Hello there! Do you want to build your own sports
betting website or mobile app? Perhaps you have a unique idea for a betting mobile app, betting
platform for bots, combination of social app and a betting platform or even an AI marketplace
for betting professionals. Stay with me because I'll give a step-by-step instruction on
how to do that quickly and save money! My name is Dennis Babych, and I’m the director
of a software development company. In this video, I'll show you how to test your idea, outperform
your competitors, hire the greatest team, and save money along the way. All of this knowledge comes
from my agency's expertise, successful businesses, and top-tier practices combined into
one ultimate system. Let's get started! One of the most powerful tools right now it’s
an AI which can help you create truly unique and game changing services. Let’s take a look at the
super combo of large learning models like ChatGPT, connection services like LangChain, your unique
data which you can utilise and your unique idea. LangChain is a game-changing, open-source
framework that empowers developers to integrate AI models like GPT-4 with external data sources.
This powerful tool disrupts traditional methods by allowing AI to reference vast databases,
which was transformed into vector format. So, the LangChain provides not only answer
for your question but also it’s enables actionable responses such as automated
betting, decision making process and so on. So, LangChain can revolutionize the
betting industry by connecting large language models to vast databases of
game statistics, player performance, and historical betting odds. Utilizing LangChain,
bettors can query specific data points, receive insights, and predict outcomes based
on a more comprehensive data analysis. This enhances decision-making, potentially offering
a more informed and scripted betting strategy. Anyway, AI it’s just a tools that can
help you rock the world but you still have to create a software
for your betting platform. Let's start by identifying the core components of
your betting website. Depending on your business goals it might include the web and mobile
app for users and the web super admin zone. Also, one of the most important blocks that
you have to have when you are developing a betting platform it’s your anti fraud system
that will allow you to track people that want to scam your system. Some people would make 3
bettings like $114 for victory at your platform, $113 for tie at another platform and $115
at third platform thus they inflict heavy losses to the betting platforms.
That’s why KYC it’s a must have functionality and also AI algorithm for a
users behaviour tracking to block scammers. The mobile apps will have the functionality for
your users and have functions such as login, live betting, odds, payments, search, promotion
and bonuses, account settings and so on. The web app will have almost the
same functionality like mobile apps but with more expanded functions and services. The web-based admin zone will provide
functionality such as user management, verifications, payment management,
analytics, security and more. So, let's dive straight into the essence of your
software development voyage. Creating a rock solid MVP (Minimum Viable Product) is your golden ticket
to the software journey. So, what's the sense? Picture this, you're aiming to build a
betting platform. You're looking at users app, web app and an admin zone. But hold on a minute.
Do you truly need a live streaming functionality in your app right now? Could you, perhaps, use a
third-party integration service for this and make a simple integration? Same thing for let’s say
payments with crypto. And that user transaction history function – is it urgent? Maybe it's one of
those things that can wait until your version 2.0. Look, this MVP approach isn't just about
speed. It's tailored for efficiency. By focusing on select features and possibly
one unique killer element, we're talking about a streamlined development process, optimized
resource allocation, and an effective market test run. And here's the kicker: Once your MVP is up
and running, gathering a user base then it becomes a magnet for angel investors. Believe it or not,
valuations can skyrocket to a $1,000,000 or more. So, the bottom line? MVP isn't just
a buzzword. It's the secret recipe, and we're about to master it. Now, let's talk about pricing! When it comes to identifying the price for your
software, there are several things you have to keep in mind such as: quality assurance,
bug fixing, project management, maintenance and risks. Estimating the cost of developing
unique features at this stage, can be quite challenging. But don't worry, I'm here to provide
you with pricing for the basic MVP functionality. Here's a pro tip for you: if an investor
contract requires an in-house development team, you'll need to allocate a budget
based on US or EU rates. However, you always have the option to outsource your
software development expenditures to Ukraine, which can be a significant game-changer
when you are seeking value for money. Ukraine is an absolute hidden gem in
the software development world. Many successful startups such as GitLab, Grammarly,
and Jooble have already recognized a huge value of hiring Ukrainian developers to build a
