4 Secrets Behind Turning a Great Idea into a Big Business

February 27, 2015 | Rob LaPointe

4 Secrets Behind Turning a Great Idea into a Big Business

4 Secrets Behind Turning a Great Idea into a Big Business
4 Secrets Behind Turning a Great Idea into a Big Business

It’s the question all entrepreneurs ask themselves, “how do I turn my idea into a business?” Looking around at startups today, there is clearly a window of opportunity for building a business thanks to the growth of app development, especially with the wealth of resources available to entrepreneurs in these areas. Startups and Entrepreneurs are looking for reliable and affordable app development software to build a smart solution for their business idea. Here are some secrets on how to turn your app idea into a big business.

1. The Business Plan

What’s the product? Who is your primary niche market? How will it be monetized? What ongoing roles will need to be filled for the business to operate? This is the core potential of your business. As with most plans in life, half of it will go out the window as soon as reality intercedes, but the point of building the business plan is to answer the question, “can I make this work?

With a good app idea that has a potential market, there is rarely a situation where the answer is no.

Much of your success potential lies in how well you can come up with feasible business opportunities for your idea. There are many apps, games, websites, and more out there in the world that have lots of potentials, but no profitability because the creators didn’t take the time to plan out their future. If you want to have a shot at success with your latest project, you need a plan that will get you there.

2. The Product

Phase one for your new business will be to build a minimum viable product. A lot of startups these days get caught up in their own hype and want to cram every conceivable capability into their shiny app before they launch. This is especially noticeable in app development, where people tend to see the many features offered by major apps and try to replicate that feature density. Don’t fall prey to this trend, it will hurt you—on several different levels.

For one thing, you can never grow until you launch. Once the product is usable, get it into people’s hands. Marketing and user acquisition takes time to get rolling, so don’t delay. You are hurting your growth potential by holding it back waiting for more features.

For another, just remember that you’ll be able to upgrade your product later. With apps and websites, it’s as easy as rolling out an update. App development makes distribution and updates easy, so get the product on the market ASAP.

And last, don’t underestimate the importance of simplicity. Packing in too many features can make it hard to learn the product and use it efficiently. It’s better to offer a great experience focused on one central thing than to offer an average experience across many different things.

3. Marketing

No business can succeed without marketing, but many businesses don’t know how to go about spreading awareness of their new product. To begin with, you need to find your niche. You aren’t going to appeal to the whole world with a product they’ve never heard of. The mass-market appeal comes later once you’ve earned brand recognition. For now, you need to demonstrate value to a key group of customers. Your message should be pretty specific to the niche you are targeting.

Next, you need to find ways to deliver that message. There are a lot of—blogs, articles, reviews, social media posts, videos, events, billboards, banner ads, video ads, in-app ads, promotional partnerships, contests, free trials…Use them. Don’t put all your eggs in one basket hoping to “go viral.” Don’t just rely on word of mouth to spread your name. Growth doesn’t happen by accident.

4. Grow your Team

Building a business means building a team that works together toward an ultimate goal. That means hiring the right people, making the right partnerships, and forging a culture that attracts talent. Many entrepreneurs are so used to doing everything themselves that when they start to see success, they have a hard time delegating tasks and trusting in their team to perform.

It won’t be long before the business is too complex for you to handle alone, and the sooner you share your responsibilities, the sooner you open the floodgates for growth.

One big secret to success is knowing when to hand over the reins and focus your energy elsewhere.

Grow with @SoftwaredevIn

Software Developers India is a Silicon Valley-based app development and marketing company. We work with entrepreneurs here in the Valley and around the world and are happy to answer any questions you have about building a business through an app.

Give us a call at 408.805.0495, or email team@sdi.la to learn more about our app design, development and marketing services. If you’re looking for iPhone app development company pricing, we can offer not just a quote, but also a free evaluation of technical feasibility, business, and marketing potential. In the meantime, take a peek through our portfolio for some examples of our work.

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