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How to Estimate the Value of Your Project?

Published October 26, 2015

As a developer, the project pre-planning is always a nightmare. Since coding comes easy for most of us, fore-seeing the commercial aspects of the project is a prevailing concern for most coders. We hear so many developers raise questions such as how to ensure the commercial success of their apps? While it is a tricky process, there are a few indicators which you can follow to get a better idea of what to expect. These out-liners come in handy for the developers in the process of launching new apps as well as those still in the initiation phase.

Estimate Need: I know that it seems a bit late in the coding process to estimate need but a little research never hurts. As a developer, you need to evaluate and re-evaluate the market trends to check the actual need of your project. You must to analyze the demand for your product as well as the supply which is already available in the market. Based on your research on the competitor apps, you can estimate the need for your particular app. You can also improve on your app’s functionality by looking at the competition.

Action Items: Make a list of changes which can be made in the project to improve the existing functionality. Always remember, uniqueness is irreplaceable.

Use Some Google Magic: Make a list of keywords consisting of the benefits provided by your app. Search these phrases using Keyword Planner on Google AdWords. Check the number of searches for each phrase and list down the relevant keywords. Keep this list of keywords handy and try to tweak the phrases with the related keywords provided by Google.

Action Items: If you see a lot of competition for the keywords or phrases, make a list of competitors and perform a search for each of these competitors. Based on the research, you can again make changes in the list to improve your app’s functionality and offer a unique solution.

Keep an eye out for pricing plans offered by your competitors as well.

Online Communities Search: Developers always listen to developers. So while you are at it, it is recommended to check online communities to foresee the trends and to have a gist of the chatter other developers around the world are making. You can estimate the current trends by checking communities such as Stack Overflow, CodeProject and SitePoint. Even Twitter and Google Communities can be used to gain the required information.

Action Items: Make changes in the keywords list and add new phrases used by other developers.

Estimate Value for Money: At this point, you need to estimate that how much time and effort is needed to code from scratch? Make an estimate for value for money while keeping time constraints in mind. You can look for some quality source code options available to reskin according to your project needs.

Action Items: It is recommended to perform an extensive research and choose the best source code option which is well designed, stable and easy to reskin. At Bright Newt, we pride ourselves at making the best source codes available to developers which can be modeled with a painless reskin process. The source codes are available for both iOS and Android.

To sum up, there are a number of methods and indicators present to estimate the value of your project, product or app in progress but not any of these ensure a 100% success rate. However, these indicators can help you improve your product and make it easy to sell.

Got any additional advice, tips or questions? Let us know in the comments. Happy reading!

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