top-notch software. Ukrainian developers have excellent English skills, extensive
experience in outsourcing development, strong math background, they have
innovative thinking which help them always think outside of the box, on
top of that they are hard workers. Also, many betting firms are outsourcing their services
to Ukraine because it’s a huge value for money. Ok, so, the most pressing question you might
have right now is probably about which features to include in your MVP and how to prioritize them
properly. And the answer is super simple. Follow the methodology that I'm about to share with
you. This comprehensive methodology that I've developed after 10 years of experience will
assist you in identifying essential features, make the pricing accurately, finding the
best execution team, outplaying competitors, achieve your product-market fit, and saving
a significant amount of resources. Moreover, it will shed light on why the app price
can range from $100,000 to $250,000. Buckle up! Let’s dive in! So, the first step is the business plan. And
this is where the modified Lean Canvas comes into play. It's like a business plan on
a napkin that uncovers all hidden aspects that you need to focus on. This business plan
will take something about an hour to prepare. Next, the order of these boxes that you see on
the screen and the process flow is crucial. It’s been created after experiencing with 1000+
Lean Canvas workshops with my clients. So, it starts with understanding your user groups
and their main pain points. What are their struggles? What issues can your service
address and make their lives easier? Next, explore your competitors and
the solutions they offer. Identify their advantages, disadvantages, and
their strategies that you can adapt. Your goal is to find the space where you
can outshine your competitors by creating a unique solution for your specific
niche without reinventing the wheel. Now, let's talk about your unique unfair
advantage. This is the powerful factor that sets you apart from your rivals.
It could be your cheap developers, marketing insights, AI utilisation and so on. Ok, once you've identified your unique edge,
it's time to target your early adopters. These individuals will be the pioneers who will test
your service and give you the most valuable feedback at the early stage. Discover where
they spend their time online and create a cool marketing hook to engage them. Give them something
truly unique and powerful. Broadcast your unique offer via social media, influencers, or
just regular Google and Facebook ads. By keeping a close eye on how your app's doing and
really diving into the feedback from your users, you can shed the light on what’s
need to be changed or improved. Also, if you are interested in learning more about
Lean Canvas and get insight from 1000+ workshops, I’ve created the full video about
that. Link in the video description. Next, don't just think about the present. Plan
for the future and envision global growth and international expansion of your platform.
Having a clear vision for your app's future in 5 or 10 years is crucial for attracting
investors and achieving unicorn status. Ok, the next thing you should totally be
focusing on is how you're gonna make some cash from your project. It could be betting
margins, affiliate programs, advertisement, premium subscription services, selling data to
AI agencies, in-app-purchases, VIP services, and more. Just make proper prioritisation
and implement one or two at the beginning. And here's a golden nugget for you: Are you
thinking of going cheaper than your competitors? Unfortunately, it's not gonna fly. What you really
want is to prepare and share with your clients a really insane and powerful value, so you can
actually charge even more than your competitors. If you have any questions, please leave them in
the comments section below. I'm always excited to help you out, and I'll personally review each
comment. Also, don't forget to hit that like button and subscribe to stay updated
and gain more business insights. Thanks! One of the most crucial steps in creating
your startup is achieving a product-market fit. Believe me, it's a game-changer. So,
how can you offer innovative and disruptive solutions that address the pains and
gains of your target audience? Well, completing your Value Proposition
table is the key to achieving that. Picture this you have an exciting idea
for your own betting platform. Before starting the software development
phase, it's important to identify pains and gains of your users. It could
be something like: no money for a start, geographical limitations, problems with
deposits, lack of engagement and so on. Once you have identified all these issues, it's
the perfect time to leverage your platform to tackle them. You can provide solutions
such as: welcome bonuses, VPN services, banks for deposits in different countries
and affiliate program where users can invite their friends or audience and
get the percentage from their loss. Look, when you prioritize the platform value
for your audience on front and keep that at the core of everything you do, you're setting up
your business to become a money making machine. Remember, small companies and startups
can easily outperform industry leaders by being agile, flexible, and focusing
on unique problems and local niches. You don't have to compete with
