The app market is a daunting and overwhelming place, much like your aunt’s house on the holidays. But that’s never stopped you from going. You know that stuffing your face with homemade pie is worth having an awkward conversation with your great-grandmother’s third husband. In other words: the pros outweigh the cons.
Don’t let these common misconceptions stop you from digging into the app market and getting your share. Before you know it, you’ll be passed out on the couch with both stomach and pockets full.
1. “I don’t have the money.”
One of the greatest things about the app business is the minimal startup capital it requires. We’ve all heard the saying, “You have to spend money to make money,” but to develop a basic app, the initial investment could be anywhere from $500 to $5,000. Unlike most careers, you don’t need a degree or a license. And unlike most business opportunities, you don’t need to lease a commercial space, hire a staff, or invest in expensive office equipment. In the app business, the barrier to entry is ridiculously low.
Personally, I first began developing with a crazy amount of debt and needed to borrow money from my stepfather for my “Hail Mary” shot. I didn’t have any employees and outsourced all the work. Even if you mess up, the loss is relatively small. If you keep going and learn from your mistakes, you’ll have an opportunity to make a lot of money.
2. “I work full-time. I don’t have time to try this out.”
This business is about getting your time and life back. Even if you’re making $100,000 a year at your full-time job, is it worth it if you never see your kids or spouse—or don’t have time to do the things that make you happy?
If you’re not ready to take a leap, try taking a step: You can start by maintaining your present lifestyle while you run your app business part-time. Start small and as you learn more and gain confidence, you can take bigger steps.
When you quit that full-time job because you doubled your income, you’ll have more time than you’ll know what to do with. That’s what this business can give you: time and freedom to do what you want, when you want, and with whom you want.
3. “I’m not a tech person. I have no experience in this market.”
I can barely program my TV remote, let alone a mobile application. Seriously, I don’t know how to program anything and I don’t want to. You can get into the app business regardless of your computer skills. If you can draw an app idea and convey the concept to programmers, they can do the work for you.
Two of my appreneur friends had software engineering degrees when they started creating apps. They soon realized that to be successful entrepreneurs, it made a lot more sense to outsource their projects to other programmers.
Anyone can thrive in this business, even if you don’t understand the tech side of it. Like anything in life, you have to start somewhere. This is one of the easiest businesses to get into because the market is always telling you what to do. All you have to do is listen. Successful app development is simply about looking at the market, understanding it, and giving users what you think they want. Pay attention! If you don’t come up with an entirely new idea, try improving on an existing one. Remember, you may not hit a home run your first time at bat, but you must keep getting up to swing.
4. “The app market has too much competition. I don’t stand a chance.”
What makes the app marketplace so unique is that the big players are on the same playing field that everyone else is on. They have the same questions and challenges that you and I have. This industry is still in its infancy, which means you have the opportunity to grow with it. Just don’t let the App Gold Rush make you complacent. This is not a one-time app lottery, and it can’t be treated as such. We all want instant gratification, but if you think of this as a long-term business, it will grow and be a sustainable source of income.
Now that your doubts are put to ease, it’s Business Time.
And don’t forget to check out my “Seven Pillars of the App Business” for a simple guide to get started building your own App Empire.