Is web/mobile apps a way?

[morbius13]

Hello everyone. I haven't introduced myself yet, so my name is Michael, I'm 16 and i always had big dreams, so near a year ago i started educating myself about entrepreneurship and business. I tried some ecommerce and freelance stuff more as a side hustle than real business, but none of these things worked for me anyway. Recently i finished reading The Millionaire Fastlane and it changed my point of view a bit. I started thinking about something bigger that could set me up for life. I got a great idea for an money/business managing app. I started working on it and now I spend almost all my free time on it. It will take at least a year to fully develop it and that's my problem. I have doubts all the time and i'm afraid that when i finally launch it, it won't stand out of the crowd and get clients due to very low advertising budget and i will lose over a year of time. Is it a good idea? Maybe i could run some affiliate program to market it with no starting cost.

 

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[Skroob]

Hi Michael. Welcome to the forum!

You can absolutely live a Fastlane life by selling mobile apps. However, from experience, I would not go into the tank for a year to develop this app. Things change too fast. Tech, competitors, market, motivation levels... a year is a long time in this business.

What I'd do, is write down everything your app is gonna do. All the features. Then, number them 1 through whatever, by how absolutely vital they are to the core concept behind your app.

Then build and ship number 1. Just number 1. Make it as good as you can, but get it done and get it out. Start getting customers. Sell it for a discount price, but get people using it. Be upfront that it's a barebones version, that you're working on it and sell the vision of what the app will be soon, and make your early adopters feel special for getting in on the ground floor of this incredible life changing app.

Then work on number 2 and ship that. And so on and so on.

 

[constant-in]

Hello Michael,
I came across your question and that actually made me sign up here. My name is Constantin and I am a former Software Development Manager, Product Manager and now a Founder myself.

It's great that you're pursuing entrepreneurship at a young age, but before investing significant time in developing your app, it's essential to focus on some sort of product validation.
This process helps determine if your app meets target customers' needs and expectations, identifies potential issues, and ensures that you make informed decisions going forward. Also, investing a whole 365 days upfront is quite the gamble.
So, break it into more manageable tasks. Possibly use a stepping stone approach. Maybe you can focus on one feature at first, maybe you can implement that particular feature even within another, more established app. Either way, understanding your product assumptions and testing them is absolutely vital imo.

By validating your product, you can make informed decisions, minimize risks, and save time and resources in the long run. Of course, you can think already about a traction channel for your app, but, to be quite frank, it makes more sense to get a sense for the validity of your product assumptions.

 

[lionessa]

You can absolutely live a Fastlane life by selling mobile apps. However, from experience, I would not go into the tank for a year to develop this app. Things change too fast. Tech, competitors, market, motivation levels... a year is a long time in this business.

Hi Skroob!
My name is Anna.
Would be be good enough to give me some ideas about medical apps?
Some time ago, I had an app developer that made me a platform to build holistic apps. I made a lot of them, over 250, like I did'n' have anything better to do. They work beautifully and they find treatment for all sorts of conditions. Results, because of algorithms, are astounding. It would be all right, if I knew what do to with them. I closed my practice during Covid and moved online, since I was working on apps already.
I am not sure if at least one of these apps can be salable. Medical terminology issue can be cleaned up I think so I could proceed at least with one of them. There is also a supplement finder that I made. Maybe that can be sold online. I am clueless, I am not a tech person. I would be forever grateful if you can share some of your knowledge in this area and maybe tell me what are the possibilities for apps like that.
Thank you so much

 

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[Qeno]

According to the answers above, I would recommend you the book "The Lean Startup". It will help you validate if you are on the right track and decrease the 365 days upfront by quite a bit I think .

 

[KiwiEC]

GOLD! - EXECUTION - I sold my app for $65,000. I learned to code last May.

Heya! The title is kinda self-explanatory In addition to this, I made more than $15,000 profit with the app, so I have $80,000, enough to be safe for a few years where I live. I started shipping tons of apps in September (7 from October to December), most of them were crap but it allowed me to...

www.thefastlaneforum.com

 

[lionessa]

According to the answers above, I would recommend you the book "The Lean Startup". It will help you validate if you are on the right track and decrease the 365 days upfront by quite a bit I think .

Fantastic! I will take a look.

 

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[lionessa]

GOLD! - EXECUTION - I sold my app for $65,000. I learned to code last May.

Heya! The title is kinda self-explanatory In addition to this, I made more than $15,000 profit with the app, so I have $80,000, enough to be safe for a few years where I live. I started shipping tons of apps in September (7 from October to December), most of them were crap but it allowed me to...

www.thefastlaneforum.com

Thank you KiwiEC, I've seen this thread, read it, sort of did not understand much there, to tell you the truth.
The only issue I have is these are medical apps, I am not sure what to do about that….but it never hurts to ask Jeannen

 

[Skroob]

Hi Skroob!
My name is Anna.
Would be be good enough to give me some ideas about medical apps?
Some time ago, I had an app developer that made me a platform to build holistic apps. I made a lot of them, over 250, like I did'n' have anything better to do. They work beautifully and they find treatment for all sorts of conditions. Results, because of algorithms, are astounding. It would be all right, if I knew what do to with them. I closed my practice during Covid and moved online, since I was working on apps already.
I am not sure if at least one of these apps can be salable. Medical terminology issue can be cleaned up I think so I could proceed at least with one of them. There is also a supplement finder that I made. Maybe that can be sold online. I am clueless, I am not a tech person. I would be forever grateful if you can share some of your knowledge in this area and maybe tell me what are the possibilities for apps like that.
Thank you so much

I'm not sure I can give you specific advice on those apps, but having a lot of them is certainly an advantage. You could put ads in them, list them all for free, and cross promote them inside the apps to increase downloads and ad views. You could list a few for free as intros and cross promote to get people downloading the paid ones. You could do subscriptions in a bundle; $20/year or whatever for unlimited access to all the apps.

 

[lionessa]

I'm not sure I can give you specific advice on those apps, but having a lot of them is certainly an advantage. You could put ads in them, list them all for free, and cross promote them inside the apps to increase downloads and ad views. You could list a few for free as intros and cross promote to get people downloading the paid ones. You could do subscriptions in a bundle; $20/year or whatever for unlimited access to all the apps.

Thank you Skroob, this is already a handful of ideas.

 

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