everyone in the market. Instead, concentrate on a specific audience and
provide them with the best possible value. And always keep in mind that it's
crucial to fall in love with your customers' problems and not just your solutions. Alright, if your goal is to create an app
that can outperform your competitors and satisfy your clients, then it's crucial to do
your homework and conduct proper competitor research. Look at the industry giants for
inspiration. They've mastered the game, and you can learn from them by studying their
user flows and proven methodologies. Remember, there's no need to reinvent the wheel completely. However, don't limit your research only to
the big players! Expand your scope and explore startups in smaller niches and different
countries. You never know what you might discover - there could be a hidden gem that gives
you a competitive edge in the market. Trust me, this exploration could be the most beneficial
factor in your startup's success. On top of that, you can learn which startup ideas
was successful and which one fails. So, the idea here is to grab inspiration
from the market and make something truly unique or improve a specific service. Look,
your goal is to identify how your competitors solving problems of your users and create
a disruptive solution that can make all the difference. You have to be like Uber
and old fashion phone taxi services. So, find the market problems and
generate ideas using, let’s say, AI. If you need assistance or support,
feel free to reach out to me through any of the contact details listed in the
description below. I'm here to help you, and I'd be delighted to share my niche
knowledge that could significantly impact your startup's success. Let's
outperform competitors together! Okay, once you've done a deep
dive into your competitors, pinpointed all your customers' issues,
and come up with a bunch of solutions, it's a perfect time to properly prioritise
your software features. You'll have to figure out which features are must-have, should
have, could have, and won't be developed. This savvy approach not only gives you a
solid game plan for the essential features your app needs without busting the
budget, but it also lets you pivot as necessary without burning through all
your resources. Plus, it helps you with finding the path to your apps core idea and
crystallize your project's main objectives, translating them into the software features
that should be on your development list. When it comes to creating an MVP for your
app, it's important to keep your focus on what matters most to your users. And
that's where a story map comes into play. With a well-crafted story map, you
can break down the user requirements and map out the essential features that need
to be developed and launched quickly. But hold on, there's more! To ensure
maximum user engagement and satisfaction, it's important to develop separate
story maps for each user type. Think of it as providing each user
group with their own treasure map, guiding them directly to the features that
are most important to them. By doing this, you can identify the specific needs of each group
and prioritize the features accordingly. This way, your MVP will meet their crucial needs and
provide the best possible value at this stage. Thus, the real power of a story map lies in its
capacity to help you save funds on one side, while simultaneously enabling
you to concentrate on providing the most value to your audience at
the right stage on the other side. Are you interested in delving deeper into
the world of startups and businesses? Do you want to connect with business-minded founders and entrepreneurs where I share tons
of insights and host live chats? If so, click the link in the video description and
join me on my Telegram channel right now. Keep in mind, that marketing it’s one of the most
important parts in the betting business. Marketing will cost you a dollar and many betting companies
are using a white methods of promotions such as ads, affiliate marketing and so on but also they
are using a grey methods of promotion of their services such as CPM marketing, movies language
translation services and ads on grey websites. Also, one of the biggest part of your marketing
strategy it’s memorisable brand. If people remembers your brand because of some crazy
and funny ads or even poem that’s been created for your brand then you are found the magic
formula of your business success and growth. Alright, let's talk about wireframing. Wireframes
are the blueprint of your app business logic, where you create every possible user cases and scenarios. It helps you uncover all
the hidden or unexpected user flows. For example, let's say you're in the process of
creating your betting platform. You've covered the basic functions like user authentication,
payments and betting functionality and so on. But what about situations where the user want to make
an API integration with your platform for betting using bots and scripts? Have you incorporated
a feature or a functionality to manage such scenarios? These are the types of issues where a
wireframe will help you identify potential gaps. Look, once again, the wireframe serves as
the foundation for your app's functionality and user experience, and it's crucial
to make this foundation rock solid. Next, let's delve into the UI Design of your app.
