How to Plan Your App Based Startup
Over the past 10 years, we find that a clear shift from desktops to smartphones has taken place in technology. When you are planning for an app based startup then remember that you need to reach your customers and hence plan accordingly.
However, to attain growth, startup founders cannot afford to do any guesswork or even hope for the best and start off. Whatever the cause of the startup you need a full proof plan before you take off. The different steps for your app startup plan are:
A purpose statement is to define the purpose of the app for which you are floating your startup. This statement should include the functioning and problem-solving chore of the app. The purpose statement will also aid you in clearly understanding the need of your startup and you will work towards its achievement.
Comprehend The Problem
Right at the beginning itself, you will have to understand the problem for which you are going to develop an app. Try to find out the problems which customers are facing at present. Understanding the hitch from a consumer’s viewpoint will help you to solve it in a better way.
The Objective of Your Startup
The objective of your app based startup is the most important point that will bring in the investors and co-founders interest in your product. You must first be clear about the objective of your startup to move further.
Next, you have to study the market. The market study will help you to comprehend the metrics of your targeted audience. These metrics comprise the dimension of the market, market projections, as well as competitors.
Solution to The Problem
Once you get to know the problem that your consumers are facing then it will be easier for you to find a solution for it. Remember that solutions are available in the local market. But you must provide them with such a solution that they get their problem solved in a single click. This is the most excellent mode in which you can acquire, retain as well as make new customers for your app based startup.
Define Your App Strategy
Do not ever rush in the implementation of your app. It will lead only to disaster and an underperforming product. You need to pay Attention to every detail and it will always pay off. You have to take into consideration every single detail in all the categories of your app startup.
Revenue is that part of your startup which will bring in the interest of investors and founders to your product. You give yourself a win-win situation when you provide details of revenue in the business plan.
Since you will be inviting your investors and founders to invest in your startup then it is a must that you have to define the cost that will be incurred in developing, marketing as well as sustaining the app for some time. They would want to know the fixed approximated cost and the variable/contingent cost involved.