Brainstorm a winning idea for your application business. Keep the functionality and design of your app simple. Put your idea down on paper and create a mock-up/wire frame of your app.
Once you’ve settled on the idea, you’ll need to conduct market research to better understand your target market, competitors and how well your app business will perform. Here are some aspects to look out for when conducting your market research: target users, scalability, competitors, pricing, consumer behaviours, marketing opportunities etc.
The next step is to identify which platform you want to serve. Currently there are two prominent platforms to choose from, namely Android and iOS. Choosing between native, hybrid, or web carries many implications for development and maintenance. For this reason, it is key to leverage your market research, so you can make the best decision for your app business.
Depending on your goals you’ll need various coders, designers, copywriters or even photographers to make your app work. Search and build a team of people who are committed, work well together, and are passionate enough to bring your idea to life.
Create an interactive prototype that can be tested by both users and investors. This prototype will act as a test-drive for your app business, because there is a risk that the app might need improvements. If users enjoy using the prototype, then there will be a higher chance of success when you launch your app later on.
Develop a business plan that contains both revenue model and you business strategy. Would you want to make the app free or paid? The app business is very competitive and dynamic, thus developing a good long-term strategic plan will help keep you on the right track.
The next step is getting capital. There are several ways to obtain capital for your app business. You can source for investors, take a loan or even start a crowdfunding scheme. Since you’ve already created a prototype, sourcing for investors will be easier as a working prototype persuades better than wire frames or your words.
Once your app is ready, it needs a marketing strategy. Think about advertisements, promotions, and public relations. Create a website and utilize social media to advertise your app business to all your potential users. Get tech bloggers and press coverage’s to do a review on your app.
Finally, monitor user feedback’s diligently and upgrade/improve as you go. Always have a contingency plan if things don’t work out according to plan.