In the fast-paced world of technology, the allure of developing a game-changing app can be irresistible. It often begins as a simple idea, a passing thought, but as it lingers and grows, it can turn into a serious ambition. You start to think, "This could make a lot of money," and before you know it, it becomes a clear goal: you're going to create an app, and it will be the foundation of your new business. But what's the next step?
Once you've made that commitment, your journey is just beginning. Many people mistakenly believe that building an app is as easy as snapping together pre-made building blocks, with the idea being the most challenging part. However, the reality is far more complex. As a company specializing in staff augmentation and software engineering, we want to provide you with a realistic view of what it takes to build your first app from scratch as a business.
Let's momentarily set aside the complexities of establishing a company, the challenges of running a business, the task of figuring out how to make your app profitable, and the monumental effort of launching and promoting it. To dive into all these aspects would turn this blog into a book. Let's instead assume you've got these areas covered, and all you need now is the crucial element: a working product to demonstrate your efforts. So, what exactly do you need for this stage?
1. The Financial Realities of App Development:
Allocating Funds:
Contrary to common misconceptions, $5,000 won't get you far in app development. Creating a marketable, scalable, and reliable app requires a significant investment. Skilled engineers are essential, and their expertise comes at a cost. You need to budget for hiring at least one highly skilled engineer full-time or consider a team of experts if your project demands it. Building a quality app is an investment, not just an expense.
Time Commitment:
The timeline for app development varies depending on complexity and scope. Simple apps may take around four months, while more ambitious projects can extend up to two years. You can speed up development by adding more team members, but this also increases costs. It's crucial to set realistic expectations for how long it will take to develop, test, and refine your app.
Effort and Collaboration:
Engineers, no matter how talented, can't work in isolation. Building your app requires ongoing communication and coordination. Balancing this with a full-time job can be challenging. You'll need to invest significant effort in providing clear guidance and feedback to ensure your app aligns with your vision.
2. Exploring Funding Options:
Bootstrapping:
If you have some capital to invest, bootstrapping is an option. It allows you to maintain full ownership but carries financial risk. Don't deplete your savings or go into bankruptcy pursuing a breakthrough. Only bootstrap if you have a strong idea, confidence in the opportunity, and financial stability.
Venture Funding:
Pitching your idea to investors can provide the necessary funds without personal financial risk. However, competition for funding is fierce, and success is not guaranteed.
3. Building the Application:
Choosing a Software Development Partner:
Many companies specialize in building products for others. While convenient, this may result in a changing team and less control over creative and technical decisions. Costs can also be high.
Hiring Freelancers:
Platforms like Upwork offer access to global freelancers at various rates. However, relying on a single person or freelancers can lead to project abandonment or unexpected challenges.
Staff Augmentation:
Staff augmentation allows you to hire engineers from an agency dedicated to staffing talent. It offers creative freedom, cost-effectiveness, and reduced risks. Consider nearshore options for cultural synergy. While timelines may be less precise, progress is steady and cost-efficient.
In conclusion, building your first app from scratch as a business is an exciting journey, but it's essential to have a realistic understanding of what it entails. Consider your funding options carefully and choose your development approach wisely. Speak with experts and providers in the field to make informed decisions. With dedication, planning, and the right resources, your dream app can become a reality.
