I am currently building a social bible app.

Why am I building it?

I started building it, because I couldn't find the features that I needed in already existing apps.

I open sourced my work on it, because I believe everyone should be able to freely access the bible, and I want to be able to build software that is shaped by the community that uses it.
So I made it open source.

What I learned by building it

I had a vision, I knew what I wanted to build.

I developed a (for my situation) pretty good release plan:

1. Phase: Closed-Alpha

In this phase, the product is ready to use, and I open the registration via invite codes to a select number of people.
I frequently ask them to report bugs and improvements.
If the product is usable without major bugs, I transition into the next phase.

2. Phase: Open-Beta: A unlimited number of people can now register and test the product.

Now, I begin to polish the user interface and flow.
When that's done, I transition into the last phase.

3. Phase: Release.

Now everyone can register and use the product.
I write a release announcement.