The image that comes to mind when thinking of a successful business person would be probably the same for most of us. A person in a formal suit in front of a huge factory with thousands of employees.
However, the Internet has very much changed this perception. It added new shapes and forms in which winning businesses can present themselves. Some of them may be run by the owner’s house or have a team of just a few people and still be very profitable.
One of the new professional figures that rose from the Internet is the “Appreneur”. The term mixes the words entrepreneur and application software. An appreneur is specifically an entrepreneur who works in the mobile device application industry, leveraging from the emerging micropayment economy (a market characterised by financial transactions involving a very small sum of money and usually one that occurs online) (Wikipedia).
However, nowadays, the feeling is that there is an app for everything and the competition is tough so:
Shall you enter the app market?
Even if there are many competitors, the mobile app market is constantly growing and worth billions. It is forecast that its value will grow up to 188.9 billion US dollars in 2020.
Plus, the market is so vast that many niches are still uncovered. Our advice is: if you think you have a winning idea, then yes, you should enter the game.
Once you decided to do it, there are some suggestions that you may want to consider:
Know Your Target Customer
This is a mandatory rule for every business. Your customers need to be the centre of your strategy. What are they missing? Where will your product/service place in their mind? How are you going to deliver it?
These are just a few examples of questions you have to ask yourself when you’re planning your app.
Whether you are developing your app by yourself or you are relying on third parties, simplicity is a must. Most apps are focused on performing extremely well one single task in the most efficient way. Even a click more can define a winning app from a losing one.
Think Fast, Act Fast
No environment moves fast as the World Wide Web. It forces all its actors to adapt rapidly to its transformations. So, be prepared to adjust your strategy and your app as the market’s dynamics change.
Determine a Monetization strategy
There is no trickier business model than the mobile app one. Despite being a commodity, users hate paying for these products. This situation creates the difficult challenge for appreneurs to deliver a great product at a low or no price. So how can you still make a profit out of it?
There many monetization strategies. The most common are download fees, in-app ads and freemium models.
Hire a professional to develop the app
When you are going to launch your own startup, it is very likely that you will have many tasks to cover in your to-do list. You will have to draw up a business plan, worry about funding etc. Our suggestion is, if you’re not familiar with developing an app, hire a professional to do it. This will spare you precious time and you can concentrate on starting your career as an appreneur.
Do you want to create an app and don’t know where to start it? Book a consultation with us; we can help you build it and realise your business vision.