As the startup era is flourishing nowadays, you must have heard from many that they have a brilliant hundred million ideas for a new startup. One of the interesting startups today is ‘mobile app’ startup. Many who create mobile apps assume that they could appeal to a large mass. Having a great app idea is the first step towards creating an app and makes it operational. The next big step is getting funding for your app. This is where approximately 90% of companies, that is, getting the required funds to deliver the app in the market. A bitter reality in this entire process is that many of these ideas fail to become reality in the application business because of the shortage of the fund.
Employing a mobile application developer and testing before launching a mobile app is a costly affair. Therefore, many fail to execute the idea of launching an app. Most of mobile app development companies think that it is difficult to find required investors. It is not easy to get investors that believe in your idea. As much as you put effort to deliver your idea, investors too fund the same amount in your idea. So, getting investors to fund your app is not a walk in the park. But you can get investors to your app if you have an idea on how to have the information on how to find it one. You can get funds to your app through sources like bootstrapping, crowd-sourcing, self-funding, and partnering. However, if you are aware of what makes your app look attractive and profitable for investors, you are sure to secure funds for your app. It provides you finally pay your employees or workers if you haven’t yet constructed.
Some approaches that you can adapt to pitch your app as attractive and worthy for investors are:
- Put your idea on paper
Writing down your idea is the initial stage to start your startup. By putting your idea in front of your investors, you can take the first step towards establishing your startup. Everything entirely depends upon how you put forward your app idea to persuade investors, guaranteeing that you have measured every emergency and have a good understanding of the business. Having everything written in a planned manner, you will be able to answer to any query of your investor. When planning your business strategy for your mobile app, ensure to include details about your price proposal, management team, target audience, financial plan, and promotional strategies. It is necessary to cover all the basics before the presentation.
- Keep your app prototype ready
Your task to impress your investor does not end by just putting your ideas on paper. What really matters is that it is executed very well. It is necessary to have a fully designed prototype ready to show to your investors, as they would be funding your project. If you have a prototype ready with you, investors will get the message that you are serious about your project. As the mobile app market is ever growing, it sometimes gets difficult for the investors to understand the application, if they do not see it. If you some funds, hire an expert to help you with the design. And in case you do not have funds, use User Interface kits to create a simple prototype. When you get an opportunity to pitch your app idea to the investors, having a prototype can be really useful.
- Easy to use design model
Though the entire world now utilizes mobile and different applications for various purposes, one cannot consider all the users as savvy. There are many mobile users who are not aware of the features of mobile apps. This is the fundamental reason to keep the design easy to use. The development and design of the app keep changing each day, so do the services and features. Each application is different from another when it comes to browsing, navigation or accessing data. Some individuals are not so skilled therefore it is required to keep the design model of application basic and easy to use.
- Explain the problem and present the solution
Once you have designed your app for a demo, explain to your investors the problem it is going to solve. There are many apps present in the market that are already solving the problems of the users. Make your explanation on the problem short and simple, so that it catches the eye of the investors. After explaining the problems, make the investors aware of how you can fix it. By showing them the pain points, you can make them understand how it will improve the current situation.
- Target audience and competition
Well, the investors know about your app – what problems it is solving and how it is solving. Now you need to show them who all will be benefited from the app. No one will invest in an app that does not have a user. So, it is required to show the target audience and how you are different from your competitors. Create a useful hard effort to get someone to create an introduction for you.
Now that you know how to pitch your idea to the investors, you can easily persuade them to fund your project. By showing them the prototype, giving them a clear picture of your target audience and market, as well as introducing them to your team, you can improve your chances of getting investment. It is just a small effort that you need to put in to make your idea of a mobile app get real. Now that you know which areas you need to take a step, get ready to convince your investors.