The Top 10 Best Apps for Entrepreneurs

The Top 10 Best Apps for Entrepreneurs

Entrepreneurs make up one segment of the population that has benefitted greatly from the mobile app revolution. Specifically, apps provide a multitude of tools entrepreneurs can use to be more efficient and productive. Furthermore, apps can also help entrepreneurs make money. Because we pride ourselves here at Flippa as being a hotbed of entrepreneurial activity, we thought it would only be fitting to put together this list detailing the top 10 best apps for entrepreneurs in 2015!

Top 10 List: The Best Apps for Entrepreneurs in 2015

1. Flippa

Best Apps for Entrepreneurs #1: The Flippa App

Okay, we’re obviously a little bit biased here, but as The Entrepreneurs Marketplace we think Flippa deserves a spot on the list of best apps for entrepreneurs! Interested in buying and selling web businesses, domain names, and smartphone apps? Download the Flippa marketplace app and get access to thousands of auction listings at the touch of a finger. The app uses a simple scroll feature and allows you to view details, watch a listing, and bid right from your phone. Join a community of over 600,000 entrepreneurs on Flippa and start making money online today!

Download the Flippa App for iOS Devices
Download the Flippa App for Android Devices


 

2. Venmo

Best Apps For Entrepreneurs #2: Venmo

Say goodbye to payment processing. Venmo is a completely free money-transfer app that allows users to send payments from one person to another. It links to your phone’s contacts and Facebook network, making it easy to search and send money to coworkers, employees, clients, partners, family and friends. Venmo has no limit on the amount you can transfer and unlike PayPal, has no transfer fees or long forms to fill out.

Download the Venmo App for iOS Devices
Download the Venmo App for Android Devices


 

3. Mint.com

Best Apps For Entrepreneurs #3: Mint.com App

It’s no secret that Entrepreneurs know how to manage their money and track their finances, but Mint makes the task so much easier. Mint is a free app, designed to allow users to report expenses, create budgets, and implement a savings plan, all from your phone.

Download the Mint.com App for iOS Devices
Download the Mint.com App for Android Devices


 

4. Pocket

The Best Apps For Entrepreneurs #4: Pocket App

True entrepreneurs are always on the hunt for new ideas, reading anything and everything they can get their hands on. Pocket is a great bookmarking app that can save a variety of content—-from lengthy articles to work-related documents. Pocket can even the latest viral cat video if you so choose. Anything saved can be accessed offline, across all your electronic devices.

Download the Pocket App for iOS Devices
Download the Pocket App for Android Devices


 

5. WinStreak

The Best Apps For Entrepreneurs #5: WinStreak App

Productivity is key to becoming a successful entrepreneur. WinStreak is a great, free productivity app that makes you create three “wins” you want to achieve everyday and three more wins for the next day. A win, of course, is just a goal that you want to accomplish. It makes goal setting extremely easy and keeps your goals within reach.

Download the WinStreak App for iOS Devices
Download the WinStreak App for Android Devices


 

6. Google Drive

The 10 Best Apps For Entrepreneurs #6: Google Drive App

Google Drive is a great file sharing/hosting app. It allows you to save all your important files in one place and is easily accessible through any electronic device. You never have to worry about losing your files as it is cloud-based and saves documents as you go, when working from within the app. Entrepreneurs can easily share files to co-workers, employees, partners, or clients.

Download the Google Drive App for iOS Devices
Download the Google Drive App for Android Devices


 

7. SignEasy

The Best Entrepreneur Apps #7: SignEasy App

No entrepreneur has the time to print, sign, scan, and re-send documents on a daily basis. The SignEasy app removes that daunting task altogether by allowing you to sign and resend documents right from your phone making it a lock for the top ten list of best apps for entrepreneurs. All you have to do is open the document within the app, click “sign,” and you’re able to sign with you finger. SignEasy helps get the documents that need signing back to where it needs to go, in a much more efficient and timely manner.

Download the free SignEasy App for iOS Devices
Download the free SignEasy App for Android Devices


 

8. Prismatic

The Best Entrepreneur Apps #8: Prismatic App

Prismatic is a real gem for entrepreneurs who are active readers. This app creates a custom feed based off your interests. Sounds normal, right? Think again. Prismatic crawls everything you link it to, including your social networks. The app analyzes your posts, your network’s interests, your bookmarks, and then aggregates all the data into one specifically designed interest culminating in the presentation of all of the content you may be interested in, in one central place – at your fingertips.

