{"id":1398,"date":"2016-02-25T09:29:29","date_gmt":"2016-02-25T17:29:29","guid":{"rendered":"http:\/\/ivwealthreport.com\/Report\/?p=1398"},"modified":"2016-02-25T09:29:29","modified_gmt":"2016-02-25T17:29:29","slug":"entrepreneurship-eye-opening-statistics-for-phone-app-developers","status":"publish","type":"post","link":"https:\/\/ivwealthreport.com\/Report\/2016\/02\/25\/entrepreneurship-eye-opening-statistics-for-phone-app-developers\/","title":{"rendered":"ENTREPRENEURSHIP: Eye Opening Statistics for Phone App Developers"},"content":{"rendered":"<p><a href=\"http:\/\/ivwealthreport.com\/wp-content\/uploads\/2014\/07\/green.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-thumbnail wp-image-704\" src=\"http:\/\/ivwealthreport.com\/wp-content\/uploads\/2014\/07\/green-150x150.jpg\" alt=\"green\" width=\"150\" height=\"150\" \/><\/a><\/p>\n<p>Many of the young entrepreneurs that I encounter, particularly those in university business incubator programs, are expending enormous amounts of resources \u2013 both in time and money \u2013 on developing phone apps. While this is an exciting, and often times, lucrative endeavor; all too often these ventures prove to be more exciting than lucrative! Here\u2019s why. According to Christopher Mims of the <a href=\"http:\/\/www.wsj.com\/\">Wall Street Journal<\/a>, \u201cThe average app loses 77% of its users within three days after it is downloaded.\u201d Moreover, according to Mims, \u201cIn the U.S., 30% of the time when an app is downloaded, a person never opens it more than twice.\u201d My article here is not intended to discourage app development. Quite the contrary \u2013 I try to encourage innovation and new ideas. But, phone app developers need to go into development with their eyes wide open. Here\u2019s another eye opening statistic. According to Apple CEO Tim Cook, as cited by Mims, \u201cFor every iPhone sold, 119 apps have been downloaded\u2026\u201d Yet according to Mims, \u201c\u2026we use fewer than a quarter of those apps in any given month.\u201d What this all boils down to is that the competition for the use of phone apps is fierce. To read the Mims article, go to the <a href=\"http:\/\/www.wsj.com\/\">Wall Street Journal<\/a> and search for the article entitled, \u201cA Few Ways to Declutter Your Phone.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Many of the young entrepreneurs that I encounter, particularly those in university business incubator programs, are expending enormous amounts of resources \u2013 both in time and money \u2013 on developing phone apps. While this is an exciting, and often times, &hellip; <a href=\"https:\/\/ivwealthreport.com\/Report\/2016\/02\/25\/entrepreneurship-eye-opening-statistics-for-phone-app-developers\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,1],"tags":[],"_links":{"self":[{"href":"https:\/\/ivwealthreport.com\/Report\/wp-json\/wp\/v2\/posts\/1398"}],"collection":[{"href":"https:\/\/ivwealthreport.com\/Report\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ivwealthreport.com\/Report\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ivwealthreport.com\/Report\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ivwealthreport.com\/Report\/wp-json\/wp\/v2\/comments?post=1398"}],"version-history":[{"count":1,"href":"https:\/\/ivwealthreport.com\/Report\/wp-json\/wp\/v2\/posts\/1398\/revisions"}],"predecessor-version":[{"id":1399,"href":"https:\/\/ivwealthreport.com\/Report\/wp-json\/wp\/v2\/posts\/1398\/revisions\/1399"}],"wp:attachment":[{"href":"https:\/\/ivwealthreport.com\/Report\/wp-json\/wp\/v2\/media?parent=1398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ivwealthreport.com\/Report\/wp-json\/wp\/v2\/categories?post=1398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ivwealthreport.com\/Report\/wp-json\/wp\/v2\/tags?post=1398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}