Android and iOS apps are where the money circles nowadays. Being a developer, you can code a new killer application and knock up a fortune in a fortnight. Being an investor and IT business person, you can flow the money into upcoming projects and see these funds pay off two- or even threefold. Nevertheless, as a mobile application entrepreneur, you must’ve already learned that app development costs might be substantial. That’s why consistent, thoughtful planning is of paramount importance if you really want to hit the jackpot with your mobile endeavors. Here’re 5 most essential tips to help you draw up a hands down foolproof business plan, which would work fine for small and medium-to-large companies.
1. Study the market
The last thing you want to do is launch an app on the market that has plenty of products alike. Your application might be stylish, fast, well-built and potentially helpful, but the target audience might simply not want it. Few thousand downloads will occur eventually, but in the long run an app which the market has zero need for soon gets forgotten and deleted from devices altogether. That’s why studying the market is the first and foremost thing an app entrepreneur should do. If you already have a product website, Google Analytics will help you get started with the basics. With a clientele base at hand, you might poll the customers/users regarding whether they even need an app to use with your product and what kind of functionality it should feature. Gathering feedback from existing clients builds a solid foundation for moving the needle on for your app.
2. Specify the purpose of your app
Like great rivers origin in tiny mountain flocks, great apps take roots in the very basics. What kind of app is it going to be? Would you like to launch game, business apps or a music streaming service? Decide what kind of application will serve your product and brand name most, then start acting accordingly by looking for the right tools, the right team and, if necessary, for the right investors. Take a look at what competitors bring into the market too; it might be of tremendous success to set forth something different and thus competition-changing.
3. Aim for MVP
MVP (minimum viable product) is a technique used for creating lean startups. Adopting this approach is absolutely key, as long as you seek to launch an app with maximum gains and minimal financial investment required. MVP is an already well-researched and documented business approach, so it won’t take too long for you to master its ins and outs, then implement to the needs of your own case.
4. Do brainstorming the right way
So, you already have a team to start on a new app. But before developers could do their magic, managers have to come up with a consistent app development roadmap. What starts as brainstorming eventually ends up in a fine business plan. Use charts, diagrams, as well as mind-mapping software, which is a relatively new trend in representing information you’ve just brainstormed with a team. A mind map normally looks a well-organized and coherent representation of data, step-by-step action items and other essential information. Check it out for yourself.
5. Adopt a flexible mindset
“It’s not a bug. It’s a feature.” Anyone who has ever developed something for the Internet knows things never go as planned. Any business plan, no matter how polished, needs amendments from time to time. What is more, somewhere in the middle of development stage an app originally designed as a plain mobile version of a website might grow into a stand-alone product with unique features and composition. At some point, you might be forced to improvise and make changes to the business plan on the go. Still, all new things have to fit in your MVP approach, as otherwise such incentives will stand cost-ineffective. Additionally, while creating an app, take into account that the market might change drastically within 24 hours. What was of great need yesterday might be of zero use tomorrow. Today you have to know how to meet the whims of the mobile market.
At the end of the day, no matter how good your app ideas are, without a sound business plan, setting forth consistent mobile software is next-to-impossible. Even individual developers doing apps for fun and hoping to generate tiniest of income at best still draw up at least something that looks like a plan. There too many crossroads on the way from ideas to production, so that a roadmap is very much needed. Do you plan to launch an app too? Then use these tips and stay headed for success!