Apple

What is the biggest strength of Apple?

What do you think is the biggest strength of Apple?

Their market cap is now about 1.5 trillion. Last year it sold ৬ 260 billion, much less the national budget of many countries around the world. Brand value is about 210 billion dollars! But market analysts say Apple has even greater power.

What is that?

That is, they have about 1.5 billion active iOS users! (Only active iPhones have over 950 million!) That means on average, one in every 5.33 people in the world has at least one Apple device. The huge amount of power that Apple holds is actually far more than their brand value, revenue, etc.

User Base will determine your strengths in today's world. The stronger it is, the stronger your everything will be. Business, sales, profit, brand value, market cap, the future of the business. Facebook, Google or Apple, these three companies have become tech giants due to their user base. The more your product can penetrate the mass customer, the more you can increase the customer base.

For this reason, the first goal of any startup or new business is to increase the user base. For this reason, the product has to be designed in such a way that the customer becomes addicted to it. Silicon Valley giant companies realized this fact more than two decades ago today, and one such product after another is unveiling to the world. And we are now addicted to their products.

Facebook, Messenger, WhatsApp, LinkedIn, TickTock, Tinder, iPhone, iPad, Google Search, Google Map, these are the names of each addiction. In 2013, Neer Yale and Ryan Hoover published a best-selling book on how to make addictive products or services. Name Hooked: How to build a habit forming product. My idea is that every entrepreneur in the country should read this book a few times. (I will write about this one day separately. So I will not talk about it today.)

Let me give you a local example. The mobile app of development in Bangladesh is such a habit forming product. Notice, how much are you benefiting from it?

I myself no longer go to Flexi Load store, I recharge my mobile with bKash app. Pay monthly utility bills, can be connected to any Visa card! IRepeat can be integrated into any Visa card development app in the world. I don't know if any other mobile banking app in the country has this facility.

For tech-savvy people like me, this is not something to say. But think of mopsball or village users. This time I went to the village and saw that the people of the village are also loading flexi with the development app. This is a huge advantage for them, because they have to go to the Ganj market with an auto rental of Tk 10 in many places just to pay for mobile. This is a waste of extra time and money. Their time and money are now being saved because of development.

Moreover, the people of the village are not sustainable, the internet is not cheap there, the speed is not good, so, popularizing mobile banking there, meaning making mobile apps a human habit was a big challenge for development. They have done one quite successfully.

I haven't seen paper notes in Australia for a long time, about 2 years. Cash inflow-outflow was all through online banking. I used to ride in vehicles with weekly passes. This introduction will also start in Bangladesh through mobile banking. And most likely by the hand of development. But most of the people in this country are not yet accustomed to cashless transactions, largely because of the infrastructural problems, now there is infrastructure, but still in many places still do not accept cash through any means other than money, so, lack of infrastructure Marginal traders are not interested in cashless transactions. And development is successful in this place.

Those who do not like cards or other cashless transactions are also using bKash effortlessly, being forced to do so. There are three main reasons for this

1) Development is easy to use.

2) They believe in development.

3) A large portion of their customers use development.

This can be one of the examples of making a habit forming product. BKash is not only the best mobile banking service provider in Bangladesh, it is one of the best mobile fintech companies in the world.

Bikash's Success Story is a role model for many developed countries around the world, and Bikash's case studies are taught in many of them. So, if they could not make such a great mobile application, product or service, I would be rather surprised and sorry.

The more habit-forming products like bKash in this country, the more our daily lifestyle will change. And here they are as strong as Apple, meaning that the user base of development will soon surpass all the telecom companies in the country! Now most probably three and a half crore active users! That means an average of about 7 percent of the total population of the country! What a great match in the figure with the apple! (Continued)