Rebuilding after you’ve lost everything sucks.
When I built my first app, I did it from a hospital bed with $100K in medical bills hanging over my head. Definitely not the best time to start a business, right? I even had to borrow $1,800 from my step-dad to build my app, which was embarrassing.
But then … in the app’s first month, I made back $12,000. Whoa!
That’s a life changing amount of money to most people. It certainly was to me at the time. Imagine getting $12K in the bank tomorrow. You could probably pay your rent for the next year.
If you want to build your first app, here are 2 things you gotta know when it comes to money:
- No, you can’t build an app for free, so squash that hope now.
- Good news! All that said, you don’t need a lot of money to start.
Have you seen some of the estimates floating around the web? I’ve seen websites saying even small shops are spending $50K to $100K on a single app. Yikes! In my opinion, that’s ridiculous.
Here’s the truth, both from my own experience and almost a decade watching my students make money from apps:
You can realistically get your first app designed, built, and launched on the App Store for as little as $500 to $5,000. Then, when you launch your app, you can expect to see money hit your bank account within two months. Then you can reinvest that money back into your business.
Did you read what I just wrote?
Go back and reread it again, because this is key to making money with apps!
Read that last paragraph three times if you have to!
See, when I made that $12K on my first app, I immediately reinvested it in my business. Within six weeks, I had six other apps in development. And I can tell you, I made a LOT more than $12K with my second round of apps!
You have to look at your dollars like little foot soldiers working for you even when you’re not in the room.
A single dollar doesn’t have that much power. But if put that dollar to work creating MORE dollars, you have real leverage. That’s how you build an App Business versus a hobby that does little for you (or your bank account). It’s your ticket to large, consistent income. When I used this technique, my first app ALONE went on to do over $600,000 before I sold it.
And make no mistake, consistency is what you’re aiming for. A couple thousand bucks is nice every now and then, but your end goal is FREEDOM.
- Freedom to quit your job and never have a boss again.
- Freedom from worrying about the bills.
- Freedom of choices. You can now do whatever you want, without money being a consideration.
For that to happen, you need to reasonably expect money will be in your bank account any time you need it. No worrying about paydays or whether you’ve broke even this month.
Here’s another ugly but vital truth …
You can’t work harder.
You just can’t. It’s impossible.
I mean, there are only 24 hours in a day. You can only work so hard before you literally have no more time to work! Even if you’re the hardest working person you know and LOVE to work (I don’t), there’s a point where your time caps out.
So let those dollars do the grunt work for you instead!
If I’d given up after one app, would I have still made a profit? Sure, probably. And maybe that first app would have made decent money. I’d have had an easier time paying rent for sure.
But I NEVER would have made the profits I did.
I never would have been able to pay off my hospital bills or quit my real estate business (where I was working 70 hours a week). I never would have been able to travel the world, or had the time to build other businesses and work with cool people like Tony Robbins.
This compound effect of reinvesting this money into your business means you can expect money to be there whenever you need it, without the pain of extra work. If that’s not freedom, what is?
If you want to know the EXACT method I used to make money on my first app, check out “10-Day Action Plan.” It shows you step by step how to:
- Guarantee you always pick the best app ideas [page 12]
- Build a winning app (even if you have NO coding or design experience) [page 17]
- Hire the best developers (at the best price) [page 25]
- Make sure your app looks like a million bucks (without getting ripped off) [page 30]
- Turn your app biz into a moneymaking machine [page 35]