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Wealth Accelerant Factor (WAF)

Obiwan

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How does one determine the WAF of an App?
I am in the process of developing an App. I have identified the very specific target audience, some two billion people, also, looking at average income by country, I estimate that ±20% have an income > $1600 per month. The App meets a very specific necessity for most in the target audience, I want to attract within the first year 1% of the 20%. I have done some eyeball to eyeball market research, only in South Africa at the present, and in general had a very positive feedback. Also, had some great advice from The Fastlane Forum. I've the spread sheet for the first year and putting together a business plan. It would be a real bonus if I could put the WAF in the business plan, and that brings me full circle to my question; How does one determine the WAF of an App?
 
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theag

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Forget market research, spreadsheets for revenue/profit projections, business plans, WAF etc and stop thinking about how great your future riches will be. Just launch a first version, market the hell out of it and build on that.
 

Mikkel

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Who gives a damn about a business plan. If you're already committed to a business idea, then make it happen. A business plan is great once your business is already up and running, it is also great when you're seeking investors. Unfortunately, not having a single line of code written will not constitue a running business or the interest of an investor.

The journey from nothing, to an app it not usually a straight line. A business plan gives you an idea of what you would ideal like to happen, but we all know that what we expect, should never be expected.
 

AllenCrawley

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I've the spread sheet for the first year and putting together a business plan. It would be a real bonus if I could put the WAF in the business plan, and that brings me full circle to my question; How does one determine the WAF of an App?
Seems like a lot of wasted time and action faking. In regards to your actual question you'd probably find the answer more readily on google. Now, tell us more about this app. :)

Like, are you coding it yourself or outsourcing? When will you have an MVP ready? Does it actually serve a need?
 
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Obiwan

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Seems like a lot of wasted time and action faking. In regards to your actual question you'd probably find the answer more readily on google. Now, tell us more about this app. :)

Like, are you coding it yourself or outsourcing? When will you have an MVP ready? Does it actually serve a need?

Although no one has answered my question I am, nonetheless, most appreciative of all your comments and suggestions. Therefore, I think it is incumbent on me to elaborate my original thread. To answer the last question first, "Does it actually serve a need?", categorically yes.

There are many Apps out there that address "the need" and on investigation there are several that have ten million or more downloads! However, none offer the one function that to me, as a mathematician, would seem to be essential. When I questioned this and demonstrated the effect manually to someone who is very much involved in the target demographic, his immediate response was, "To the politically correct crowd, once you show them this with a live demonstration, it would be obligatory to use it".

To your comment about finding the answer on Google, all my searches end up on "TheFastLaneForum".

Finally, I am not coding the App myself, but outsourcing it. I wrote up the specs for the App and the web page, and as much as I would love to get stuck in to the coding I have to be realistic, I'm too long in the tooth. I'll leave it to someone younger who will do a better job in one tenth the time. I have a philosophy I like to live by, "Let the weavers to the weaving". I do what I'm good at, let others do what they are good at.

However, it is a bit frustrating, I've done all the stuff I can do, and to occupy my time while the App is being written, I busy myself writing up business plans, and yes, to answer a comment by Mikkel, I'm doing this because I need an investor. As part of the marketing plan I want to get endorsements from world renowned sports personalities who are also in the target demographic, and this will require some serious moolah. And as for the WAF, I want an exit strategy.

And final finally, no I'm not going to tell anyone about the App until it's time to launch. There's an old saying, "Trust everyone, but at night lock up your horses", I'm locking up my horses :)
 

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