Apps with Patrice Archer from Appy Ventures
Patrice Archer is CEO of Appy Ventures which helps organisations develop apps. He is a startup maestro. With 10+ years of experience in private equity financing and another 8 years building businesses, he is an impressive guest. Patrice specialises in UX, commercialisation and finding how you can benefit your market with an App. Kevin and Graham experienced first-hand how Patrice is a lateral thinker. He sees the opportunities other people miss.
Patrice didn’t think too long about naming his company. He says it’s like naming a child. Don’t overthink it! So Appy Ventures was borne. The company serves businesses looking for web and mobile apps.
Kevin dryly said you could very easily put an H infront of Appy to make it Happy Ventures! It’s how his mind works.
Find out more about Patrice’s website – go to https://appyventures.com
Why Do People Need Apps?
With a deep understanding of something, the app can better serve a target audience. Here’s what Patrice said:
Meanwhile, Patrice loves to help people at any stage of their development. Yes, they may be putting together ideas for a fundraising round, as an early stage start-up, but by helping them now it helps them VALIDATE a concept.
How to validate a new idea?
Create wire frames representations with a little graphic design of your app. Get feedback.
It’s that rule again! Thinking about validation, if you ask 5 people what they think, without leading questions. All you want is their thoughts. With just 5 people, you get 80% of the feedback as you would from a 1,000 people.
So, put yourself out there. Patrice says it might be uncomfortable. The app idea is yours. You live and breathe it. Get the feedback, then iterate. Then go ask 5 more people. That’ll give you a real solid understanding of what they think the app will do.
On top of that, Patrice says do something called a “Lean canvas”. That phrase was new to Kevin and I – but not the explanation! FROM GOOGLE – What is a Lean Canvas? Lean Canvas is a 1-page business plan template created by Ash Maurya that helps you deconstruct your idea into its key assumptions. It is adapted from Alex Osterwalder’s Business Model Canvas and optimized for Lean Startups. It replaces elaborate business plans with a single page business model.
What’s covered on the 1-page Business Plan?
- Problem you are trying to solve?
- The market?
- Who are the users that are going to be using this?
- Costs and revenues
- What is your channel to market as well?
So, with the prototype, some research and this 1-pager, you need to ask the question – is this a business?
Apps for the Affluent Market
Patrice provided a drinks investment app example. Kevin referred to our podcast with Dominic Brennan who runs Noble Rot, a fine wine investment opportunity. We briefly discussed costs, and Patrice mentioned that the cost of a prototype is usually in the low thousands. After that there is a build or phase one. And that costs tens of thousands.
How NOT to Market and How To Market an App
Patrice recommends pre-selling to influencers.
When it comes to influencers, listen to our podcast episode 319 with Sedge Beswick.
Graham mentioned a colleague who works as a Marketing & Events Co-ordinator for the Friends of Silsden Town Hall.
Her name is Mehrunnisa and here’s a link to her Instagram page (not that she needs more followers!!)
Patrice mentioned a client who has 170,000 well-engaged followers on Instagram to build a business off the back of that.
How to Keep People Engaged with Your App
How do you keep people engaged? What strategy do you have for push notifications and emailing strategy.
If you are interested in Patrice’s preferred app:
Testimonial for The Next 100 Days Podcast
The Next 100 Days co-hosts…
Finely Fettled helps organisations that want to market to affluent and high-net-worth customers with direct marketing campaigns and data services. Meet Professionals – Offers large financial advisory groups with 50+ IFAs a white-labelled lead generation and conversion system. Contact Graham: LinkedIn: Visit Graham’s LinkedIn Profile Twitter: Visit Graham’s Twitter Page Email: Email Graham Direct
Kevin is a Chartered Accountant who has worked as a management consultant for several years specialising in finance transformation and implementing business change. Currently, he is the COO of GrowCFO. GrowCFO is Where Finance Leaders Grow Together. Becoming a successful CFO requires commitment and dedication toward delivering your full potential. GrowCFO provides both community and CPD accredited training designed to grow the next generation of finance leaders. You can find Kevin on LinkedIn and at kevinappleby.com