Android Developer Entrepreneurs decide to run their own business encouraged, at first, by the opportunities presented to them. These opportunity-driven kind of people come up with ideas for solving problems in the best way possible.
Keeping customers happy is one of their main goals, this mindset creates a great environment in which earning money is a consequence of a good service. Being aware of what your audience need is good start for the success of any business.
According to the Global Entrepreneurship Monitor (GEM), entrepreneurship has accelerated the economic growth: 42% of working-age adults see good opportunities for starting a business, and 22% of the people surveyed expressed an intention to start a business in the next three years.
Although people are willing to do what it takes to become entrepreneurs, this study also shows that one of the reasons why some may hesitate to take advantage from this kind of opportunities is the fear of failure.
Entrepreneurs usually overcome this fear and are eager to create a new business, even when that means risking all of their budget. If you are looking to become an entrepreneur, take the example of one of the most famous apps of all time: Angry Birds, the creators developed 51 apps before it had became a hit.
How to reduce failure?
Of course, we won’t deny some things have changed, as now it seems more difficult to stand out from competition. So, what can we do to improve our chances to succeed?
We have to keep in mind planification and strategy as important aspects to achieve success. Entrepreneurship it’s about making decisions but also taking your own responsibilities from them.
Instead of planning for success, entrepreneurs should plan for failure. To do that, you must think ahead and answer questions like How will you act if everything goes wrong? or What would you do with your employees? This way you’ll be more prepared to think about the worst scenario possible and be ready to overcome certain loss of money.
Remember that being on your own sometimes means doing the tasks of the several teams that big companies usually have. If your are alone launching a new business or product, review all the work you’ve done and start answering the following questions:
What is your value proposition?
There are a lot of companies building apps for specific purposes, so you must define what separates you from them, what´s the value you offer above theirs.
For example, transportation services work, but how did Uber become so popular then? In order to build a successful app you need to know your audience, identify if you solve a problem and test your solution to gain some feedback before your app hits the market.
What is your business model?
You need to know all your options to get revenues from your app idea. A way to choose which business model suits best for you could be determining how much money you want to earn in a certain period of time. As we’ve seen before, there are three main business model options: Paid model, Freemium and In-app Advertising.
If you want to learn how to monetize Android apps with business models, make sure to enroll to this course, part of the MicroMaster program.
How will you promote your app?
You need to identify the best channels available to promote your app. you can start using social media to reduce investment on advertising.
Also, keep in mind that as an entrepreneur, you will be the best person to spread the word about what you’re doing. Having said this, try to participate in events or make conferences with the purpose of showing what you do. This will allow you get a bigger network that eventually could increase your opportunities to succeed.
In conclusion, becoming an entrepreneur is not an easy task, it all begins by knowing your weaknesses and strengths and taking a big decision. It is normal to be afraid, however, entrepreneurs deal with that uncertainty knowing something great could also happen.