Ncell organized a training today on business modeling to ease the competing 150 teams of Ncell App Camp in understanding how proper business models can help app businesses to sustain in the market.
Motivating the participants to understand their opportunities at the first place, Sohan Babu Khatri, CEO of Three H Management Pvt. Ltd. highlighted on what it takes to run a sustainable app business. “Just building an awesome app is not going to fulfill your business need, it requires proper strategies to compete in the market,” said Khatri stressing that sustainability should be a key to become an entrepreneur.
“You need to dissect your opportunity in a better way to attract potential investors into your business,” said Khatri who advised the participants to identify opportunities on their own. “If you are wise enough, you make more opportunities than you find,” Khatri suggested the aspiring entrepreneurs to map opportunities to any problem, confusion, chaos, or hunger. “An opportunity can even be positivity about something.”
During the interaction session, participants asked how they could be creative in their businesses. Responding to their queries, Khatri suggested the teams to put themselves into the shoes of their target consumers and do adequate research on their need, behavior and decision making process.
“One way to be creative is to read a lot about your innovation. Great innovations are those that are simple,” said Khatri. He pointed out that failing to see app development as a business, not preparing for the success and not listening to the users’ complaints are the most common mistakes aspiring entrepreneurs often make.
The teams participated in several activities related to business opportunity and value proposition of their future products.
The competitors of the app camp are working parallely on app development and business model to place them strategically in the market. Once the teams receive training on idea pitching on November 21, they will submit a prototype of their final app by December 1. From among the 150 teams, 24 teams – six from each category; agriculture, tourism, education and corporate solutions – will be selected to compete further.
However, all the participating teams of the camp can continue with their projects and place their app in the Ncell app store. The winners of each categories will receive Rs 250,000 and the overall winner will receive additional Rs 500,000 and a chance to represent Nepal in the International App Conference in 2015.