App Trillionaires Course 1: A Step-By-Step Program To Creating A Successful App Business!

COURSE 1: App Business First Steps

App Trillionaires: A Step-By-Step Program To Creating A Successful App Business!
By: Abhinav Gupta
Lead Developer and CEO of Game Scorpion Inc.
http://www.gamescorpion.com
http://www.apptrillionaires.com

If you find this information useful, why not consider joining the live courses? They are
running now between June 22nd, 2012 to the end of August 2012. To find out more
simply email us at info@gamescorpion.com to sign up for an upcoming free or paid
course.

1. The App Business

The App Business is one of the hottest businesses to get into and just to share some stats
on why RIGHT NOW is the best time to get in, here is the following to help you realize
how profitable it is:


Image from Wikipedia: http://en.wikipedia.org/wiki/App_Store_%28iOS%29

-Over the past years Apple has paid out 4 BILLION DOLLARS as of January 2012
(http://www.appleinsider.com/articles/12/01/24/apple_has_now_paid_4_billion_to_app_s
tore_developers_.html). This is just a simple example of how LUCRATIVE this
business can be!

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-Total of 300 Million+ Apple devices alone have been sold worldwide
(http://www.macobserver.com/tmo/article/apple_total_ios_device_sales_top_365_million
/)

-There are LESS than 1 million apps in the Apple App Store yet 300 million+ Devices.
This is just APPLE alone. As per http://148apps.biz/app-store-metrics/ the following
stats can help give a better overview of the app market:



Stats as of June 18th, 2012:
Count of Active Applications in the App Store [details]
Total Active Apps (currently available for download): 669,835
Total Inactive Apps (no longer available for download): 185,291
Total Apps Seen in US App Store: 855,126
Number of Active Publishers in the US App Store: 165,875
Count of Application Submissions [details]
This Month (Games): 1,488 ( 83 / day )
This Month (Non-Games): 13,211 ( 734 / day )
This Month (Total): 14,699 ( 817 / day )

Application Price Distribution [details]
Current Average App Price: $1.98
Current Average Game Price: $1.05
Current Average Overall Price: $1.85

Application Category Distribution [details]
Most Popular Categories
1 - Games (116738 active)
2 - Education (65909 active)
3 - Entertainment (65169 active)
4 - Books (64696 active)
5 - Lifestyle (56407 active)
-Apps will CONTINUE to grow, and this is just ONE market place

-New market places are coming out all the time

-New competitors and opportunities for profit (Microsoft Surface Just announced.
Blackberry 10 Device coming out in the Fall. New iPhone planned along with new
Microsoft Windows 8 OS which will be compatible with both phones and computer
systems, etc.)

-On average you can expect that an app will bring in about $1000-$5000/year for a non-
popular app if placed in various markets. Most decent apps however bring in much more

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than this. Imagine that combined with MULTIPLE apps and various revenue streams
such as In App Advertising and In App Purchases.

-This is no longer a FAD
All our technologies are getting smaller and more mobile.
Software will be required for all these new devices coming out. Before it would be "Do
you have a website for your business?"...Now comes the time of "Do you have an app
for your business?"





-Various forms of App Business Models:

-App Developer to MASS CONSUMERS

-App Developer to Other APP DEVELOPERS (Becoming a development house)

-App Developer to Business Owners (Focusing on business apps only)

-App Developer via Job position (6 Figure Minimum Job!)


NOTE: Depending on what you choose, you may have to agree to non-compete
laws and regulations. The best (but hardest way) to get in is App Developer to
MASS CONSUMER. The other areas require more legal aspects and contracts in
place such as NDAs or non-compete contracts.

-When starting out, don't make every app idea that everyone suggests to you and also it is
highly recommended to start off SMALL.

2. The First Steps

Step 1. Choose a business model and Company Name:

-Sole Proprietor

-Corporation

-Company Name

Step 2. OPEN THE BUSINESS


HOMEWORK 1:

-This week you will be required to go and do what is required to open that
business. This will cost you between $60-$2000 depending on which type of
business (from Step 1 above) you choose to open.

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Step 3. Setup Bank Accounts


HOMEWORK 2:


-This week you will be required to open up 2 bank accounts at a bank you trust
ONLY AFTER you have created your company in Step 2 above. FOR THOSE
RESIDING IN THE UNITED STATES, YOU WILL ONLY NEED ONE
ACCOUNT! I recommend having a separate account for your business. This
however is not a requirement if you are going to be an individual developer, you
would just deposit checks into your personal account, but it could make your
accounting numbers very confusing. As for corporations, you will need to have
separate accounts.


