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How to become a millionaire making iPhone apps
Actually one of the better ones to mention would be "Infinity Blade" which did over $50mil in record time. Angry Birds took a long time to get there and multiple versions - but they kind of set the way for spin off games too with their "Season".
One thing to note is the forumla is not 100% correct.
1) It assumes a single developer, the apps that have really gone off are large development companies as such that profit gets spread a little thinner.
2) The average App Price takes into account there are a lot of free apps & some running as much as $49.99, realize most paid apps by a single developer generally run Free - $.99. Remember also though if you make an app you are going to be expected to update that app as the system updates to keep it running well.
3) The other option is a free app that uses the advertising platform, this is good for those who do not have the time to put in all the hours every time there is an update to test and try the app.
- Games make the most money but are also the most competitive market for any electronic device. In that side you are better off making a very notable game and selling with some royalty rights to one of the larger developers.
- You need to consider how to keep people using your app, I can't tell you how many get that I never use again, apps like that do not last long and the longer they last the more $$ you will make. If you are using an advertising method for income on the app you really need to be able to grab people.
- Focus on a Niche, if you try to broad run to every one you are more likely to fail, especially at your first app. It is better to begin focus on a small group - someone you can target easier and then let it grow. While failure is a good thing, there is no reason to set yourself up for it. I have a few friends who do very well developing apps for kids, while they don't often own the devices you would be surprised at how often the parent will hand the kid the phone to keep them occupied in the car.
That said - I am currently working on 3 apps at the moment, 2 focused on the car enthusiast niche and 1 on photographers.
Thanks for sharing Matt. Are you doing the programming yourself?
thanks for the info Matt. I have heaps of ideas but no skills.....maybe i need to learn some new skillz
I am right now doing both the design and the programming for the apps, issue mainly for me is time. Between a full time job, my freelance design/dev/photography and some time to relax (car season people lol) it is a little slow going.
I actually have a few other projects aside from that including a social network I am about done with (FINALLY) and hope to have in Beta soon, the mobile apps, my personal portfolio, and a blog site I want to get going - so lots going on LOL.....
Outsourcing seems like a good solution on the face of things however there are several drawbacks, I have looked into it but I question it's value.
When you outsource your main gain is time, and of course if you do not have the skills to do the task you are saving in having to learn those as well.
The down side has longer lasting effects. When you outsource you do not know how to do any of the updates so you lock yourself into always outsourcing or hiring someone to work for you, there you will see a good portion of your profits go away. Next you are creating a potential competitor, they now know how it works and would be in a prime solution to make a better one to compete - and even with NDAs and NCAs they can still find ways to compete with you.
If you can hire the staff to do it then that would be ideal however you have to have that capital up front to do this, without it you cannot hire anyone.