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Hey guys, I've read TMF and know what I need to do to get on the right path, just not sure what the vehicle is quite yet.
I've been toying around with the idea of a smart phone app and wanted some candid feedback on the idea. Where I'm right, wrong, if you think the idea sucks, etc.
The App: This would be phone app designed to create a social network for sharing food (mainly pictures). I would really mirror snapchat pretty closely because I would want people to be able to send something directly to another user, not just tag them in a post.
Where this came from: I have tons of friends who are constantly Snaping (snapchat) me pictures of food, posting it on instagram and facebook, or good old fashioned sms picture messaging. I like the idea of them sending me pictures of really good food, but get a little annoyed about it on these channels sometimes, i'd rather see it when I knew it was going to be food or that's what i was looking for, hence the dedicated app.
Need: People love the ability to share their experiences (restaurants, cooking with spouse, dinner parties, etc.) so having a dedicated place where that was the primary use would fill a void.
Entry: Given there are over 1.2million apps in the apple app store, entry seems too easy, but i think if you filter out all of the absolutely garbage apps that required no time or money, that number is significantly small and I could argue that there is enough barrier to entry to compete here. Also, there are probably 10 or so apps that could potentially compete directly and I can deal with that.
Control: Other than having to comply with the app store rules, I would have complete control over the design, features, ads, etc.
Scale: This is an advantage of an app with exposure to the smartphone user base, the potential users is huge. My target audience would be 13-35 years with a smartphone, which covers very large number of people.
Time: I see this as taking a few years to build up a decent user base and hopefully having the functionality to go viral. Eventually this would completely separate time and money.
How this turns into a business: I wouldn't want to inundate users with ads that would turn them off to the idea. I would want to build a user base of people just sharing pictures and eventually get it to a place where small restaurants could use it as an advertising platform. Users could share photos of food prepared by restaurants and then tag these restaurants, thus promoting a great experience. It would be a free app to users and I would monetize the business from restaurants. My value proposition for users would be that they benefit from having a specific place to share and be shared with, food, recipes, etc. For restaurants, the value would be exposure to an enormous group of potential customers for a very small fee. Most small restaurants have very little advertising budgets, so they want to get as much bang for their buck as possible. This app would give them exposure to people who would only be on the app to look at food, probably hungry, and probably gives the best chance to convert a customer.
I appreciate the feedback. I'm more interested in where I am way off here, so feel free to be very honest.
Thanks!
I've been toying around with the idea of a smart phone app and wanted some candid feedback on the idea. Where I'm right, wrong, if you think the idea sucks, etc.
The App: This would be phone app designed to create a social network for sharing food (mainly pictures). I would really mirror snapchat pretty closely because I would want people to be able to send something directly to another user, not just tag them in a post.
Where this came from: I have tons of friends who are constantly Snaping (snapchat) me pictures of food, posting it on instagram and facebook, or good old fashioned sms picture messaging. I like the idea of them sending me pictures of really good food, but get a little annoyed about it on these channels sometimes, i'd rather see it when I knew it was going to be food or that's what i was looking for, hence the dedicated app.
Need: People love the ability to share their experiences (restaurants, cooking with spouse, dinner parties, etc.) so having a dedicated place where that was the primary use would fill a void.
Entry: Given there are over 1.2million apps in the apple app store, entry seems too easy, but i think if you filter out all of the absolutely garbage apps that required no time or money, that number is significantly small and I could argue that there is enough barrier to entry to compete here. Also, there are probably 10 or so apps that could potentially compete directly and I can deal with that.
Control: Other than having to comply with the app store rules, I would have complete control over the design, features, ads, etc.
Scale: This is an advantage of an app with exposure to the smartphone user base, the potential users is huge. My target audience would be 13-35 years with a smartphone, which covers very large number of people.
Time: I see this as taking a few years to build up a decent user base and hopefully having the functionality to go viral. Eventually this would completely separate time and money.
How this turns into a business: I wouldn't want to inundate users with ads that would turn them off to the idea. I would want to build a user base of people just sharing pictures and eventually get it to a place where small restaurants could use it as an advertising platform. Users could share photos of food prepared by restaurants and then tag these restaurants, thus promoting a great experience. It would be a free app to users and I would monetize the business from restaurants. My value proposition for users would be that they benefit from having a specific place to share and be shared with, food, recipes, etc. For restaurants, the value would be exposure to an enormous group of potential customers for a very small fee. Most small restaurants have very little advertising budgets, so they want to get as much bang for their buck as possible. This app would give them exposure to people who would only be on the app to look at food, probably hungry, and probably gives the best chance to convert a customer.
I appreciate the feedback. I'm more interested in where I am way off here, so feel free to be very honest.
Thanks!
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