Jonathan Richter is CEO of Winnona Partners, an app development firm based in Atlanta, GA shared how to approach your app as a business, and how customers discovery tactics to determine your app's core features, and more!

1. WEBINAR: How Startups Can Develop Successful
Mobile Apps for iOS, Android and Web
September 20, 2018
hello@bignerdranch.com

2. ● Phone lines are muted
● Q&A Session at the end of presentation
● Download copy of slides using Handouts panel
● A replay will be available
Big Nerd Ranch
Housekeeping notes

3. ● Digital Product Development
● Immersive Training Camps
(offsite)
● Team Training (onsite)
● The Frontier (screencasts)
Big Nerd Ranch
Build Brilliance

4. Feature Presentation

5. Jonathan Richter
Winnona Partners CEO
Big Nerd Ranch Webinar Series
Thursday September 20th, 2018

6. Webinar Overview
● Approaching your app idea as a business
● Choosing your feature set
● Minimum Viable Product (MVP) concept
● Monetization Strategies

8. 3-Step Validation Process
● Validate your concept
● Validate your product
● Validate your pricing structure

9. Is Your Business App-Ready?
● Choosing to develop an app
is the same as deciding to
start a business.
● The app market is highly
competitive
● Avoid the “if you build it, they
will come” mentality

10. App Startup Costs
● Apple and Google Developer accounts: $125/year
● App Development Cost: $5k - $100K+
● Server payments: ~$300-500/month if applicable.

11. Concept Validation
● YES! Your app idea is possible to build
● The question is: should it be built?
● Take a scientific approach to validate your idea first

12. Craft Your Hypothesis
“I believe [Customer Segment] will [use this app/software solution]
because [Value Proposition].”
Who: Customer
What: Product
Why: Value Proposition
● Solving a problem
● Providing a benefit

13. Sample Hypothesis
“I believe creative writers will buy an artistic typewriter app because
it will help them share their compositions.”
Who: Creative writers
What: Artistic Typewriter App
Why: It will help them share
their compositions

14. What is Customer Discovery?
● Identifying your ideal
customer
● Interviewing these customers
to validate or contradict your
idea
● Determining if people will
pay to solve the problem

15. Important Questions to Consider
● Who are your most important customers?
● What customer problems are you helping to solve? What needs
are you satisfying?
● How will you get, grow, and keep customers?
● How will you make money?
● Which platforms should you develop for?

16. Interview Tactics
● Face to face interviews with people you don’t already know
● Avoid asking close friends and family
● Ask open-ended questions
● Record every response as genuine feedback
● Avoid getting plain ‘yes’ or ‘no’ responses
● Beware of selling vs. listening
● Try to talk to at least 100 people

17. What is an MVP?
“A minimum viable product (MVP)
helps entrepreneurs start the
process of learning as quickly as
possible. It is not necessarily the
smallest product imaginable… it is
simply the fastest way to start
learning how to build a sustainable
business with the minimum amount
of effort.” – Eric Ries

18. MVP Options
● Website
● Web App
● Sample Mockups

19. Don’t Fear the Pivot!

20. Most Popular App Monetization Strategies
● Premium/Pay to Download
● Freemium or Paymium/In-App Purchases
● M-Commerce
● Subscription Model
● Advertising

21. Premium Model
Pros
● Easy to implement
● Low-cost to develop
● Metrics are easy to track
● Easy for users to purchase
Cons
● Barrier to entry- not
everyone buys apps
● No recurring revenue
● Apple/Google takes 30%
of all app sales

22. Freemium Model/In-App Purchases
Pros
● People more willing to
download
● Relatively low-cost to
develop
● Possible to add more IAPs
over time
Cons
● No guarantee that a
download will result in a
sale
● Separate approval from
Apple
● Apple/Google takes 30%
of all app sales

23. Paymium Model/In-App Purchases
Pros
● Maximize profit potential
● Guaranteed sale per
download
● Possible to add more IAPs
over time
Cons
● Barrier to entry- not
everyone buys apps
● Separate approval from
Apple
● Apple/Google takes 30%
of all app sales

24. Mobile Commerce Model
Pros
● Apple and Google will not
take 30% of all sales
● Potential to increase
overall sales with a mobile
app
Cons
● No guarantee that a
download will result in a
sale
● Not as convenient for
large purchases or
comparative shopping
(like buying a car)

25. Subscription Model
Pros
● Can generate recurring
revenue
● Flexible pricing tiers
● Optimize customer
segments with trial periods
or special rates
Cons
● Must code subscription
separately for every platform
● Expensive and challenging for
new companies
● Apple/Google takes 30% of all
app sales for the first year

26. Advertising Model
Pros
● People more willing to
download if free
● Low-cost to develop
● Straightforward strategy if
you have a large user
base
Cons
● Requires large active
user base
● CPM is complex and
varies depending on the
advertiser, platform, and
ad type

27. Additional Strategies
• Gamification - include ways to ‘hook’ your users, thereby
encouraging them to buy more features.
• Customization - use data and algorithms to customize offerings
to users’ wants and needs.

28. Resources
● The Lean Startup by Eric Ries
● Hacking Growth by Sean Ellis and Morgan Brown
● Traction by Gabriel Weinberg and Justin Mares

29. Stipulations
● Apple and Google’s 30%
● Limited Support
● The 48 Hour Hurdle
● Policy Changes

30. Thank You!
Jonathan Richter - richterjk@gmail.com
winnonapartners.com