Posted in Startup
One of the most lucrative investments of recent years is the mobile app startup. You could say startups have become the new “American Dream,” or better yet, the global dream. There is a growing number of investors shifting to startups in spite of the fact that 90% of startups fail. The logic behind the availability of funds for startups is mainly because if a startup succeeds, it usually does so in a big way and once it becomes viral, the only barriers to its success is the app’s seamless execution and bug-free operations. The startup has to work or it will be dropped. No amount of savvy marketing can make an app succeed if it fails to deliver on performance. Add to this the fact that the world is hungry for new ideas and conveniences and will try anything if it offers a chance for higher productivity, the element of fun and adventure, or greater value.
The Startup Dream ...
There is something extremely gratifying when you see your idea not just become a product but become a product that thousands want to have. Starting your own mobile iOS app business is a move in the right direction because mobility is driving the Internet business forward. More people want mobile access and enjoy the liberty that comes with being able to tap into the Internet from anywhere at any time. To take your app idea and turn it into a working mobile iOS app, you need to have more than an idea. There are critical stages in starting your own mobile iOS app business that includes creating the core team, establishing parameters, deciding on a strategy, and understanding your market, among others. In fact, the entire process can be segregated into the following: The Idea, Potential, Barriers, Execution, Sustenance, Growth, and Future. Your Startup Idea
The word “idea” comes from a Greek term “idein” which means “to see.” Your mobile iOS idea should be a vision that can be validated with proper research. An app should offer something new, innovative, or better than what is already in the market. With a global market, there is a lot of work that must be done with your idea to find out if investing any money and time would be worth the effort.
The keyword to focus on is “Potential.” An app’s potential can be measured by the number of people you want to target to use your app and how much time can be spent using your app. For instance, if your app targets geothermal scientists, you will have a limited market because this is a very specific and close-knit group of experts. There’s nothing wrong with a small market as long as you accept that growth will not be as promising or profitable. On the other hand, if the reason you want to get into the mobile iOS app business is to make money, put your stamp on the app industry, then you should look for an idea that can target a larger audience. For example, if your app idea targets young adults who want to be more productive, then your idea has the potential to attract millions around the world.
Keep in mind that having a wider audience increases volume as well as app engagement while a more tailored app for a specific market segment may not attract volume but has the potential for users to stay on the app longer. Thus, there is a trade off in the sense that the more exclusive your app idea is, the higher the user engagement may be while the more popular idea would probably have a lot of competing apps and lower user engagement.
Possible Barriers to Overcome Every app development project will face barriers like fluctuating capital investment, market competition, and marketing, to name the top 3. This does not include the barriers to face once the app has been launched such as customer retention, business conditions, slow sales, dwindling funds, and high cost of operations and overhead, to name a few.
Starting your mobile iOS app business involves money, time, and experts. It is important to get these organized as soon as you are able to confirm that your app idea is feasible. Your app business is on the clock. With so many individuals all racing to be the next trending app, the sooner you can get the app launched, the higher your chances of not getting usurped by someone with a similar idea.
According to a September survey on app funding by Entrepreneur, about 80% of app development projects are self-funded. In fact, the same survey says that only 1% of apps being developed are funded by VCs while 3% come from Crowdsourcing. The rest get their funding from family, friends, or by applying for loans. There are a number of websites that offer crowd-funding services like
The main issue with capital investment is that the money can go out so fast that after the app has been developed, there isn’t much left for sustaining its operation. This implies that your initial investment should not be the one and only source for your app business unless that source is infinite. As the app is being developed, you should consider replenishing your funds as well as making sure you account for every dime that is spent.
As far as competition is concerned, you need to stay ahead by keeping a close watch on the apps that are being launched daily. This way you can make adjustments in your app that would be “one up” on the app that is most similar to the one you are developing. Another barrier is making sure your app can be discovered by your market. This means starting on a strong marketing strategy that:
- Defines your market
- Creates an app website and is able to drive traffic to the app website
- Able to spot trends
- Puts your app in relevant sites for wider reach
Execution of Your Mobile iOS App
One of the basic questions to answer before starting on the app development is deciding between native development or cross platform. Your decision should be based on who your audience is. With native development, you get higher user engagement but costs will increase. Another decision to make on app execution would be how to be the best. Truly, it’s that simple. And launching the best means making sure that:
- The app has no kinks
- The app is responsive and well-designed for mobile
- The UI has different resolutions for a variety of mobile devices and has been rigorously tested
- The app is as simple as can be so the users won’t get frustrated and decide to dump it altogether
Finally, the sustenance, growth and future of your app will depend on how you are able to turn the app into a self-sustaining product. Work on the monetization way ahead of the launch so you can plan the marketing and advertising. Many apps fail at this point because they only concentrate on getting new users while forgetting to take care of those already using their app. You can take care of your critical mass by adding better features to your app and making sure their inquiries are attended to in a timely manner. Most definitely, the future is crazy bright for mobile app development. If you have a great idea, you should pursue it.
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