5 CHALLENGES OF A STARTUP APPRENEUR
A Startup Appreneur can face a lot of challenges while they are on the verge of establishing their Startups and developing their Mobile Apps. If you are willing to develop your business application, it will happen with proper planning, research, and sufficient budget. To build a fully functional application, start to manage your strategies and build your marketing skills. We will provide the details of challenges that you can face so that you can be alert to the consequences. It will be better to carefully step into every step and avoid any complications to arise. Read the full article for getting the best idea.
Developing the Prototype
A prototype is an interactive simulator of your future Startup Mobile App. It will help you to develop a better showcase for your plans. Prototype development is a challenge. It should demonstrate the core functionality of your business that the application offers. With a convincing and working prototype, you can have fluid negotiations with the investors. It will be much easier to convince them by making them see it than simply explaining with some concrete facts and figures. They will invest in your project only when your prototype is appealing. Therefore, you have to scale a wise strategy and invest in a high-quality prototype before actually creating a Mobile App.
You have to show your investors that what they are investing in is worth supporting. Only then, they will back your project and will to put their resources in your Startup.
Attracting the Investors
If you are set to develop your Startup Mobile App, you need advanced technologies like augmented reality. These may cost you depending upon what your Application requires. On an average, it has been seen that the cost of developing a mobile app starts at $40,000, which may also vary. But, the actual functionality and scope lie in the cost that you can afford. Therefore, you need investors for that. Investors will invest in your project and you can utilize it for developing your App.
Attracting more investors will help you to manage your budget fluidly. And, if your target is set and so is your budget, then with rest budget you can effectively manage your development and marketing costs better. It is usually seen that new Mobile App Startups turn to investors to gain their support when they only start the App business. However, you have a lot of options like Crowdfunding, Angel investors, Venture capitalists, etc to choose depending on what your budget requirement is.
Now the next challenge for you will be monetizing your App. There are several monetizing tools like displaying ads over your app. You will receive revenue on the clicks. If someone opens the ads you display, you will earn. It is the easiest and most common method of monetizing your application business. However, the only drawback is that most of the users find it to be annoying.
Make your app free to download. However, provide certain special features available at a good price. People who will make the in-app purchases will actually help you earn. This is the strategy if your Startup is based on Games, Plagiarism tools, etc. There are devoted gamers willing to pay for the cost to access the features and play. Even, the devoted writers will be willing to buy special kits like plagiarism and SEO tools to help them develop their content. Depending on the above points, you will provide them with two options. One is Free and another one is Premium.
If you have released your prototype before releasing the full version of the actual app, then consider that your marketing has already started from that point in time. If users find your app useful or interesting, they will surely wait for the full version to come. There, marketing plays a pivotal role. Your marketing will influence users to download the app, and it will give you proper feedback if you are going in the right direction or not. Try to market your app in such a way that users can feel the benefits. Give them a proper clarification of the usefulness of your Startup Mobile App.
Users will be more engaged if there is feedback and help system in your app. Try to market the same as well. Some of the other marketing strategies include being active on social media. You have to make your company page on social media platforms like Facebook, Twitter, etc so that more and more customers can be in touch with you. Start your questions and answers channel with Twitter. They will start recognizing you faster and that will give a kick to your growth.
You can start your campaigns to promote your product and give people offers like free trials for a month. In the beginning, try to cut your profit short. Once you have grown, you can gradually focus on enhancing your profit scales. What is vital for you is the user base. You have to multiply the user base first rapidly. And for that, you have to focus more on your user-experience than your profit. That way, they will recommend you to their family and friends.
Application Updates and Support
Once your App kicks off in the market, your challenges increase. Your focus diverts to the maintenance of the app. The maintenance includes updates and support. Regular updates and patches are needed for maintenance and development of the app. It is wiser to sign a professional development team for a long term contract, who can work to maintain your Mobile App.
There are several challenges to face as an Entrepreneur. What matters the most is a wise step. Do a lot of research and implement it into your Startup. We hope that you will keep the above points in mind before you take your absolute move. There are certain obstacles, and you have to come out of them with your strategies. We hope your application to be bang-on.
5 CHALLENGES OF A STARTUP APPRENEUR