Reimagine Financial Services with Chatbots
A huge amount of money, resources and time are spent […]
It is not enough to just have a cool app idea. If you really want to be a successful entrepreneur, you need to do a thorough research, to understand the worth of your app. We all have ideas, and id the idea s is not executed, that’s worth nothing. We sometimes have some very good ideas and bad ones. There are many easy ways to test them. Actually it is very easy.
1.Does it really solve your problem?
Start by removing your appreneur’s shoes and wear customers’ shoes. Yes, put yourself in the place of the customer and ask yourself some questions and the answers will test your app idea.
Many of us have answers for others problem, but find it hard when it comes to our own self. So if the idea you have really solves your own problem, then we can be rest assured, that the idea has something in it to make it big. All big business solve some or the other problem and make our life easier. Google made searching easier, Uber make booking cabs easier what-app made messaging easier. So check how your idea/app solves your problem, and the answer should give you decent answer to your question.
2.Float a landing page
Landing page is a single page that showcases your app. It shows the main benefit of the app, the key selling points, the problem it solves and how it solves it. There are many options available online to setup a landing page.
The page you build should be like, that the app is already built and with a main big call-to-action button , i.e. download now. The objective is to give customers the same feeling that we would like to give to the customer in the app store / itunes page. Run a small advt. campaign, to find out how many would actually buy the app. Check your expenses and the money collected . If break even here, the app is really is going to be big. If you build the Landing page with custom code or a template, you would need service like Google Analytics to track the number of clicks on your “Download” button.
3.Research about the app
Do a little research about the app. Search on goggle and on app store. Find if people are actually searching for your app. The easiest way is to use the Google Keyword tool; you can discover the number of searches your idea generates. Check for competitors; find how their apps are performing. Check their rankings. AppAnnie is a great service to look at charts different app stores. What you have to do is, to find if a similar is there in one those top charts. It needs not to be a same kind of app but a different app. Find how is your app different from others. By this time you should have realized the worth of your idea. Another important check you should do is the monetization strategy used by their competitors.
4.Talk to your customer
With the data you have from the landing page, creative a mailing list. Talk to your customer about your product. Check how your prospective customers currently solve the problem and find how many have same problem. The most important check is to find how many would actually spend money on this app. Talk to your family and friends, they may not be your target audience, but it can perfect your pitch. When you are convinced about the app, start to build a prototype.
5.Get genuine feedback on your MVP
Until you make money, all you have is an idea. So don’t stop yet. To make money, you should satisfy the buyer. And to satisfy a buyer, your app should have all the characteristics the buyer likes. So getting valuable feedback is always very important. Introduce your app idea to tech bloggers, tech magazines and get some feedback about your idea. It takes time for your idea to mature into a perfect app. So create a Minimum Viable Product and get feedback. Be open to criticism If you feel like your idea is very fragile for criticism, than your idea might not be strong enough. Actually heeding ears to criticisms will improve the thought and eventually a better app. And aspiring to be an entrepreneur, you need to develop a thick skin for criticisms and your idea should be robust enough to handle all these. Seasoned entrepreneurs know that perfection is not a destination but a journey, so add on features and weed out problems on the way.
Even though mobile space is heavily crowded, I personally believe it’s not yet saturated. There is still plenty of room for new comers. However, before you spend your time, money, and energy on building an app, make sure you do the due diligence to validate your idea beforehand. Although we discussed about 5 ways of testing your idea, don’t restrict yourself to these. Be creative to validate your idea. Talk to many people. Do everything you can to give yourself the best chance of succeeding.