Welcome to the sixth online business model on Software & Mobile Apps.
To learn more about this online business model, watch the video below and check out the additional information and resources listed below.
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ABOUT SOFTWARE
Difficulty Level: Advanced
Developing and selling a software online is fairly advanced as there are many logistics involved. It's not recommended for beginners, as previous technical skills and online marketing experience is required.
Startup Costs: $1000+
The average startup costs for a software business start at around $1000, depending on the developer, type, and complexity of the software. There are ways to get a software put together more inexpensively, however, most from scratch can cost thousands to develop.
Avg. Timeframe: 3 months
The average timeframe before someone can realistically expect to make money from a software is around 3 months. It can take weeks or months to develop a software, beta test it, and making available for sale.
Potential: $10,000,000+/year
The potential of a software business is an eight-figure income, over $10,000,000+ per year.
Passive: Yes
Software can be a passive business model and create a passive income stream. However, it's always advised that you never fully neglect your online business as there's always potential changes that can occur online and you'd always want to keep an eye on your business. Software also requires a developer to continually fix bugs and problems that can occur with the software.
ABOUT MOBILE APPS
Difficulty Level: Newbie Friendly*
Mobile apps are newbie friendly, with the right training and guidance. It doesn't require any previous online marketing or business experience. However, without a good training program or guidance, I would consider mobile apps to be more “intermediate” or even “advanced,” as there are a lot more logistics involved in it.
Startup Costs: $500
The average startup costs for a mobile app business is around $500, depending on your mobile app idea and it's complexity. Some apps can cost thousands to develop. However, there are ways to get mobile apps developed inexpensively if you use source codes that are public domain.
Avg. Timeframe: 3 months
The average timeframe before a newbie realistically expects to make money from mobile apps is 3 months. It can take a few weeks or months to develop a mobile app, put together the graphics, screenshots, and make it available on the app store. There is also some marketing and promotion involved in the process as well.
Potential: $1,000,000+/year
The potential of a mobile app business is a seven-figure income, over $1,000,000+ per year.
Passive: Yes
Mobile apps can be a passive business model and create a passive income stream. However, it's always advised that you never fully neglect your online business as there's always potential changes that can occur online and you'd always want to keep an eye on your apps.
FREQUENTLY ASKED QUESTIONS
These are some of the most frequently asked questions that I get about software and mobile apps.
Q: Can I sell mobile apps from outside the USA?
A: Yes, you can sell mobile apps from anywhere in the world.
Q: How can I promote my software?
A: There are many ways to market and promote software, including utilizing search engine marketing, social media marketing, and having affiliates promote your software. It's best to decide which platform or strategy you want to utilize and then focus on implementing that to promote your software.
Q: What is the best way for me to get started with software and mobile apps?
A: The best way to get started with a software or mobile app business is to invest in a good training program. I personally have been through and can recommend The Foundation and App Empire – these are the top programs out there that have helped thousands of people all over the world.
Due to software and mobile apps being fairly advanced without proper training, I would not recommend attempting to get into these businesses without a good training course or without previous experience with internet marketing.
RECOMMENDED RESOURCES
These are some of the recommended resources for software and mobile apps.
AMZ Tracker – This is a web-based software that allows me to track keyword rankings for my products on Amazon, as well as get Amazon reviews with their Review Club.
App Empire – The #1 mobile app training course, created by Chad Mureta, which unfortunately is only available at certain times. You can subscribe here to be notified of when the next release is.
App Empire Book – A motivational book about Chad Mureta's story on becoming an App Millionaire, as well as some great tips on how to succeed in the mobile app business.
AppFollow – An app monitoring, app store optimization platform. It helps you gather and manage your app's data, increase app conversion rate, improve app store rankings, and app user loyalty.
Apple Store Developer – This is the website where you can submit your mobile app to the Apple store.
Blogging, YouTube & Podcasting – Many of the resources mentioned on Video 3: Blogging, YouTube, and Podcasting can be beneficial for software, to help build an audience and promote your software to.
Google Play Developer – This is the website where you can submit your mobile app to the Android store.
Information Products – Many of the resources mentioned in Video 5: Information Products can be beneficial for putting together a website and selling your software from.
JungleScout – This is a web-based software and Google Chrome extension that helps me research profitable products to sell on Amazon.
The Foundation – The #1 software training course that will teach you how to build your own software business online. Thousands of successful students have gone through it.
Upwork – This is a great website where you can find and hire programmers to develop your software or mobile app.
MORE ARTICLES & VIDEOS
Here are some additional articles and videos on software and mobile apps from the blog.