How to Build a Startup Business Plan For Your Mobile App Idea? (A Comprehensive Guide on How To Do It Right!)

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How to Build a Startup Business Plan For Your Mobile App Idea? (A Comprehensive Guide on How To Do It Right!)
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Who should read this content:

  • Entrepreneurs – Who wants to learn how to create a startup business plan for their mobile app startup ideas.

A successful mobile app startup – like any – requires a good business plan. Developing a mobile app without a startup business plan is like building a house without a blueprint. You could absolutely do it, but most probably you won’t be pleased with the end-result. So, if building a startup business plan app seems like a daunting task to you, then you’ve come to the right place.

In this blog, we’ll explain all important steps you need to follow, in order to build a business plan that is ideal for your mobile app idea.

Let’s get started!

1 – What’s The Problem?

The very first thing you need to do, before starting anything, is defining the problem. A problem is a difficulty that consumers face, which currently has no solution or the available solution has its limitations. So before starting mobile app development and hire Android or iPhone app development company for your startup, you need to identify the gaps in the market and fill them with your mobile app idea.

2 – Why an App?

Everybody knows that mobile app business is the best business to be in nowadays. According to AppAnnie, the mobile app market is expected to grow 270% – from $70 billion in 2015 to $189 billion by 2020.

app-annie-forecast

While building a custom mobile app tailored for a particular business is quite expensive, starting from $5k to $100,000. But, if the idea is brilliant and mobile app quality is top-notch, then ROI could be significant.

All you need to do is this – Write down the need of your app. How it’s going to fill the gap of market’s current solutions. And be as detailed as possible. Don’t just describe the need in one or two paragraphs, but quantify it with as much concrete information as you can find.

One you’ve written your mobile app idea and described its need as detailed as possible, the next step is to validate your app idea. Now it might also be possible that you just want to start a mobile app business, but you’re not sure in which industry. You don’t really have a mobile app idea to get started.

Here, you can take help from our recent blog on How to Come Up With New App Ideas to Make Money? (And How to Validate Them!). It is a detailed guide for anyone who wants to learn how to come up with money making app ideas.

3 – Startup Business Plan – Marketing Essentials!

Your marketing plan for mobile app startup has to address, at least, following three points.

Target Audience

Customers are the key ingredient for the success of any kind of business. Though, you won’t be able to attract and engage customers if you don’t know them.

So, who are your customers? What do they really need? What problems do they face? What solutions do they prefer for their problems? Are they completely satisfied with the available solutions? If not, what is an ideal solution looks like from their point of view? Does your mobile app idea has capabilities your potential customers expect?

Find answers to all these questions and you’ll automatically have your mobile app idea validated.

Remember, the more you know about your potential customers, the more likely it is to achieve success for your mobile app startup business plan. Therefore, research about your customers and collect as much concrete, relevant information as you could find.

Unique Selling Proposition (USP)

Why should anybody use your app? This point is quite related to the Why an app section. However, the important difference is, defining your unique selling proposition will help you tell your users why your mobile app is better than others.

What is USP?

Your USP is a persuasive description of your mobile app solution. Your USP is most important if your app is competing with other similar apps, because it will be used to convince someone that your mobile app is superior than others, and it solves the problem without any limitations.

So, if you’re not an advertising expert, then you might need to get one who can help you define a concise and persuasive USP for your mobile app startup.

Marketing Channels

Investing thousands of dollars into mobile app development for your startup and then waiting for users to download it once you’ve launched on App store WILL NOT WORK.

It’s because nobody knows about your app.

The main reason why many startups fail to succeed is because they either don’t do any marketing at all, or they spend their marketing budget in the wrong places.

For any kind of mobile app startup, a good place to start is by finding where your ideal target audience are hanging out online. Depending on your target audience, you can choose different marketing channels from below list for spreading your marketing messages.

  • Social media ads (Facebook/Instagram)
  • TV Advertising
  • Content Marketing
  • Press Release
  • Search Engine Marketing
  • Email Marketing
  • Incentivized User Downloads

These channels will help you get various ROI, but you’ll have to test multiple metrics in order to find the right channel that delivers best results.

4 – Startup Business Model & Monetization Strategy

The mobile app marketplace is more complex than ever.

The iOS app store has more than 2.2 million apps.

Google Play Store has around 2.5 million apps.

Every category has hundreds of identical apps. This is why, now is the time that you figure out how exactly your mobile app will earn its keep. Most mobile app startups face difficulties in generating revenue in the beginning. Therefore, you need to choose a sensible monetization strategy to overcome this problem.

You must have a clear monetization strategy from the launch, constantly adjust it as your app grows. Now, if you don’t know how many ways to monetize your mobile app, you can read our blog on How Do Free Apps Make Money? 7 Proven & Popular App Monetization Methods. It’s again a detailed guide with different types of monetization methods with explanation of how each one works.

Conclusion

Establishing a successful mobile app startup is not about taking tons of risks or choosing a dangerous path, but it’s rather about moving forward with the right approach and pivoting intelligently when necessary.

Moreover, once building a mobile app idea, you should not stress much on building a startup business plan, and rather focus on execution part. And, as far as mobile app business plan is concerned, you can just follow the above process and quickly create your startup business plan without wasting much of your valuable time.

 
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