportunities appear to dry up from under you as new ones appear on the horizon. The key to succeeding in VR is to act, and to act fast - if your plans take you beyond a quarter and you haven't signed any contracts, your assumptions are probably going to be out of date.

Here's some points I keep in mind when I'm trying to plot our future:

Now that you know what you're getting into - you miss every shot you don't take. Roll those dice. Try to stack them in your favour. Have a plan for failure. Take care of yourself and your team. Don't go out of business with blind hope that luck is on your side.

Note that many studios are intentionally taking a loss in VR so that they have a robust knowledge-base and brand-recognition before the market does finally become viable. If your team can afford this, seriously consider this opportunity. If you are thinking about long-term business goals and not just "the next game" it expands your ability space by quite a bit. Nobody wants to start making VR once the industry becomes profitable - everyone wants to be shipping a game on that day.

This is one of a handful of VR advice pages I've written. Check out the index for more.