Download the free Prismatic App for iOS Devices
Download the free Prismatic App for Android Devices


 

9. Fleksy

The Best Entrepreneur Apps #9: Fleksy App

Fleksy is great for entrepreneurs who are so busy, that they can’t even spare the time to look at their phone while texting. Literally. Fleksy is a keyboard extension that allows users to customize their phone keyboard, including text size and color. It uses gesture-based movements with word suggestions and keyboard shortcuts to allow users to type and swipe without ever having to look down at their phone. They even have a scoring system that tells you how well you can text without looking.

Download the Fleksy App for iOS Devices
Download the Fleksy App for Android Devices


 

10. Pocket Analytics

The Best Entrepreneur Apps #10: Pocket Analytics AppPocket Analytics consolidates all your website(s) analytical data into one easy to view and read app. This is ideal for on-the-go web entrepreneurs because it allows you to quickly access your sales and traffic data from third party analytics, right from your phone. It is fully customizable, allowing you to select easy-to-read graphs and view the information you want through a drag and drop feature.

Download the Pocket Analytics App for iOS Devices
The Pocket Analytics App is not available for Android Devices

So there you have it, the top ten best apps for entrepreneurs in 2015! Did your favorite apps make the cut? Let us know in the comments below!

Why you should list your app auction with no reserve

Why you should list your app auction with no reserve

At the heart of every business transaction are people. If you want to derive the most value from your Flippa auctions, keep that in mind. People—more than technology, or platform, or strategy—power auctions.

The following is a guest post by Austin L. Church, of Bright Newt Apps and seller of Complete Apps Business (21 Apps)!


I’m now using Flippa myself to sell my entire app business, and I’d like to share an insight gained from two recent Flippa experiments. I listed one game called Copycat Echo with a starting price of $1 and hidden Reserve price of $383. That was my breakeven price because I had paid $349 for a premium listing with extra promotion. I also listed Ugly Selfie Booth, a photo booth app, at $1, but the second auction had no Reserve Price.

Both auctions had a successful conclusion with prompt payment from reasonable, honest buyers. Here are the exact numbers:

  • Copycat Echo – $1650 // 9 bidders // 18 comments // 63 watchers // 1,880 views // 11 discussions
  • Ugly Selfie Booth – $3050 // 15 bidders // 12 comments // 85 watchers // 3,456 views // 8 discussions

Ugly Selfie Booth brought in $1400 more than Copycat Echo. Why is that? Is there more demand for photo apps than games? Recent revenues for both apps weren’t all that impressive, but both are well-designed. This isn’t a true, apples-to-apples comparison, but I can tease out one important insight valuable to other Flippa sellers.

Setting a Reserve Price can hurt your auction.

I’ve done over 100 eBay auctions over the past decade, and with auctions powerful emotional drivers comes into play. Anyone who bids on a No Reserve auction knows that he or she can in fact win the auction and get the stuff. In the opposite Reserve Price scenario, a person can place the highest and still not win the stuff.

By protecting yourself with a Reserve Price, you actually transfer the risk to the bidders. Bidders can put time into an auction, and walk away with nothing. They can beat their competitors and still not win the game. Where’s the fun in that?

On the other hand, by opting out of a Reserve Price and by taking on the risk myself, I can minimize risk, and convert more visitors into watchers, and more watchers into bidders.

Bids; not Reserve Prices, drive up final auction value. Bids allow the market to determine the price, and my experience with over 100 eBay auctions has taught me that the market usually sets a higher price than the seller. Why? Because people get emotionally attached to auctions. After placing the highest bid on an auction, buyers begin to feel like the auctions is now “theirs.” They form an emotional attachment.

When an interloper subsequently outbids the former highest bidder, his or her competitive instinct (and a tinge of anxiety) set in: “I now have to get back what is rightfully mine.” More bids push the price higher and higher.

That’s why I made the choices I did with this Flippa auction. Auctions with no Reserve Price and a low starting bid tap into all those emotional drivers: competition, fear of missing out, protecting one’s property. Without a Reserve Price as a barrier to entry, an auction can attract more page views, convert more viewers into watchers, and gain a much larger pool of potential bidders.

Sure, auctions have inherent risk. Someone *could* win your stuff for a rock-bottom price. But no matter what you decide, remember this: People power auctions.

New – Buy and Sell Android Apps on Flippa

New – Buy and Sell Android Apps on Flippa

We launched the Flippa iOS apps marketplace in 2013, and since then over $700k in app sales have taken place on our platform.  This is about to expand even further because:

Now it’s possible to sell Android apps on Flippa too!

