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One does not NEED a college education, but I'm sure the Investment banker on Wall street that got a 10 million dollar bonus last year isn't complaining. Work one year, retire the next..not bad
The 100 hours a week and 10-15 years of experience are probably reflective of the path they took. May not be for everyone.
 
Always looking out for the best of members, good luck on your next endeavor, although we all know luck isn't as important as effort. I'm interested to see where this goes.
 
Discussion starter · #31 ·
OK boys, I been a bit busy with business/fam stuff so I haven't made an update in a couple days. Basically I don't want any investors in this project as I want to prove myself that I can build this essentially on my own minus coding (couple friends helping with gfx and such :)).

My insight on an app and what I think a successful app requires:

-Social media integration (this helps spread your app aka. free advertising)
-A reason for people to open the app again (this is why IG is worth so much; on avg, people open it 10+ times a day)
-Entertainment factor. (what can I say, people like funny things and want to be entertained. There is no recession in the entertainment industry, ask floyd mayweather jr)

My particular app will be free. If you look at the top grossing charts you'll notice that 99% of them are free. It is almost foolish to have a paid app because you can make money other ways (not just advertising). I am anticipating large download numbers the day the app drops onto the market... After all, more downloads, more money making potential! Pinterest is the perfect example, worth 2.5 billion, yet has made no money at all. Why is it worth so much? It has millions upon millions of downloads, the traffic just has to be monetized... Its like owning a piece of land with a huge amount of oil underneath.

Will continue part 3 on Tuesday. :)
 
Don't invent something YOU would use (you want to appeal to the masses, and if you're an entrepreneur, odds are you are smarter than most)
This is contrary to most advice in the startup world. Solving your own problem gives you a unique product lens to guide you through difficult decisions. I think what you're really trying to say is to pick a big market, not a niche. Now that is good advice.

Regardless, wish you the best of luck.
 
Yeah you definitely want to widen your market as much as possible to get the most amount of users it can cater to.


For example Instagram, photographers can post their work w/o filters, wannabe photographers can post their pics, and all the teens like it for the social networking and commenting ability.
 
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