Given the prevalent use of mobile phone, is it possible to earn your first million as an appreneur?
Nowadays, most people carry smart phones and download apps. This represent a good opportunity to make good money from making apps. In fact, with the advent of online technology, the entry barrier to develop an app has been lowered. Nowadays, you don’t need much programming skill to develop a simple app. All you need is a good solid idea that has not been developed as an app and is useful in our daily lives.
Every now and then, you would come across articles on wonder kids who became rich from developing apps. Some of these kids were not even 10 years old when they made their first million! So now everybody, whether you are old or young, has a chance to become rich through developing apps.
You stand a much higher chance earning your first million from developing an app than striking the toto or lotteries. And you don’t need to quit your job to become a full time appreneur either. You can develop apps after work and at your own sweet pace.
If you don’t like the process of developing an app but nevertheless would like to own an app, you can engage a developer for help. That would of course cost money and would be a double whammy to your wallet if your app is a flop.
There are developers who are willing to develop free apps for customers who provided the creative idea. In such win-win situation, the arrangement would be profit sharing between the developer and the idea provider. But you need to be careful that the developer might steal your idea. So you should establish an intellectual propriety agreement before you engage a developer. Do you have any experience on developing your own app? Care to share?
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SG Wealth Builder