[Part 5/5]

How to create an App and its business model: a 10-step guide for entrepreneurs

The most successful Apps are not (just) Apps. They are the front-end to a great business model.

This is the last part of our MBA-level series for Startups & entrepreneurs on how to create a successful App and its business model.

We are focusing on the platform business model which underpins the success of great platforms like Google, Facebook, Snapchat, Pinterest, Uber, Airbnb, Booking.com, TripAdvisor, Expedia, Groupon, Yelp, Amazon Kindle and many others.

If you haven’t read the previous parts, I recommend starting with part 1.

Search / Social platforms

In this series, I am referring mainly to Search and Social platforms (Facebook, Twitter, Snapchat, Google, Pinterest). I call them “Search” and “Social” in these articles.

But the steps apply to other platform business models as well.

Step 9: Monetise on a coherent set of sub-markets

Start-ups struggle to monetise! A typical fallacy is to look at the overall market and dream of riches too soon. We can see from successful late…