-Setup THE FOLLOWING Bank Accounts


-USD Account (Both US and International Developers)


-CAD/International Account (International Developers ONLY)

Step 4. Determine WHAT platforms you are planning to develop for



HOMEWORK 3:


-APPLE development:


-Buy a MAC (Between $500-$1500 USD)


-We will create all the developer accounts LIVE in Course 2 Tomorrow

-GOOGLE ANDROID development:


-Can work with a PC. If you don't own a computer then BUY a computer
this week (Between $200-$800 USD)
-We will create all the developer accounts LIVE in Course 2 Tomorrow

-INTERNET


-Purchase a steady internet connection (Approx. $50/month USD)

-TESTING DEVICES (Optional, but HIGHLY recommended)


-Require an Apple device for all Apple apps


-Require an Android device for all Android apps

Step 5. Setup MAIN Outsourcing Website Accounts


LIVE SETUP:

A. Outsourcing Overview


Pros:



-Time Saving



-Automation Creation (Will be discussed in a future bonus course)



-Considered as a subcontractor, no requirements to worry about
local tax laws for employment fees, pension plans or other fees.


Cons:
-Language barriers (Not English barriers, but TYPE of English
used or style of English used. Ex. When I first met Amit, he said

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the word QUERY in the form, "Sir I have a Query"...Took me a
while to realize, that meant, "Sir I have a QUESTION". Little
things like this can complicate things, even though we both are
speaking English)
-Understanding barriers (You may say you want a ladder, but the
person on the other side may understand that you simply want to
be higher and develop something to increase your height)



Considerations:
-Many of the contractors and developers are from EASTERN
countries, the two most prominent ones being India and China.
Others also include the Philippines, Vietnam and several other
European and Asian countries.
-Not all contractors are blessed like we are in North America with
24x7 power. Be AWARE of this! There may be times that there is
just no way for a contractor to come online due to power outages.
Sometimes this happens 2-3 times in a day!
-Not all contractors are blessed with 24x7 High Speed internet.
In fact, you'll see times of slow speed as internet is shared and also
times where internet is just off and cannot be connected to.
-LOCAL politics and local issues: Sometimes other things can
happen, such as local terrorist attacks or other issues. Don't be
alarmed if your work is not done on time. You may hear about
CURFEWS and contractors not being allowed out of their homes
depending on where in the world they are and hence not being able
to get the work done.
-Local FESTIVALS AND RELIGIONS: In North America we
only get such a small limited amount of holidays and festivals. In
other parts of the world, they get MANY MORE! Knowing
various world religions or the religions and customs of your
contractors can help you in many ways. Planning this into your
development time is a fact that must happen.
-TIME considerations: Time zones differ, and change based on
Daylight Savings time as well based on where in the world you
are. It is not uncommon to be sleeping only to have a contractor
doing work at that time.
-The GOLDEN TIME is from 10pm EST - 12pm EST. During
this timeframe, most Asian and European countries in which you
will be outsourcing your work to will usually be available and
awake working.
-NDA agreements and Outsourcing Agencies: This is a grey area,
even though there are laws in place and things in place, LEGALLY
catching an individual is hard and costly. Dealing with Agencies is
a better approach, however the catch here is that they usually tend
to get really busy and you end up getting less quality work out of
them because they are dealing with too many client projects at the

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same time. Finding the right BALANCE between this can be a
challenge. Finding a developer you can trust is even MORE of a
challenge.
-Micro-Service outsourcing is a better approach. This is useful for
things such as icons or simple marketing and promotion.

B. oDesk setup (Major Service Outsourcing)


-Setup of oDesk Account

C. Fiverr.com setup (Micro-Service Outsourcing)


-Setup of Fiverr Account

END OF COURSE 1.

COURSE 2 will continue tomorrow at 12 pm EST ($49 USD) and we will be setting up
your actual developer accounts as well as all the software you will need for this business.
You will require your credit card to setup developer accounts, and the software you will
walk through step by step as we download and setup LIVE on our individual systems.
This will be VERY interactive. Once again space is limited to only 200 people so please
let others know so that they can get into the course ASAP!

LINK TO COURSE 2 REGISTRATION:

http://www.anymeeting.com/AccountManager/RegEv.aspx?PIID=EF51DC82894A

Starts June 24th, 2012 @ 12 PM EST

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NOTES AND DISCUSSION

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