Wondering how to get started? Simply follow the steps below.

1. Start an App auction
It’s super easy – and free – to create an Android app listing for sale. Simply go to flippa.com/sell and follow the step-by-step instructions. If you need a bit of help, get in touch with our helpful support team.

2. Sell your iOS/Android app package
When you create an iOS or an Android app listing, you can now identify whether you are selling both together, as a bundle.

Want to buy your first Android app?
Great! We have heaps of Android apps already. To start shopping, simply check out our Apps marketplace now and filter by the type of App you’re looking for. There’s already some amazing opportunities.

While we’re talking about Android Apps, we’ve just released the Flippa Android App. Download it now here.

 

Flippa 101: Managing Your App, Domain, & Website Auctions on Flippa

Flippa 101: Managing Your App, Domain, & Website Auctions on Flippa

Flippa 101 is a series of articles on how to get the most out of Flippa. Check out the previous article on pre-sale preparation.

Conducting an auction properly gives you the opportunity to improve the final auction price and set up a smooth transition of the business to the buyer.

Communications

Buyers are more likely to bid and bid higher if they trust the seller.

Communication tips:

  • Be honest and transparent. Provide clear, factual answers to questions.
  • Monitor messages and comments closely so that you can answer as quickly as possible. If you provide fast responses during the auction buyers will trust you to be timely and helpful after the auction.
  • Be completely professional. Always respond graciously even when questions are repeated, uninformed or rude.
  • Responding to private messages is an opportunity to build relationship with potential buyers. This personal messaging can increase a buyer’s desire to do business with you.
  • Keep all communication on Flippa. While users may ask to talk on email or services like Skype, this means Flippa’s support team won’t be able to monitor communication or check back if something happens during the auction or the transfer of ownership.

Accepting Bidders

The first time a person makes a bid, you will have an opportunity to approve the bidder. It is a good idea to look at the profile of each bidder before you accept or reject them. Their profile reveals their history on Flippa.

Note, you will not be able to see the amount of a new bidder’s bid until you’ve accepted them. After you accept them, they can make future bids on the auction without any action on your part.

You may send a private message to anyone who has bid on your auction. It is good practice to send an initial message thanking them for the bid and offering to answer any specific questions they may have.

Keeping Buyers Engaged

Sellers that stay active during the auction attract more bidders and come away with a higher price.

Tips for engaging in the auction:

  • Add attachments showing updated sales and traffic information.
  • Comment on the auction providing additional information or clarification.
  • Via private message, ask the more serious buyers what they are concerned about and what they like about the website you are selling. Respond to their concerns and address the potential objections in public comments if appropriate.
  • Purchase a promotion like a homepage listing or twitter blast to attract more bidders.
  • Contact bidders who have not been actively communicating.

Sales Contracts

You or the buyer may want to use a sales contract to make sure all of the conditions of the transaction are clearly communicated and enforceable. Flippa provides a sample contract of sale or you may use your own. If you use Flippa’s document, make sure and read it first, and add any specific items that are included in your website. This may be inventory, post-sale assistance, documentation, or anything else you have agreed to provide to the buyer or the buyer has agreed to provide to you.

Content supplied by Jeff Hunt.

 

How to Buy a Mobile App

Screen Shot 2014-03-17 at 1.39.50 pm

Not sure where to start with buying apps? That worry stops now. 

Buying apps is a simple process, however there’s a common misconception out there that it’s harder than buying a website or domain. Just as well buying an app is easy because iOS apps have been on an upward growth trajectory ever since the concept was first introduced. There have been 1.5 million app submissions to the iOS App Store, and that number just keeps growing. With the recent blockbuster app acquisition of Whatsapp by Facebook for $19 billion dollars, it’s small wonder more people want to get into the app race.

If you feel like you’ve been missing out on the action, don’t worry. It’s never too late to get in the game, and with Flippa’s app auctions you too can buy your own app!

However, before you get all click-happy and start bidding on apps, there are a few things you should know to ensure you make the right investment.

Pick your niche

Apps are not the passive moneymaking machines that some sellers claim them to be. There’s a lot of work involved in building them, marketing them and maintaining them. Of course, since you’re buying it from someone else, it’s already built (hopefully) and some marketing has been done, but there’s still more work for you to do.

Keeping this in mind, it makes more sense for you to acquire an app that aligns with your experiences and interests. You’ll be more likely to put in the work required if you actually like your app. For example, if you like games, or if you have worked with a game dev studio, you’ll be better served by looking at game apps instead of business apps.

