Start by reviewing everything your competitors do.
The key to understanding if you are going in the right direction from a product standpoint is to get it in front of users - so if you haven't let some of your potential end users spend time with the product, or at least put the concept in front of them to solicit feedback - that would be priority...
You can do this by using a server backend such as Parse. They have a free SDK. There are other similar options and I believe apple is rolling out the same thing in iOS 8 with CloudKit.
A typical rule of thumb would be that an established company sets aside around 15% of the outstanding shares at any point in time for employee options. Those get split up among employees based on their contributions. Depending how key these VPs are relative to other employees you have (remember ...