Mistakes and experiments are an integral part of any new endeavor. It is natural to anticipate any mistake and yes, we as humans are prone to making mistakes.
In many cases, mistakes are repeated and this situation succinctly explains why any start-up idea fails to grow. Any app idea envisioned by the entrepreneur can take a nosedive if the strategies are not defined correctly.
There are various dynamic factors that are beyond the reach of control in a startup. For example factors like competition, rules and regulations, market volatility and performance are such elements that cannot be individually influenced.
It’s a mobile-first world, and users are heavily reliant on their smartphones for holistic experiences. Whether it is checking any weather update to updating any social activity on various social media handles, mobile serves all the purposes.
It is good to understand the ecosystem of the customers’ needs and adapt to them by rendering mobile-based services through dedicated Mobile App Development Company.
But before you go full throttle and gear yourself for creating a mobile app, we urge you to embrace the enthusiasm and give yourself time to comprehend the pitfalls and rookie mistakes that can thwart your journey to success.
Here are core reasons that can create havoc, if not administered at the right time, i.e. while launching a mobile app.
Table Of Content
5 Mistakes To Avoid While Investing In A Mobile Application Idea
Rudimentary App Development
On a very fundamental ground, let us understand the fact that a mobile application product is designed and launched to meet the requirements of the customers.
But, sometimes the entrepreneurs make a mistake to assume that only their app can deliver effective and better solutions than rival apps.
Focusing on app development since the app inception, stating that problem and solution are what is the need of the hour. This is the first mistake that can be lethal for your startup.
Business is smooth and streamlined if the ideas are inspired by the customers. It is better to take insights from customers and know their pain points, flaws in the competitors’ apps, product features, UX and UI.
Over-Anticipation In Mobile App Development
Plentiful features add the value proposition of the mobile app idea.
Entrepreneurs end up adding the features more than they require and invest mindlessly during the launch of the debut version of the mobile app.
The downside of this strategy is that founders can lose the monetary resources quickly.
The goal should be around essential features and the reaction of customers to the services offered. It is good to build what delights your customers and give them a strong reason to switch to your app.
Problem-solving features that minimal effort is what makes you stand out from the mainstream.
Hire & Investing Too Fast
Try to optimize the strategies as well. That means to test the most vulnerable factors.
Initiate the process by recruiting the talent exclusively need for minimum viable product (MVP) completion.
If a startup does not have any credible business model, then it is foolish to get onboard extra team members. More team members do not always necessitate the success of a business.
Approving the business model through investing rapidly isn’t a sustainable idea. The hiring of resources should be based on response and demand from the audience and thus, it will eliminate the risk of startup failure.
Early Promotions Is The Secret Sauce
Marketing is a tool in business that can be used at any given time. Even if you do not have any idea about what to build, marketing even a vague idea can give a head start in your business endeavor.
Potential buyers go through a typical mechanism that involves interest and awareness about the product, trail usage, formal purchase and then referral.
Share your journey, lessons learned and keep yourself engaged with the audiences through blogging and articles.
Reach and resonate with the target groups via online and in-person communities and learn about the buyer’s psychology. It will give you a laser focus on prospective buyers.
Raising Funds at Nascent Stage
It is possible to procure funds from investors at an early stage. At the advent of product launch, investors jump into the bandwagon of essential performance metrics like revenue, customer acquisition cost, sustainability over time.
Alternatively, qualitative analysis and presenting facts based on interviews, market data, latest trends, a competitive analysis can be more credible to an investor than a startup with an MVP and no established market.
Technically, this winning strategy is a cohesive approach of various factors like target groups (B2B / B2C), product type (software or hardware), business model, skillset and technical acumen of an entrepreneur.
Your sales skills can help you get the investment in the pocket if the homework is done right.
All Set To Spearhead Your Mobile App Idea?
We shared with you common and mainstream mistakes that are vulnerable to any business. Always keep in mind, timing and execution should always be accurate. Whether it is about hiring talent, marketing the idea or raising funds.
On the other hand, when completely immersed in launching a mobile app for your startup, it is tough to figure our the right time for development, hiring, marketing, etc. At this juncture, surround yourself with the right people and always quiz them with your goals and seeking advice.
About the Author
Morris Edwards is a web developer & marketing strategist who works with Awebstar, a social media marketing agency in Singapore. Apart from this, he loves to write blogs on web design, SEO & internet marketings. Follow him on Facebook and Twitter to get his new articles and updates instantly.