Pick your stage

Sellers will either sell their app when it’s in its infancy or when it’s past its peak. It doesn’t make sense, from a rational economics standpoint, for them to sell while the app is still on a growth trajectory. Of course, we aren’t all completely rational, so if you find an app like this, you should give it some serious consideration.

In general, you’ll either find apps that either generate little to no revenue, or that generate a fair amount of revenue but are on a flat or declining curve. The two stages have different risk profiles; so pick the one you’re comfortable with.

For apps that are still at an early stage in the lifecycle and have little to no revenue there’s a higher risk involved. You don’t know whether this app can grow to the point where it makes a good amount of money. The seller might be selling it because he/she doesn’t think it can grow, or because he/she is just tired of working on it.

If you’re comfortable taking on this risk, and you think you can generate money with the app, then it’s a good idea to buy. Apps in the early stage will generally sell for a lot less on account of not generating money, so you can get in with a small investment. This will give you a very good ROI.

Apps that are at the late stage of the lifecycle will sell for more because they generally make more money. The good thing is you know there’s a market for this app, so the risk is lower. However, you’ll probably be buying it while revenues are declining so you’ll need to engineer a turnaround to protect your investment.

This means a lot of marketing work. It’s possible the seller just got tired of continuously pushing the app and so let its revenues fall. With a new marketing campaign in place, you can pull things back. If you’re creative, you can add a few new features and upgrades and increase revenues that way. There might be untapped revenue streams that you can take advantage of.

Do the due diligence

Now it’s time for you to narrow down the choices on the Flippa app auctions page based on the above criteria. This doesn’t mean you can get to bidding straight away. You’ve got to do the due diligence to make sure the app is worth acquiring.

The first thing to do is look at the numbers. Hopefully the seller has added an analytics layer to the app. Dig into this and learn about how many downloads it has, what its rankings are, whether it’s engaging, and how much money it makes. For more information on what to look out for, have a look at our lazy guide.

You also want to actually use the app and see how it works. Download it and sign up for it. Go through the app carefully, play around with it, and note down what you like or don’t like about it. Try to find out if there are any bugs or if the app crashes. The analytics platform will also have some information about this.

In fact, go a bit further and do some user testing if you think the app has potential. Get your friends to use it and document the user flow and engagement. Find out if they like it and ask them if there are any features they’d like to add to it.

Finally, do some research on the seller. Flippa has a seller profile where you can see if there have been any past successful app sales. Make use Flippa’s messaging services and don’t be afraid to ask questions about the seller and the app.

Determine the costs

The last step is to calculate your total ROI and figure out if this is worth it. Your initial investment is not just the auction price; you’re also going to be putting in more money to develop and design the app if needed.

For example, if you’re not a developer and if the app needs some major redesigns or additional features and bug fixes, then you’re going to have some up-front development costs. Add this to the final auction price to get to your initial investment.

Then, there are going to be ongoing costs for maintaining and marketing the app. This will cut into your bottom line, especially if you need to hire people for this. If you can estimate revenue growth and monthly costs, you can come up with a ballpark figure for monthly profits.

With your total initial investment, and your projected profits, you can calculate a realistic ROI. How much time will it take for you to make back your initial investment? If it takes a year and you’re comfortable with that, then go for it. Otherwise, look at another app.

TLDR

Apps require a lot of care and maintenance, not to mention marketing to stand out from the crowd. They aren’t passive income vehicles. If you want to buy an app or two and get into the app game, get ready to put in some work. Start by heading to the app auctions on Flippa and looking at niches that interest you.

Figure out what stage the app is at and look at the analytics associated with it. Play with it, talk to the seller, and do the general due diligence. Once you’ve found a good app, calculate your ROI and determine if you should bid on it.

Good luck!

Now it’s time to view some of our top app auctions live now on Flippa! 

 

Sellers can also look at our guide to selling apps by clicking here!

(Thanks to Joe for the photo)

How To Sell a Mobile App

Screen Shot 2014-02-19 at 4.59.25 pm

Selling an App is still a new business, after all it was only last year that Apple let developers sell apps. Today, the App marketplace is growing each day and we wanted to give you an explainer of things to think about when selling your app.   – TC

You can get lost in the iTunes App Store. You could literally spend hours, browsing through different apps, looking for the coolest new game to play or a slick productivity tool that you hope will help you be more productive (while you continue to waste time on the App Store).

