5 Steps to Help You Discover Whether Your App Idea is Worth Your Investment

You have an idea and you wish to transform this idea into an app. Before you invest your valuable time and money into building this app, validate your idea and check whether or not it’s worthy enough for investment. These 5 steps will help you gain a real sense as to the credibility of your idea.

Step 1:

You consider your idea to be cool and you are confident that it will be popular and profitable. But before coming to any conclusions, validate your idea by dissecting it. Dissect your idea, be rational, and come up with points as to why your idea might not work. If you are not able to get enough points to counter why your idea is not worthy, or the points listed are trivial, then you’re on the right track.

Step 2:

Identify your target audience, understand them and their requirements. Analyze whether your idea is solving their pain points or helping them in any way. Remain in their shoes throughout for more meaningful analysis.

Step 3:

Carry out market research to determine whether the idea, or related concepts, are already in existence. Search related apps and concepts on App Store/Play Store/Google to determine the uniqueness of the idea.
a. If you find your idea is a new and unique concept, obviously you have an edge. You can milk this fact when enticing investors and whilst marketing the app.
b. If there are apps on the market with a similar concept, determine what add ons or new functionality you could include. Read reviews and blogs about the existing apps, making sure to take particular note of the negative reviews and of features the users were expecting. You can cash in on this and address these points to make your idea better and more appealing.

Step 4:

Once you are decided on the features of your app, talk with friends and family, explain the idea to them and ask questions, such as:
i. Would they use the app?
ii. Would they be willing to pay for and spend time on the app? Would they recommend it to friends?
iii. What features would they like to be included?
Along with the answers you receive, make sure to read and take note of their non-verbal communications. Examining non-verbal cues such as their facial expressions, will reveal just how they feel about the concept, for example, their interest, enthusiasm or negativity. Answers to these questions can truly help you determine the effectiveness of your idea.

Step 5:

Conduct a survey with your target audience. The survey should have pointed questions and the results should deliver a conclusion as to whether or not to pursue the idea, and if pursued, what extra features could make the end user fully satisfied. You should survey subjects which vary in age, gender and location in order to generate accurate data. Consider incentivizing the survey to encourage the participants to take the survey seriously.

Lastly, one important factor to keep in mind; the idea needs to solve a problem, it needs to help people and deliver an improvement; it is this that will drive its success.

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