Today’s episode is called "The Biggest Lie in the Tabletop Games Business." And that lie is some variation of this thought: "You can't be really successful or make a substantial amount of money running a game store."
Now, if you've been in this industry for any amount of time, you've probably heard some version of this. Maybe you've even thought it yourself. I’ve been putting together this podcast for over 10 years now, and I can recall several guests more or less saying the same thing.
The idea that running a game store or launching a tabletop game is a passion project at best.
But here's the truth: that belief is not only false, it's holding back countless game store owners, creators, and entrepreneurs from achieving the success they could be having.
Let me caveat this real quick. The folks repeating this belief online mean well. Starting a game store has a notorious and well earned reputation of having a low bar for entry, which means that most would-be store owners are under-funded and under-prepared for the realities of running a retail business.
Finding hard numbers on this is tough, but I would estimate that for every game store that exists and has been open for 3 years or more, there are between 10 and 20 stores that didn’t last more than a year or two. And those failed store owners, whatever the cause of the failure, disappear from the conversation, so we have a Survivorship Bias situation in online retailer groups.
So the general advice given online when someone asks about starting up their own shop is “Don’t do it.” The advice givers knows how difficult the business is to build and grow, so it’s correct to discourage someone who might not be ready to put off their dream or try something else.
I’m not arguing against that. I think recommending a prospective store owner come to the table with more resources and knowledge of the business will only increase their odds of success.
This isn’t what I’m talking about in this podcast.
I’m referring to the ingrained belief/mindset of game store owners that it’s not possible to become “wealthy” running a game store. One manifestation of this mindset is store owners discouraging would-be store owners from entering the market in the first place, but it also subconsciously limits their own potential.
There’s a quote attributed to Henry Ford that encapsulates this really well.
“Whether you believe you can or can’t, you’re right.”
If you believe, deep down, that the best you can do with your business is to muddle along and provide yourself and your team with a basic level of income, you’re not only wrong, you’re doing yourself and the people who rely on you a disservice.
Let’s get into the psychology of this for a moment.
There’s a psychological phenomenon called the Pygmalion Effect, where higher expectations lead to an increase in performance. It suggests that when someone, for example, a teacher, manager, or leader, expects a person to perform well, that person is more likely to meet those expectations due to the positive reinforcement and belief in their abilities.
The concept is named after Pygmalion, a figure from Greek mythology who sculpted a statue that he fell in love with, which was later brought to life by the goddess Aphrodite.
Positive expectations can influence behavior, motivation, and self-esteem, leading to improved outcomes. Well, this applies to more than just the people you have working for you. In many ways, you are your own manager. The things you believe and say get internalized over time, and shape the actions you take in the future.
If you believe you’re destined for great things, that you are smart, talented, and capable of making a big impact on the world, you are much more likely to actually make it a reality.
There is also the opposite phenomenon known as the Golem Effect.
When low expectations are...
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