If you and your pals have been going gaga over a new app, you might want to pay closer attention to the developer. The latest thing keeping you glued to your mobile phone screen could be the next big thing in the red-hot technology sector and a timely investment could boost your wealth by no small fortune.
Admittedly, this strategy might not work every single time. Whatsapp and Instagram, for instance, are two runaway successes that nobody saw coming. Plus, the proliferation of start-ups – a new one surfaces almost every other week – does not make picking winners any easier.
Take a leaf from actor-turned-investor Ashton Kutcher’s book; when asked how he chooses which start-ups to invest in, he said: “I just try to fund the best and the brightest.” In essence, this means focusing on brands that solve a real problem, thus adding real value to consumers in the real world. You don’t have to throw every spare penny into every new app with a glitzy corporate video. In fact, you should strive to be shrewd and selective. Experience, instinct and a little bit of luck will go a long way in finding that big pay-off.