Easy Steps to Creating Your Own App and Earning Money

Easy Steps to Creating Your Own App and Earning Money | Student FinTech

Mobile apps are everywhere, and they are all about serious business now. Small to medium businesses are recognizing the value that a mobile app can bring for their bottom line!

Here are a few simple steps to creating (and monetizing) your own app:

An Idea is at the Core of Every Good App

If you have an idea, put it on paper, sketch it out clearly. It doesn’t have to be a really clever idea, just define the way your app will work and clearly chalk out all the features you want your app to have, which will help you gain clarity before you start developing the app.

Rigorous Market Research

Rigorous market research can actually help you figure out what your idea is worth, and prevent you from making serious mistakes in the process. This part is often the most underestimated aspect OF THE PROCESS. Two types of market research that are particularly helpful includes observing and listing out the mistakes made by your competitors and figuring out whether there is a demand for an app like yours.

Create Mockups

Creating a mockup before you start building your app is essential to make sure you know how you want your app to function. A mockup is a sketch of how everything will be laid out, what the user interface will look like, and will break down the flow of how your app will be designed.

Graphic Design

After creating a mockup, get further into the aesthetics of the app. Your app’s graphic design will need to accurately cover the resolution and size and graphic effects of visual elements, image assets, and animation or motion design (if needed). For this, you can either hire a graphic designer or can do it yourself using a graphics template.

Build Your App

Once you’ve sorted out these things, it’s time that you start building the app. You can either hire internal or external teams for app development, or learn to code yourself. In both cases you would have to invest a lot in terms of money and time.

Process to create your own app:

  1. Choose an app layout
  2. Add features to your liking
  3. Publish your app on app stores

App Testing

Once you’ve created your own mobile app, it doesn’t necessarily mean that you’re ready to go live with it! It’s very important that you spend some time diligently testing the app.

Go Live on App Stores

For any app developer, the most awaited time is the time to go live on app stores, which is where all the fun happens. Follow proper guidelines as the process to publish your app differs across app stores. After you’ve published your android app on the Google Play Store and your iOS app on the Apple App Store, users can easily go there and download your app from there.

Market Your App

Launching an app doesn’t just finish with creation of an awesome app and publishing it on the app store- marketing is also an extremely important aspect. Even the best products need the help of marketing to get them in front of the right audience. With there being millions of apps on the app stores, you’re going to need some serious visibility and marketing is the way to go!

User Feedback

Authentic feedback from your app users is of great value. It helps you, as an app owner, capitalize on the users’ experience, and the feedback they offer, to make your app better.

Ways To Earn Money From Mobile Apps:

In-App Advertising

This is one of the most popular ways to monetize your app. With this option, you allow  advertisements to show on your app. As the owner of the app, you get paid according to the number of impressions the ads make or the clicks they get.


The subscription model is a highly effective way to monetize your app, and quite beneficial for both the developer and the app user. In this model, your app is  offered to users for free with extended functionality made available by paying a subscription on a monthly basis.

In-App Purchases

This is a monetization technique that is more relevant from the users’ perspective. Users, in this revenue model can unlock features or levels in an “a la carte” fashion and use only the features of the app that are of most importance and value to them.


This is another helpful strategy, but usually only pays off if you can find a sponsor with a similar target market. From there, you can look into white labeling your app, once you get the right sponsor and adapt the app design to match the sponsor’s brand.

Affiliate Program

This monetization strategy enables app owners to partner with other companies who target the same audience (known as affiliates), who then generate revenue by recommending a product or service to their audience for a commission. If you find a similar app you think your demographic might also like, you could structure a partnership with that company to earn a commission every time you send a new user their way, and vice versa.

With the shift in the ways creators monetize their work, people are not only recovering their cost of building an app, but are also generating significant, ongoing revenues for themselves. If you have a great idea and are considering making an app, it may just be an opportunity that can change your life.