Presentation 1

NAME : SHAIK FAREED P.
M
REG NO : 121012153548
COURSE : ENTREPRENEURSHIP
COURSE CODE : XCG502
ASSIGNMENT : 2
TITLE : APP DEVELOPMENT BUSINESS
Why You Need a Business Plan for Your Mobile App ?
Mobile apps brought an unexpected revolution to the digital era. The number of unique and useful apps
increases daily.
Just a year ago, the number of applications available on the App Store exceeded 2.2. million.
The mobile industry is forecasted to bring in almost $190 billion of revenue in 2020.
Mobile industry revenue forecast
If you would like to join this beneficial industry, and already have a great app idea, it’s time to take the next
step towards your goals and bring into being a great app business plan.
But first, let’s clarify why you actually need a brilliant business plan for an app.
If you would like to join this beneficial industry, and already have a great app idea, it’s time to take the next step
towards your goals and bring into being a great app business plan.
But first, let’s clarify why you actually need a brilliant business plan for an app.
Attracting great minds and great investments
Depending on the type of business model you want to use, you have to decide between startup co-founders or
investors. In some cases, you need to attract both. An application business plan is your sole way to fulfill this task
quickly and proceed with more significant steps towards your company’s growth.
Reducing the risks
Recent reports show that writing a business plan will bring you closer to your goals and ambitions.
Entrepreneurs with extensive business plans are more likely to develop their company and increase their
revenue than those who without a plan.
Planning is a simple way to secure loans and investments.
How can a business plan help.

Keeping to the defined strategy
In a world full of interruptions, it’s hard not to miss the important things. Every day you, as a startup owner, will face new issues
and obstacles. But a set of points on your blueprint will act as a quick reminder of why you started it and where it should take you.
Preparing properly
“By failing to prepare, you are preparing to fail.” ― Benjamin Franklin
Benjamin Franklin wasn’t involved in software development, but these words highlight the app business plan significance. By
writing a plan, you are enhancing your knowledge about the market you plan to break into. This will clarify your goals, set your
priorities and help you build more accurate forecasts. It’s your chance to reveal possible risks and find your own voice in the
industry.
Managing and delegating effectively
Being a good manager is an art. A mobile app business plan is your tool for creating a masterpiece. It provides a vision of critical
tasks, helping you delegate each of them to the responsible person.
An App Business Plan Template
Now that you know how meaningful a business plan is for any project is, let’s find out what it actually is. Typically, a business plan is
a set of:
• bullet points describing your vision.

• some statistics providing real numbers about the industry you plan to enter.
• tables with defined steps and strategies you would like to implement to reach your goals.
Is the product viable? Does it have the potential to bring new experiences to the user and measurable benefits to its founders?
Those are 2 primary questions your app business plan should answer. Include the following components to make your triumph
inevitable.
Section 1. Executive Summary
This is the introduction to your business plan. This is the first thing your potential investor will see when becoming acquainted with
your idea. Make it clear and remarkable, and answer these questions in your summary:
What problem do you want to solve?
Even though the market is chock-full of different solutions, consumers always face some obstacles and complications. You need to
find these problems and identify the one that you can solve. Analyze your target audience’s needs at the moment, why the existing
solutions do not satisfy these needs, and what you can offer to solve this problem.
What is your solution?
First of all, make sure your project is capable of addressing this problem. Then, introduce your idea but do not dive into details. This is
not the right moment to introduce the functionality to investors. It’s time to generally highlight what your app will do to make app users
happy.
Section 2. Make a Business Description of Your Company
Create an attractive overview to increase interest. This section is how you get closer to potential partners by presenting the following
things:
Basic info about your organization
Either your company is an LLC or another entity, the potential investor should know this. The company’s structure defines the way
processes will be organized in the future.
Section 3. Market analysis
To launch an app startup, you should know everything you can about the industry you are entering. By understanding its
past and present, you can impact its future. This stage moves a hypothesis to real statistical data.
How big is the market?

• Total Available Market, or market demand for your app.
• Serviceable Available Market, or the number of users you are able to reach out to.
• Serviceable Obtainable Market, or the segment of your first users.
Section 4. Marketing strategy
A solid mobile app business plan should describe how your app will get to potential user smartphones. Let’s have a glance at our step-by-
step guide on how to build a successful marketing strategy:
Identify the channels you can acquire customers from
Today, social media marketing is considered the most effective way to promote a product. But will it be enough for your app? Go back to
the research phase and find out how many potential users you are able to meet on Facebook, Instagram, or Twitter.
Section 5. Define Your Competitors
If you are not Elon Musk, you definitely have competitors. And if you have competitors, you should learn from them. Make sure your
business offers unique functionality and has the ability to cater to users’ wishes like no other tool could. But at the same time, be aware
that there will always be someone doing something similar. Know your competitors. Study the market and increase your awareness of
potential rivals, as well as their history and capabilities. Study their weaknesses and brainstorm how to turn these into your strengths.
Section 6. Choose a Monetization Strategy
As we reach the finish line of your app development business plan template building, we will talk about finances. Running a non-profit
project is good, but when it comes to mobile apps, which have a market of billions of dollars of revenue annually, the monetization
strategy deserves exceptional attention.
In Conclusion
Strive to create an excellent app business plan, keeping in mind the following tips:
Make it simple and clear.
Be professional and realistic.
Avoid slang.
Proofread, then proofread it again. Also, don't neglect grammar checkers like Grammarly. Such a tool will not only correct your
spelling or grammar but also advise you on the style of your writing.

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NAME : SHAIK FAREED P.

Mobile industry revenue forecast

Reducing the risks

Planning is a simple way to secure loans and investments.

How can a business plan help.

“By failing to prepare, you are preparing to fail.” ― Benjamin Franklin

Managing and delegating effectively

• bullet points describing your vision.

Section 1. Executive Summary

What problem do you want to solve?

Section 2. Make a Business Description of Your Company

Section 3. Market analysis

How big is the market?

Identify the channels you can acquire customers from

Section 5. Define Your Competitors

Section 6. Choose a Monetization Strategy

Make it simple and clear.

Be professional and realistic.

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