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About the Episode
Are you like me and you’re tired of building small $2 apps and want to build the next billion app idea? Well today’s guest is the author of Billion Dollar Apps and he walks us through the 6-step process for coming up and executing on these big ideas. Also, listen to the part of the show where he explains why it’s so important to develop your app strategy with a problem centric view.
The Process in Coming Up with Billion-Dollar Apps
Alex shares to us the main steps in the process of finding and implementing a winning mobile strategy and it is primarily divided into two areas: identifying the problem and figuring out which ones to do first.
In the problem-identification phase, you should understand what your strategies are and what you are trying to accomplish in the organization. If you don’t have measurable goals, you will never be successful in trying to drive something.The next step is to determine the processes that actually support sales and then ask where and what are the problems you are trying to address. If you could solve these problems, they would drive the results we are looking for.
In moving to the second area of determining which apps to do, brainstorm what the app would look like which would make it sell more. To do this, come up with a great list with what those app concepts are and look at the ROA (return on app) to quantify how much revenue this app is going to return on us or the cost savings it will give you.
Developing an App with a Problem-centric View
Before you go and develop your app strategies, the key question you should ask yourself is: what is the problem thatyou are trying to solve? Developers focus on what’s cool and what’s shiny but if it’s not solving a real problem, it’s not worth anything to the rest of the world to give you money for it. Whether if it’s in the enterprise or personal level, until you can put the problem down and articulate very clearly what solving it is worth to somebody, it’s really not worth doing. You have to be able to put a perceived value to that amount because if you are going to make the investment, invest in doing something worthwhile.
Find out the meaty problems as this is where most developers are hung up on.
What advice would you give to anyone looking to build a mobile app?
The key comes down to solving real problems. There’s lot of money to be made if you focus on that world.