Evan Luthra has that rare and coveted ability to turn original ideas into businesses that are both innovative and profitable. At 24 years-old, he has an already impressive resume and career history. He started his journey as a serial entrepreneur as an adolescent and was bitten by the "digital bug" early and often. This forward thinking, technology-minded entrepreneur embarked on his first digital endeavor at just twelve years old by curating technology-related news, and he garnered a 250,000 readers in doing so. He then began developing mobile apps with the advent of mobile app popularity. Always on the cusp and leading edge of new trends and innovations, he has become a true innovator and a recognized name in the world of Startups. He has started various technology companies and built products used by millions of people. As he refused to listen to people with limiting beliefs, his experience from a struggling innovator to a leading entrepreneur inspired many when he exited his first company for 7 figures and simultaneously took over the TedX stage at 17. Evan has extensive knowledge and experience in mobile apps and his company, EL Group International has developed and delivered mobile apps for major Fortune 500 companies. Evan's strategy follows a simple, but proven formula: conceptualize, innovate, execute. His Startup Studio Incubator Fund (StartupStudio.online) - works with non-tech entrepreneurs and backs them with capital, technology and marketing resources to launch new companies from the ground up. Having built and invested in 30+ companies in the last 5 years with a combined market cap in excess of $1 Billion USD, he continues to guide and mentor startups across all technologies. He believes in stepping out of the comfort zone and exploring the power of conceptualization, innovation and execution. The thought that 'entrepreneurs are dreamers and doers' led his path to the most talked about technology today blockchain. His work in the Blockchain space primarily revolves around working with and investing in leading companies such as Hygh.tech, Relictum.pro, Locktrip.com, Hashgraph.com and has been regarded as a Blockchain expert and pioneer by the worlds leading organizations and publications. He has also received a honorary Ph.D in Blockchain for the impact he has made in the industry from launching Blockchain Schools to Blockchain Coworking spaces and having spoken at 50+ Blockchain events. Evan is an accredited Angel Investor and invests in a variety of products and businesses. From being the first investor over snapchat , to an early investor in Eaze.com (Fastest growing on-demand Tech company in 2016) and Wheelys Cafe (Top 15 company to watch out in 2017 by INC) to most recently investing in the seed round of Hashgraph.com (The billion dollar Crypto Currency), Admix.in (Biggest Gaming AD Publisher, JoshTalks, FTcash and more. Evan believes in using technology to disrupt existing industries and has companies in a diverse set of industries from FoodTech, FinTech, Marijuana, Travel, Nightlife, Food and Beverage, Lifestyle, Social, AI, Augmented, Virtual, Mixed Reality, Entertainment, Fashion and more. He is a featured speaker at different universities and conferences around the globe; he speaks about Mobile Apps, Entrepreneurship and trending tech topics, to huge audiences and has spoken for Tedx, United Nations, Google, Nielsen and has done guest lectures at Delhi University, Washington State University, San Francisco State University and more. With his keen insights and digital expertise, Evan is constantly thinking of new ideas that will innovate, simplify and make the quality of daily life that much better. With an expertise in building businesses, unmatched knowledge and the courage to turn ideas into businesses, he is also known as a technology pioneer by leading media companies and publications. To name a few, Business Insider, Times of India, Forbes, Entrepreneur.com, VICE and Nextshark covered stories for his resilience. He has also been the focus of multiple documentaries for leading television networks around the world from from “The New Maharajas” on Al Jazeera in UAE, “Capitole” on M6 in France, to appearing on “Good Morning America” ABC News, “LAUREN!” Netherlands and many more. This has gained him a huge following of over half a million fans across various social networks. With such brilliance across all his initiatives, he has been featured as one of the 5 millionaire entrepreneurs to follow on Instagram as well as Top 30 under 30 entrepreneurs. As a member of the Forbes Technology Council Evan also guests posts for various articles talking about how technology is changing the world at a rapid pace. Evan has written multiple articles for Forbes, Entrepreneur, CoinTelegraph and many more. In Evans own words: “The Best way to predict the future is to build it”
If you have already validated the product, I would suggest you to do some market research.
What is the high and the low end that the consumers are willing to pay.
1. How many "Bulk Buyers" are out there and how much do they pay you per home compared to how many "High-End Buyers" are out there and how much do they pay you?
2. Whats the Acquisition costs on both these markets?
3. Can you target both at the same time?
The point being that you will need to understand your market better.
Allow me to compare my business to yours and explain. I provide Services in Digital Solutions. In our Market we have clients who are willing to pay $1000 for an iPhone and then I have my clients like CitiBank who paid in excess of $1,000,000.
Theres only one Citibank but theres 100's of 1000's "$1000 clients" You need to decide is it worthwhile to pursue and deliver on those small clients or go for the big fish.
I will need to deliver a 1000 Small projects to compare to what I made in revenue to that one Single big project.
It just doesnt make sense for the overhead I will need to put in to manage a 1000 clients.
In the end you will need to get that same ratio out for your business and then choose the market you want to target.
Having built multiple apps on my own and with a team and for emerging startups to Fortune 500 firms I can say with utmost confidence that your price and quality will vary greatly.
A simple basic app could be delivered to you for under $2000 or you could go spend over $20,000 working with professional user experience designers and developers.
Let me know if you would like to talk - Evan@EvanLuthra.com
What are you best at ?
Focus on that and outsource the rest .
Are you a Math Whiz Kid?
Learn to program. Hire a few marketeers.
Are you are brilliant marketeer?
Then hire a firm and Run the marketing side of the business.
Are you a finance mastermind?
The leave the marketing and development to a proffeisonal.
In the end your product quality matters and you can't be the best at everything. Focus on one field . Hire amazing talent for the rest.
I run http://ELGroupInternational.com and have worked with various entrepreneurs in the Valley and from around the world.
I am happy to say evey single startup we built has been funded.
Feel free to email me if you wish at Evan@EvanLuthra.com .
I have worked with some of the Top 50 Fortune 50 companies for Mobile/Web/Google Glass Development Projects.
Never work for free if you don't want to devalue yourself later. If the client is big (read rich) he won't mind paying for some initial Mockups.
The whole point of working with big clients is so you can charge them more than you would charge an average client.
Let me know if you wish to talk about it. Willing to talk for free :)
I used to work as a CTO at two iOS App Startups before and finally started my own outsourcing company with 800+ developers . I have built apps for Stanford, Godiva and more.
Check out my portfolio at http://evanluthra.com/elgroup and if you are interested message me to get on a free call with me to discuss your options.
The Cost to program an App like whatsapp in its most basic version would be about $5000. In Its most optimum version about $20,000+
http://howmuchtomakeanapp.com is a great resource for checking costs.
I am willing to consult you for free if you are interested in getting an app developed :)