"It takes a lot to decide that you should kill something rather than try to funnel more money into it without having an end-game set up."
Correct. But you may miss out one point: not every innovation or successful apps is able to meet this criteria. I believe as an online app, they've already stretch to its most, even received VC funding in the first place.
Apart from the planning for exit earlier, they are quite successful. Apps have very little room to be profitable due to the high competition. I was in a seminar when the presenter did a survey to count how many people have 5 apps installed: majority. How many people have 20 apps installed? 1. The funniest thing is the "1" said, I barely use my smart phone. Everybody was staring at him, why? He said I like to use computer. :(
When we launched EveryDayDream Holiday as a daily email thing, so many people came out of the woodwork and declared "You should make it an App!"
When I asked all of them (yes, anecdotal) how often they used Apps versus how often they checked email, a large majority replied ... "Yes, but people make lots of money out of Apps."
Not that we made money out of email either, of course.
Yeah, it's like an illusion. Some early apps did make a lot of money out of it though. Now it's like overflooded, and everybody expects free apps for sure.
When they suggested you, they only care about whether they can get it on smart phone. Email actually reaches broader, but just like you said, it's hard to make money either.
So a real business model comes out from intensive marketing research and practice, especially experts always suggest to create a business plan including marketing plan for any business.
Correct. But you may miss out one point: not every innovation or successful apps is able to meet this criteria. I believe as an online app, they've already stretch to its most, even received VC funding in the first place.
Apart from the planning for exit earlier, they are quite successful. Apps have very little room to be profitable due to the high competition. I was in a seminar when the presenter did a survey to count how many people have 5 apps installed: majority. How many people have 20 apps installed? 1. The funniest thing is the "1" said, I barely use my smart phone. Everybody was staring at him, why? He said I like to use computer. :(