WHAT WE LEARNED FROM OVER 213+ ASPIRING APP ENTREPRENEURS

Apr 20

WHAT WE LEARNED FROM OVER 213+ ASPIRING APP ENTREPRENEURS

We believe in helping people create their passion: making their ideas happen.

 

This is why we’ve created a Quiz to understand where aspiring entrepreneurs are at. Our focus is creating businesses where technology is a key enabler to the business.

 

Firstly some stats: 88% take the quiz on a smartphone, 2mins 20 seconds to complete the quiz, 35% completion rate.

 

Some key insights/ thoughts/ arguments… and what that means:

 

  • 43% of app entrepreneurs believe their idea is unique – is it unique or have they not researched the market fully? Can the technology be made to fulfil that need? Is their a market for this idea??
  • 27% believe they have a unique angle on an existing problem – with mobile innovation moving fast, this makes sense and enables disruptors to innovate on existing models by transferring across learning from other areas.
  • 43% had been thinking about their idea for over a month… which is good as they at least were researching if their app could be successful when they took our quiz. The next step is to take action at a low cost to prove that the concept can work.

app entrepreneur

  • Amazingly 61% had never shared their idea!!? We live in a world where people are scared that their ideas can be stolen, but the truth is, it takes a lot of effort and a great team to make an idea succeed. Do you think that if you sent an email to the CEO of your biggest competitor, laying out your idea, they would copy it??! Truth is, speaking to people will help you move forward with your idea. Don’t use the “I can’t tell anyone ever about my billion dollar idea” excuse to never do anything about it.
  • 8.26/ 10 was the average score received by people who told their ideas to others. Potentially some generous friends or some great ideas in hiding! Conveying the brilliance of your concept with words is difficult hence why we always start with wireframes, graphic design then an interactive prototype. Spending the less possible to get the maximum result.
  • 26% think that they have no USP but their app will be better than others. Now that’s possible but will require us to have amazing branding, marketing and launch strategies to execute…

  • 64% of app entrepreneurs have little to no social media presence. In today’s society, having reach on social channels is a differentiator and helps you market your app. If you do not have some yourself – what influencers or partners do you know that could help you?
  • 84% are not experts in their sector of choice… the easiest place to innovate successfully is where you know and understand the market, and can find ways to optimise things.
  • 89% do not have strong links to people who have a strong network in their sector… having routes to market is critical to succeeding to proof of concept stage at a low cost. If you do not have links/ routes to market – can you partner with someone who does?
  • 58% of app entrepreneurs have no money to take their idea forward. You need to take a financial risk to get your idea moving forward. We support entrepreneur to go from idea to an interactive prototype, via lots of consultancy for only $4k – this means you’re ready to get investment. If you cannot invest to that level, you will need to do that work yourself if you want to make it move forward – don’t just give up on your idea!

app entrepreneurs