These #3 Successful App Developers Share How They Built User-friendly Apps POSist today has a PAN-India presence in more than 90 cities spread over 5 countries
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Apps are going to rule every aspect of our lives very soon. From offering users a ride to getting their lunch or dinner delivered at home, apps are disrupting the socio-economic reality in a fast and furious manner.
Read on as developers of three extremely popular apps share their success stories with Entrepreneur India.
It is More about Fixing Problems
After working for more than five years with Techno Apex, a company dealing with power SMS, Ashish Tulsian invested in a restaurant business. A year into business and Tulsian understood the tech side of operations. This experience triggered innovation that in due course gave birth to POSist, a cloud-based Point of Sale solutions provider.
"I was on the lookout for a software solution which could automate the restaurants' billing system. The utter lack of such products in the market both stunned and peeved me. I could only see more than 20-year-old companies providing software products for the hospitality and service-oriented sector. It was my inability to find something modern and relevant that I ended up building one six years back," shared the Delhi based app builder.
POSist today has a PAN-India presence in more than 90 cities spread over 5 countries. The app makes half a million bill per day.
Think properly about your model and constantly innovate
Once ideation is done, think diligently about the commercial aspect of your model. Don't solely rely on adverts - rather focus on having a substantial footprint before you can expect users to show any interest. It is also important to keep on growing before you can charge a significant amount of money.
Manavjeet Singh started his career with HDFC Bank, and eventually worked for Citicorp Finance, SBI Mutual Fund, Reliance Capital and Yes Bank. During his 25 years work experience with some of the best financial institutions in India, Singh observed buyer and lender interactions very closely. And while doing so he identified gaps between the requirements of banks and needs of customers. The problems faced by banks and the inconveniences that the customers undergo, made Singh think about a suitable solution.
"The existing market for fin-tech products is exceedingly inept, time taking and vague for both users and financial institutions. Truth is that for every borrower, there is a lender prepared to provide loans. However, the customer is often clueless about the lender. I wanted to intervene right there and thus the idea of Rubique germinated," shared Singh.
Singh's app has witnessed over 400% YOY growth, making disbursement of loans worth over INR 1250+ crore and 31,000+ credit card setups, possible. "We could attain such extraordinary numbers simply because of our constant attempts to implement technology in traditional customs," he divulged.
Find Out your Target Users
Sahil Jain has always been a geek and nurtured a deep passion for building apps. After his stint with an analytics company, Jain decided to come back home and initiate his own enterprise. Just as he was planning his return, OpenTable acquired a competitor service called TopTable for $55 million.
This prompted Jain to work-out on a similar idea as India didn't have such concept, yet. He shared his idea with childhood friends - Ankit Mehrotra, Vivek Kapoor, and Nikhil Bakshi - and Dine Out was launched in 2012. The Dine Out app makes it easy for users to reserve tables, and for the last minute bookings, users can call get guided by specialists for booking a table.
"I primarily targeted the city youth and the age group between 16- 35 years which include college goers and corporate, people who prefer fine dining restaurants and pubs where the cost of food for two is more than 1000 rupees. Interestingly today 55% of our users are female," informed Jain.
Dineout introduced India to the concept of table reservations. Today, it caters to more than 4 lakh diners per month securing their reservation at over 1000 top restaurants across New Delhi/NCR and Mumbai.