If you happen to have an Apple iPhone, you probably very well know the power of the app -- those little software programs that allow you to do things with your phone that you never imagined you'd ever do with a phone. On my own iPhone, I have apps that let me check my bank accounts (BofA), view weather radars anywhere in the country (Accuweather), track all my airplane flights in real time when I'm traveling (FlightTrack), view and download (or email) any file I choose on my desktop computer -- from anywhere in the world (SugarSync) -- find a taxicab (Taxi Magic), get recommendations for local restaurants (Yelp), book reservations at local restaurants (OpenTable), and much, much more. It's truly amazing what iPhone apps allow you to do, and it's the reason why I'll never switch to another phone -- at least until something better comes along. However, with more than 185,000 different apps currently available -- and more being added each day to Apple's iPhone arsenal -- I personally believe it's going to be a very long time before something better does come along.

So what does all this have to do with business -- more specifically, your business?

The point is that if you're looking for a new way to draw new customers to your products and services -- or more closely link your current customers to your business -- then you should give creating your own iPhone app a look. For example, my friend Bob Nelson is in the process of creating an iPhone app based on his bestselling book 1001 Ways to Reward Employees. Not only will users of his app have immediate access to thousands of tips for rewarding and motivating their employees -- anywhere anytime -- but Bob will also have the opportunity to plug his consulting business. Entrepreneurs and business owners and executives are increasingly realizing that developing apps provide a new channel for both getting product into customer hands and promoting their businesses. And while Apple has a huge leap on the competition, the other smartphone builders (including Blackberry, Google, HTC, Palm, etc.) have now seen the light, and are now promoting their own apps. More than 4 billion Apple iPhone app downloads to date can't be wrong.

So how exactly do you get in on this gold rush of apps?

You can of course hire a company to do it for you. There are plenty of software development firms that can knock out an iPhone app for you and get it submitted and approved for the iTunes App Store. Or if you're feeling a bit more adventurous (and want to save some money), you can create one yourself. There are a number of software programs available that make the process easy and relatively painless. Guy Kawasaki -- guru of all things Apple -- personally recommends AppMakr, which allows you to easily create an iPhone app and get it into the iTunes App Store for a one-time fee of just $199.

Whatever you decide, an iPhone app can provide you with a powerful new way to generate new business. And that's always a good thing.

Check out this WSJ article to see how retailers are using the power of smartphone apps to drive business into their stores.