Many people ask us if it’s worth it to launch their app idea. They ponder over the pros and cons and are overwhelmed by the enormity of the task. They get excited at hearing about the success of apps like SnapChat, Uber, FB, but once they realize the complexity of getting to that scale they worry even more. They ask around for help and to determine the costs of getting the app done, and usually are baffled by the pricing and timelines. Another option for them is finding a good co-founder that can code and be 100% involved with them. The equity distribution, and finding the right guy, with the vision and commitment, is usually not easy and even if they find someone good, retaining them, keeping them motivated, or even working together for a longer duration, is a difficult task.
So, what happens then? With time, the motivation, energy, and focus dwindle and people end up giving up on their idea. Have you been through this cycle? If so, you would want to read this.
There is a way out. Let me guide you how to convert your dream idea into reality. The solution is called MVP (Minimum Viable Product). What is MVP? MVP stands for building the basic version of the app, targeting just the core functionality of the idea, and eliminating all the bling-bling for the later — once your app has gained any traction.
There are five major benefits that building app this way (MVP) gives. Also remember, the entrepreneurs who build ventures like DropBox, Uber, Twitter, have enjoyed these benefits.
First benefit: Get to see your app in action.
It’s easy to plan all the app features in your head and playing around with its functionality. But a basic working version of the app will give you the benefit of getting the feel and working on the functionality. You can visualize the working of the basic core functionality. A working model will give you the confidence to start working on the user acquisition and getting the real feedback. Let’s talk about this a bit more.
Second Benefit: Feedback!
It’s massive. Feedback is crucial to any product success. Sharing it with your friend and family will give you the initial free and honest feedback that could do wonders in the planning for the actual market launch or building more features. This is the point where things get real. You will start seeing if people, other than you, care about it like the way you do. If not, you can go back to the drawing room and start working on the better version. This step is massive and crucial. People waste tons of money being in stealth mode and not getting the feedback.
Third Benefit: Proof of concept!
Depending on you cash situation you might be looking to raise capital at the beginning and you start looking for seed funders. Even if your idea is good and can change the world, still investors would want to look at the working version of the app. Remember, what investors seek is proof of concept. Once they see things in working with some user feedback they might get interested in becoming the part of the growth.
Assume for a moment that you are an investor and someone comes up with a brilliant idea all chalked out on paper. At the same time, another person shows up with a similar idea BUT with a working version of his product. To whom do you give the money?
Remember: Revenues are better than Free Users, which is better than a working a Working App, which is better than an idea in the head. Better to get the first step done and be ready for next big ones to come.
Fourth Benefit: Chance at organic growth and winning big.
Organic growth is massive. If you end up finding an idea and a product that gets some traction even without spending much on marketing, then you may have a home winner. If the initial customer reviews are good and people are willing to share your app with their social connections then you are onto something big. But all that can only be determined once you have the basic idea out.
Fifth Benefit: Saves money!
Risk and reward are correlated. But as an entrepreneur, you would need to limit your risk in the first few steps you take. Money helps. Betting it all at once might not be that smart. With MVP, you get to save a good chunk of it while verifying your idea.
Everyone knows that action precedes glory. Perfectionists lose. Winners, on the other hand, just keep on showing up and taking the next step. If you have an app idea and are still pondering over finding the right team or perfecting it till the end, then you might be wasting your valuable time that can be used to taking the next step.
REMEMBER: Rome was not built in a day. It started off with a basic working version of a city, an MVP :).
I keep on reiterating and will do it more in other posts to come. Start simple, work on building basic core functionality, get the basic version out and then plan for the next ones!
Want to convert your idea into reality? Talk to me, app2dev.com