Best of luck with this old mate. LOVE the logo, LOVE the name, and good on you for not following the herd down the crypto reward route and going with tangible and actual benefits for your users.
With this in mind, the monetisation worries me slightly but I'd suggest charging a small amount for the app. Users could get gift vouchers or sports wear, and be careful not to make this too easy or too hard, judging the difficulty will be your hardest task I think, so a few cents for the App is not unreasonable. If you set it at a price for instance, then you can discount it, to encourage take up.
Business advice. Push at and work hard but always have a plan B and never ever be afraid to walk away if something is truly not working and you can put your hand on your heart and say youve done everything you can to make it work. Sometimes, even with all the will in the world, things dont work out. Never let yourself go down a cliff you cant climb back up.
Best wishes mate, give it everything you've got and keep posting updates and where you're at, and people can help and encourage you every step of the way :-)
Nearly forgot. The local angle is genius. Start small, start local both with users and rewards. It means you can manage growth better and test what works and what doesn't ....one step at a time, manage and measure :-)
About the logo, I did not put much effort into it yet because it's not that important at this stage. Just with the help of a random logo generator and some creativity. ;) But I also think it's not that bad.
I do like the name as well. I thought about this a long time. First I thought of "LocalStep" then "Step2get". But then I realized.. I'm not looking for a name for a company. I need a name for an app! It needs be catchy and fun. So then It hit me. Walky! :D
I also thought about adding a subscription fee for the users. But It's a tough call. In order to be successfull, I need users! As much as possible. But how many will I scare off just because of the subscription fee?
You're right about judging the difficulty for the rewards. This has to be spot on!
I'm also aware of the possibility this could fail. The first step is to write every detail down. Create a solid business plan, make a roadmap and surround myself with people that know a lot more about businesses and marketing than myself. If I still have doubts, I won't go through with it.
Good idea about posting updates about the project. I will keep that in mind!
Thanks for the input. 2 shares incoming!