Entrepreneurs are tricksters – they create something where there was naught. It could be a new way to buy every day items like groceries. It could be a product we didn’t know we needed like an I-pad. Currently, it is all about
apps for mobile devices.
There are 2 parts to this app craze. First, the delivery device is a mobile phone. Why is this brilliant? Virtually everyone in the US has at least one mobile device. We all have access. It is fast and easy to get apps from the Apple or the Android store. How many apps do you have that you have never used, have no idea why you got them and don’t bother to delete? See what I mean? Why don’t you use apps to communicate with your current customers? Why do you think this is just for high tech companies?
One of my Vistage Members has captured this to get customers to sign for receipt of delivery. Another Member gives customers access to inventory through the app, so they can order what’s in stock. These are companies that have been around for more than 60 years. They have brick and mortar locations. They have assets that make banks love them. They are also totally customer-focused and plan to be the provider of choice for the next 60 years.
The second part of the App craze is totally new businesses for which the app is their business. You have bought from them- the exercise app that tells you what to do and how often to do it and then tracks your progress. You pay a one time fee or a subscription and they make money by selling thousands or millions of subscriptions. You might be able to do this too.
Or maybe you have a product idea that won’t pay for itself in a local market. The customer base is spread everywhere or the product would not be highly used in any particular place. And not used in great quantities in your locale. Yet, if you could put it out on the internet, you might have enough subscribers to be profitable.
Would it be worth trying an app and advertising it to current and potential customers?
Put a small team together and challenge them to come up with an app that would expand the pie for your company. The entrepreneur in you will hum a little tune in anticipation of what they can create.
Illustration courtesy of pexels.com