Wednesday, July 18, 2012

Things to check before you build your dream consumer app.

In50Hrs in Chennai is starting tomorrow.  In their own words

"In50hrs is The Idea-To-Prototype Event. Entrepreneurs, Developers, and Product Designers come together to work on audacious ideas and build working prototypes over a Weekend."

I am guessing that a lot of the prototypes that will get built over this weekend will be consumer mobile apps.  So here are a few questions that our budding entrepreneurs need to answer to themselves before they choose which app to build!

1.  Is there such an app already in the market?
What is available in the market? how popular is it? How different is my idea?

2.  Who is my app for?
If your answer is everyone, try and be more specific.  Is this for the tweens, teenagers, twenties, thirties, or older?  Is it for men or women or both?  Employed, unemployed, students,...?

3.  What is your criteria for success?
Is it the number of downloads, the number of users, usage (no. of logons, no. of requests, number of purchases, etc)?

4.  How will your potential users get to know about your app?
There are thousands of apps in the market place.  Do you expect people to discover your app on their own?  Do you have a unique way of reaching out to them?

5.  How are you going to monetize?
Is your app going to be free or is it a paid app?  Are you going to earn through subscription, from ads, or through in-app purchases?

If you have real good convincing answers to the above questions, you are definitely on the right track.

Go for it!

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