Deciding to build an app business is exciting and terrifying all at once. Whether it’s your first time venturing into entrepreneurship or you’re an experienced business creator, it’s never easy taking that jump and diving all in to develop an idea. First, you have to be 100 % sure that you know the entire process of how to go from app idea to launching a successful startup.
Because you know it’s not going to be easy.
You know it’s going to take your time. You know it’s going to take your money. You know it’s going to require your sacrifice. You know it’s going to be taxing.
But you also know it’s going to be exhilarating, will generate an immense sense of pride, and will (hopefully) bring some money to boot.
Can launching your own app be worth it?
Will it be worth it?
Well… that depends.
You will always learn, whether from successes or failures, but it’s never a sure bet that your idea will become a success.
What if there was a formula you could follow that will help you go from app idea to launching a successful startup?
To build a prototype that investors will love? No problem.
To create an app that is addictive, viral, and monetizable? Yuppp!
To construct an app business that is sustainable and built for growth? Absolutely.
Despite what you may think, there are play-by-play guides and formulas you can implement to reach these goals.
Repeatable and scalable formulas. They aren’t complicated, but they are hard to find.
At Appy Ventures, we’ve taken over 60 apps from just an idea all the way to market, with almost all of them making a profit and some of them being valued in the millions of dollars.
We’ve distilled and refined this process for almost a decade, and we’ve taken the most effective strategies and worst mistakes entrepreneurs make and adopted them into a proven process for app business success.
For example, we worked with a company now known as Smart Plant
They were at a similar stage to you two years ago, and during the interim, they’ve won multiple app awards, merged with a Californian company, and are now valued at over £3.0m. Expanding into mobile was a perfect addition to their mission of empowering home gardeners, and they turned to us to help them realize their idea.
This lifestyle brand brought smart gardening into the digital era with its PlantSnapp mobile app idea.
The best part?
It was done by following the exact stages we’re about to outline for you.
Let’s jump in.
How to evaluate if your app idea can be a success?
The first step you need to take is to make sure the idea you have is even worth pursuing.
It seems obvious, but some entrepreneurs get so attached to an idea they fail to make the iterations possible to build a viable app business.
If you’re going to be giving up financial security, a serious number of hours, and sacrificing time with your family and/or friends, your idea better be sound, yeah?
Here are a few questions to ask yourself:
- Does it solve a problem?
- Will people pay for it?
- What is your price point?
- Is there a sizeable niche market for it?
- Are you passionate enough about it?
- Have you tested your idea?
- Are you open to idea feedback?
- How will you market it?
- What separates your app from others like it?
Take this process slowly. Really spend time answering these questions to the best of your abilities.
After that, you’ll want to tackle a more thorough exercise.
Introducing the Lean Canvas (a 1-page business plan template):
By outlining the problems your business will be solving and how, identifying customer demographics, costs, and more, this worksheet will lay the groundwork for your entire app business, from ideation to pitching to investors.
This worksheet makes you think deeply and really focus on one, the value you’ll be bringing to your customers, and two, how you’re going to get it to them.
Do not rush this!
Everything you build is based on these concepts, and you want to make sure you think this through.
Be flexible, too!
You may think of new customer segments that would require different angles or features. Write these down and narrow or expand your idea as needed to fit the market best.
If you are looking for inspiring insights, check out this blog post: Best SaaS product ideas in 2020 with real examples.