There are two key aspects to consider. Firstly, the UI design should cater
to users of all age groups, so the UI should be modern but not too fancy. Secondly, and most crucially, your UI design
should facilitate users in solving their problems with the fewest clicks possible. Because each
additional click it’s the money of your platform that you are loosing. Betting platforms are
always big and way too much complex. Thus, your job here is to incorporate well known icons,
design intuitive elements and their locations, and a simple colour scheme that will help your
users swiftly and effectively navigating your app. Third part it’s your logo and your brand.
This is one of the fundamental things where you have to put your attention because
strong brand drives sales like insane. Here's a helpful pro tip for you - to generate
really cool UI design style and ideas, explore portfolios on websites like Behance or
Dribbble. Search for betting apps, CRM apps, and incorporate design elements
that catch your attention. And remember what Picasso said, "good
artists copy, great artists steal." If you found value in these tips, please
show your support by hitting that like button and subscribing to my channel. Your
support will boost this video visibility in the YouTube algorithm and you don't miss any
valuable business videos from me. Thank you! Now, let's delve into the tech stack. This is
one of the most critical aspects when creating a betting website or an app. Therefore, choosing
the right tech stack is vital to avoid challenges such as slow user interfaces, non-scalable and
non-maintainable cloud infrastructure, high costs, payment and subscription issues, and the risk
of your app going offline during traffic spikes. So, if you're planning to create a betting
platform, it's essential to select the appropriate tech stack that enables rapid development of
your minimum viable product. Flutter or React Native are excellent choices for the mobile
app development. For back-end development, Python, Django, Node.js for main
infrastructure and C++, Golang for betting algorithms plus Amazon Web Services,
Docker, Kubernetus are perfect options. React, Vue.js, and Angular are ideal for
crafting web applications with ease. Additionally, leveraging third-party services
like Stripe and Braintree for payment processing, Twilio for SMS, and SendGrid for emails
can expedite your development timeline. Look, your goal is to create the MVP product
fast but at the same time keep in mind a big software architecture plan to be able to
expand and scale your product in future. Some tools you need at the early stage
and some tools at the later stage. Anyway, the right tech stack is like receiving
a correct diagnosis after a blood test. Alright, let's discuss the Agile process,
one of the most powerful methodologies out there that can significantly speed
up your development process. However, did you know that in some situations, it can
actually slow down your project by up to 30%? Picture this: you have a team of 5
developers who understand their roles, communicate effectively, and have made
significant progress in coding the product, they could use simple tools like Trello,
Asana, Google Docs, and quick Zoom meetings. However, as your team expands to 15 or more
people, you may face some challenges such as: losing your key developers, complex and
time consuming onboarding processes, reduced team productivity, communication issues, missed deadlines, and a decline
in code quality and architecture. To avoid these problems, it's important to:
• Hire a tech lead to oversee the team and code architecture.
• Find project manager with tech background • Implement SCRUM, Sprints, Backlog,
and Retrospective processes. • Conduct daily standups to keep
everyone updated on pending tasks. • Utilize advanced tools like Jira to
manage tasks and track your team velocity. Choosing the right tools at the appropriate
stage can accelerate your progress towards achieving your Minimum Viable Product.
However, keep in mind that even the best tools can lead to failure without
the necessary knowledge or expertise. Another pro tip for you: Agile methodology can
be a valuable asset not only in your software development journey but also in your daily tasks, business, and marketing.
It's really powerful tool. Collecting user analytics is a
crucial practice in the tech industry, allowing you to uncover essential
metrics like unique visitors, user behavior, and session frequency. Using
powerful tools such as Google Analytics, Sessionstack, Firebase, and Mixpanel
will enable you to gather valuable data. By consistently tracking your app's
performance and analyzing your users feedback, you can pinpoint areas that require
improvements to ensure your users' satisfaction. Alright, if you're thinking of creating a
mobile app or a web app, but you're not quite sure where to start and you need some advice
on how to start and outplay your competitors, feel free to shoot me a message via Calendly,
and we can have a 30-minute call. Trust me; I'd be more than happy to share some insider
knowledge and expertise with you, that could be a real game-changer for your startup. So, what are
you waiting for? Let's make it happen! See you!