How does an app developer survive in this environment? How does one compete when there have been over one and a half million apps approved by the US App Store? It seems like a do or die situation. You either make a hit like Flappy Bird, or you vanish into eternal app store oblivion. Out of the 1.5 million apps that have been approved till date, only 1.1 million are still active.

Well, it turns out you don’t need to let it get that far. Instead of just letting your app die after all the hard work you put in, you can sell it. Maybe you’re a developer and you know nothing about marketing apps, or maybe you just lost interest in your app. Whatever your reasons are, you might as well get something out of the app instead of letting it die.

That’s what an app marketplace is for. You may not want your app anymore, but there are others out there willing to pay you. It’s really a very simple process, but before you actually do sell your app there are a few things you need to cover to make sure your sale is a success.

Information

The most important part is getting your information ready. Seriously, put some effort into this. When you’re setting up an auction on Flippa fill out every single field – the description, the niches, the financials and the metrics. The more information you provide up front, the better. Talk about why you built the app, what it does, how it’s monetized, your ideas for how it can grow, and current app statistics.

Yes, this means you need to have analytics installed for your app. If you don’t have analytics installed already, then maybe you shouldn’t be in the app or Internet business. But that’s another topic for a later day. Get it installed right away. There are a number of analytics tools out there including the free Google Analytics, and they can be installed in a few minutes.

Analytics gives potential buyers greater insight into the workings and the potential of your app. Just telling buyers you have so many downloads is not enough. They want to know how many times people use your app per day, how often people use it, how long they spend on it, and so on. This will help them figure out if your app is a good buy for the price you’re asking.

Valuation

Which brings us to valuation. Of course, you want to sell your app for as much as possible and buyers want to buy it for as little as possible. That’s why Flippa uses an auction system, so that eventually the app gets sold for what the market thinks it’s worth.

You can choose to simply sell your app at the auction without adding a reserve or BIN price. Buyers will look at all the information you’ve provided, make their calculations, and bid based on their valuations.

However, adding a reserve and BIN has its advantages. The reserve will make sure you don’t sell your app for too low. It would be quite unfortunate if someone snagged it for less simply because not many people knew of your auction.

The BIN can speed up an auction and, if you play your cards right, you can even get more than what the app is worth. Let’s say your auction is seeing a lot of activity and bidding. It’s going to be up on the front page of Flippa and attract a ton of potential buyers. If you set up a BIN with a bit of a premium, an interested buyer might just decide to buy it right away instead of risking losing the auction to another bidder.

Setting the right reserve price and BIN can make or break your auction. Too high and buyers get turned off. Too low and you lose out. As the owner of the app, you’re more likely to overvalue the app and set high prices. Too many auctions end up unsold because sellers thought they should get paid for all the hours of work they put in.

Buyers don’t care about that. What matters to them is revenue combined with engagement and popularity. If the app makes money every month, and it gets steady downloads and sees regular use, you can get a good multiple on it.

Pull out an excel sheet and chart the monthly revenue for your app going forward. The valuation of your app would be the present value of all future earnings. If have decreasing monthly downloads, which translates to decreasing revenues, then calculating this is pretty straightforward because revenues will eventually converge to zero.

If you have increasing downloads, then it’s probably not the best time to sell but if you’re set on it, then you can tag on a growth multiple. This is tricky because it’s hard to predict for how much longer downloads will keep growing. A good indicator would be app engagement, which can accelerate or decelerate growth depending on whether it’s high or low. Again, you’ll most likely overestimate future growth while buyers will underestimate it.

Finally, if you have no revenue at all then you’ll definitely have a lower valuation. What you can do is come up with some monetization ideas for future buyers, and then place a dollar value for every download based on those ideas. You could use the total dollar value as your valuation.

Selling your App

Now that you’ve created your auction and set up reserve and BIN prices it’s time to market and sell. While Flippa has a good system for showcasing auctions, it doesn’t hurt to tell your friends, colleagues and clients about it. The more eyeballs you get on your auction, the more bids you can receive.

Just make sure you’re responsive. Potential buyers always have questions about things you may not have addressed in your description. If your auction is popular, you’ll be flooded with comments and messages. Make sure you address each and every one. A seller that ignores concerns and questions is usually seen as dodgy.

You’re ready

So now you know what needs to be done. You’re in a better position to sell your app and hopefully make a pot full of gold. Keep this guide open while you set up your auction and remember to be active and responsive while the auction is running. If you have any questions, feel free to ask in the comments section!

Thanks to Jan for the photo!