Hi! This is A Minute Of Overpass. My name is Eric and I make apps. Now this week I
want to talk about "How you should finance your app".
Okay, so this week is going to be a really simple one, right? So I want to talk a
little bit about financing your app. So some people have asked me, you know "Do
you take out a loan?"
"How do you actually get the money to get your first app out there
going?" and I have to tell you what I would... the way that I've done. The way
that all of our apps are done.
So everything that's been done for Overpass has been financed by me.
So sometimes, It's been like I work a contract or I work a job to get enough
money to pay for a new app or we might take out some client work in
order to pay for an app, but I've never been a fan of taking out a loan, and
you know, a few years ago I got contacted by somebody on the phone,
possibly a client but it never worked out, but he has been speaking
about he's been speaking with another app company. He wanted to get my second
opinion on it.
So what he had was an idea was... it was like a flappy birds type thing, so I was
in the area of flappy birds and all that stuff, so that everybody was you know
a bit rushing into the market so, what he had told me was that the company, a
London-based company, had told him that he can make thousands per month
up front from his app so all they have to do is take out a loan for like
27,000 pounds or something like that for a flappy birds
type clone, right? and I told him how ridiculous it was like I told him that
was way too much money, and last thing you want to do is take out a loan, right?
So you know because
I don't even....he never left the number so I don't know if he's still
paying it but it scared me to death, right?
It scares me when there's this mentality of easy app money or easy money
and people just rush in and will do reckless things.
So my advice this week is...never take out a loan, right?
What you want to do is because despite how sure thing it is,
despite how fantastic your idea is, despite how great your app is, it's gonna
take a while for people to find it. It's going to take a while for you to promote
it enough and to get it out there and you don't know whether or
not it's going to succeed. You really don't know anything until you release it.
So the best thing to do is...like I said over and over again is to release a small
version first. Get something out there into the market, see how it does, tweak it
a little bit, see how people are using it and then from there you can work
forward. So that's it for this week.
Like I said a very simple one. Never take out a loan to produce your
app.
That's it! I'll talk to you next week. Hey I hope you liked that video. Now if you
did like it I really appreciate it if you click on the like button down below
and if you want to know more about app development, app marketing all that kind
of stuff, now we share everything we learn here, so I make
this video once a week every Friday or try to get it done every Friday,
sometimes it might slip into Saturday but we put this out once a week, so if
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seconds chunks on and snapchats kind of my way of trying to be young and trendy and
all that kind of stuff you know.
so and finally, oh if you can leave a comment that would be awesome,
and I know you don't want to leave a comment. I never leave comments because
you know who wants to leave comments, right? but I'll make it easy for you. All you
have to do is if you like the video, put "Gnarley"
because it's an 80's term and you know I'm a child of the 80's, what can I
say?
If you didn't like it, put "Bogus" and if you didn't think anything of it just put
"Eh", and finally now if you go into the App Store either Google Play or
iTunes,
look up one of the Overpass apps and download it and leave a review, that
would also be something that would be really really helpful because that you
know keep things turning the same way
you want to happen for your app. So that's it. I'll talk to you next week!