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Mariapasculli
03-10-2015, 08:03 PM
Hi guys,
I am a new member. I'm studying International Business and I currently need you help. I'm attending a course about Business Planning and our aim is to get an innovative idea for an App and develop its business plan. We don't really have to create the App, it is more like a simulation. We already have the idea but is there anyone here who can help us with the financials? Or do you already have some old business plans (or only financial plans) of other Apps, so that we can have an idea about the development of the financial part? You know, we are just students and that is the motto difficult part. I would like to say that it is just a university homework, nothing serious, it means that your help/suggestions/business plans are not going to leave the room of our faculty, they are not even going to be heard by others but our professor.
thank you very much

Maria P.

Ps: if you want to help us and know more about the App idea, I will give you my Email/Facebook account

Kyle Johnston
03-18-2015, 11:25 AM
Creating business plans CAN be a very valuable part of the learning process Associated with any business. In your case, it appears to be a class assignment. Financials can be the trickiest part of a business plan especially when you don't have concrete numbers to go on (from sales etc). You need to consider the price points other similar apps posses. What are they selling and for how much? What will the marketing efforts be? What mobile platforms will the app be created for? Will you have employees or pay freelancers? A good starting point is to look at a similar mobile app and ask the same questions. What will the purpose of the app be? I may be able to help more.

Mariapasculli
03-18-2015, 01:30 PM
Thank you very much for your reply! Yes, it is actually a class assignment, this means that the financial part should be "believable" but not extra precise...briefly, the idea we created is an app for restaurants which allows people not only to make reservation, but also to specify additional information like the food they want and other general information like ingredients not to be used because of allergies/intolerances/religions and so on, everything thanks to online payment. It is an app destined to restaurants which generally welcome large groups of people (10 or more), in order to ease the management of the activities of the restaurants, to reduce waiting times related to orders and payments and to help people who generally have problems when going to restaurants because of the lack of special "menu care" related to allergies, religions, veganism etc.
We have already conducted different surveys both to restaurants manager and to customers which gave us good feedbacks. Our problem is now to make the financial part (income statement, balance sheet)...for example, how should we assess the value of the trademark or of the know how (intangible asset)? Thank you a lot.

2for1Creditlines
04-23-2015, 03:52 PM
Thank you very much for your reply! Yes, it is actually a class assignment, this means that the financial part should be "believable" but not extra precise...briefly, the idea we created is an app for restaurants which allows people not only to make reservation, but also to specify additional information like the food they want and other general information like ingredients not to be used because of allergies/intolerances/religions and so on, everything thanks to online payment. It is an app destined to restaurants which generally welcome large groups of people (10 or more), in order to ease the management of the activities of the restaurants, to reduce waiting times related to orders and payments and to help people who generally have problems when going to restaurants because of the lack of special "menu care" related to allergies, religions, veganism etc.
We have already conducted different surveys both to restaurants manager and to customers which gave us good feedbacks. Our problem is now to make the financial part (income statement, balance sheet)...for example, how should we assess the value of the trademark or of the know how (intangible asset)? Thank you a lot.



Having worked with commercial software development, first and foremost, before anything else, GET THE DARN APP WORKING!! The difference between guys that ship million dollar software and the ones
spin the wheels for years are end, are simply the ones who know how to finish and ship a software project they start (and even veterans suffer from this). Get a prototype done. Get an Alpha done. get it in beta and release it to a small segment of the public, get feedback and listen very carefully, make changes and re-release, get feedback, (listen to your customers) make changes, re-release and start getting positive reviews.

When you do that, you start having a foundation for a valuable asset. Until then, you're going to just going to be trying to place value on an idea, and those are literally a dime a dozen. The reason why is because professionals know 99% of launching a great idea is WORK. If you have a bad work ethic or you are a quitter, or you don't really believe in the product, or you get bored easily, your idea is worth nothing because it will never exist in real life. Financials and a business plan are important, but only after you actually you have produced something of value. Otherwise it's dreams with no action, which is called hallucinating.

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