By Steve Eakin
Almost daily, someone tells me about his or her amazing app idea. It will blow up into something huge, gain millions of users and make millions of dollars. All with word-of-mouth marketing.
That enthusiasm makes sense, really. Apps are massive right now and show no signs of slowing down. Developers make billions of dollars in the app store every year, so people naturally chase any idea that could get them a piece of the new gold rush. The "big app" idea is the easy part: Get all excited, and then sit back like you've got money in the bank earning interest.
If only things were that simple.
The reality is a bit more harsh. If you really want an app of your own, you have to put in the work. Before you start your journey, here are some industry secrets you need to know.
1. There's no such thing as an overnight success.
I’m sure you can find an example of something that literally became the biggest thing ever in one day. Know that it's the exception, not the rule. These so-called "overnight successes" usually take a bit of time to start. Running a business as big as Facebook or Snapchat doesn’t just happen when you click “launch” on your app. It took Periscope over a year, and that’s still pretty fast.
Your tech has to be solid and able to withstand millions of users all day, every day. Your legal has to be in place. Customer support has to be prepared. And don’t forget our friend, cash on hand. You'll likely need fluid assets in the bank to keep it all running smoothly.
In reality, growing over time gives you a chance to spot and fix problems in your tech, process and everything else -- before too many eyes are watching. Trust me, it's easier this way. Plus, you'll stand a much better chance at keeping your success when you get it.
Your tech has to be solid and able to withstand millions of users all day, every day. Your legal has to be in place. Customer support has to be prepared. And don’t forget our friend, cash on hand. You'll likely need fluid assets in the bank to keep it all running smoothly.
In reality, growing over time gives you a chance to spot and fix problems in your tech, process and everything else -- before too many eyes are watching. Trust me, it's easier this way. Plus, you'll stand a much better chance at keeping your success when you get it.
2. Most empires contain multiple apps.
The reasoning is simple: If you can make an app that earns $10,000, $50,000 or $100,000 a year but takes minimal time to run and maintain, you have what is called a lifestyle business.
You might remember the golden goose Tim Ferris introduced to the masses. He called it The 4-Hour Work Week. Once you succeed with a lifestyle app business, you realize you probably can do it again and again with other ideas. This is precisely how everyday people make it big with apps: a small company of one to four people doing things their own way, working from the beach while making $100,000 a year with six different apps.
Those who want to go for the billion-dollar apps and live on the front pages can still do that. Even Google and Facebook have a ton of apps to their names, all funneling revenue to the mother ship.
You might remember the golden goose Tim Ferris introduced to the masses. He called it The 4-Hour Work Week. Once you succeed with a lifestyle app business, you realize you probably can do it again and again with other ideas. This is precisely how everyday people make it big with apps: a small company of one to four people doing things their own way, working from the beach while making $100,000 a year with six different apps.
Those who want to go for the billion-dollar apps and live on the front pages can still do that. Even Google and Facebook have a ton of apps to their names, all funneling revenue to the mother ship.
3. You need more than word-of-mouth.
Word-of-mouth is a tremendous way to get downloads. It’s also unpredictable and mostly uncontrollable. It can’t be your only marketing weapon.
How else will you get the word out about your app? Content marketing? Partnerships with others in the same space? Ads? I wish everyone could make it big with referrals alone, but that isn’t the reality. You need a backup plan.
How else will you get the word out about your app? Content marketing? Partnerships with others in the same space? Ads? I wish everyone could make it big with referrals alone, but that isn’t the reality. You need a backup plan.
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