Saturday, May 26, 2007

[HOW TO] - Commercialize Your Mobile Apps & Become A Potential Millionaire

I have written this TIP in one of the Mobile Application Developers Forum in Malaysia. I think I better share this TIPs also here....

Most developers have the misconception that their innovative ideas can be commercialize and make "easy money"
Before we raised any false hopes, let me share some of my experience and make this part of your tips:-

1 - Survey the market and survey the apps that have been launch by the telcos in Malaysia. Do not duplicate things which have been launched unless yours is being proven to be better (features and can get more revenue).

2 - Ensure you have good technical support to convince the telcos. A good product need to have propoer customer service support and clear product roadmap. Its not something which is "one-off" sort of app. You cannot simply "run" away after selling the product to the telcos.

3 - Have a system can consolidate your data (traffic) against the telcos. There might be variances that you might challenge with the telcos. And normally the telcos have the right to use their traffic data to make payment to you.

4 - Ensure your apps have the right capability to charge the customers.

5 - Get a reliability system to host your application. Cannot afford downtime.

6 - A telco can commercialize with a techno-preneur but if possible (advisable), work with an established company (CPs) that have establish relationship with the telcos to be your business partner. Its easier to convince this way rather than an unknown company.

7 - Be flexible in your business model. You might lose in the short term but gain in long term. There are times when the telcos didn't realize that a revenue share model can be very risky to them and finally they have to pay A LOT to the CPs. How they wish they just buy the solution....hehe..

8 - Get to know the people in the telcos to ensure you have the buy-in. Some sale life-cycle can be 1 month but some can be 6-12 months period. Don't expect fast wins.

9- Don't raise your hope so much if there is a verbal agreement from the telcos. Things are so "volatile"... Decisions can change very fast. Get an official award letter.

10 - Ensure that your products have the trust from the customers. Don't cheat them and try to make fast money.

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