App | While building an app, the key challenge you will face is about the “Capital.” It is quite a time-consuming task to fund the development and growth of your app. Looking for investors that belief in your vision is a tough nut to crack. Sometimes it seems impossible as well.
There are some cunning ways to prepare yourself and create your app idea that convinces investors. You have to assure them that your unique app idea is worth the investment.
If you are keen to attract app investors towards your app idea and gain their trust, this post will guide you.
Let’s get going.
#1. Approach real-world concerns
If you want to succeed with your app idea, you need to solve some real-world issues people face in their day-to-day lives. Determine the problems by in-depth research. Clearly describe to your potential stakeholders how your app will solve those issues. Give them some valid reasons to invest in your app.
#2. Thoroughly assess your app idea
Only having a mobile app idea will not get the ball rolling. A thorough market analysis is required to identify any similar apps available, or your idea is unique. With the research, you can make your software product much better by developing unmatched features.
#3. Acknowledge the right market
You need to identify your targeted audience before deciding on the app features. Understand your market and perform competitor analysis. It helps to identify what features similar apps are already offering to the audience. So you can figure out potential risks and success opportunities.
#4. Get to know market size
After performing competitor analysis, you have an approx idea about the market size you are expecting. Before going to investors, define the target audience as well as market share. It will help you to showcase accurate figures about the opportunities you are presuming with your app idea.
#5. Choose a team/development partner
To develop advanced mobile apps, you need a development partner or a team with great expertise. It is one of the crucial steps that make or break your apps entirely. You have to choose developers wisely. Select the one having enough experience in similar project development. You will find a top mobile app development company having professional teams to develop leading-edge features to solve real-life issues.
#6. Find out fundamentals of investment
If you want to convince potential investors by gaining their trust, you need to understand the fundamentals of running a business and raising funds. It is all about discovering the type of fund you require and current investment phases.
#7. Make revenue plans
After discovering investment fundamentals, you need to concentrate on the strategies to generate profit/revenue. The more precise your system is, the more wholeheartedly investors get convinced. Analyze app monetization tactics such as freemium subscription, in-app advertisements, etc.
#8. Develop prototype/MVP
Development of MVP or prototype is a winning trick and ensures investors that you are damn serious about making your apps a big thing. They also see and interact with your apps idea rather than just listening and imagining the scenarios you portray. If you offer an interactive demo experience to your investors, make sure you also represent risk factors coming in your way.
#9. Rehearse your presentation
You will not be going to participate in a TED talk, but a presentation in any of the formats needs a high level of preparation and rehearsal. When you rehearse the speech, your confidence will increase day by day and ensure that you are well familiar with your apps idea. It also refines your presentation abilities not only with delivering your talk but using visual aids. Try to discuss your material without slides. Assume the question you will face from the investors and be ready to answer it with confidence.
#10. Create a pitch deck
Instead of business proposals, use pitch decks to appeal to investors for funding your app idea. Your pitch deck needs to be clear and brief. It should contain a strategy to obtain mobile app users and an estimation for app development expenses. You can follow the tactics of businesses that have successfully raised funds using pitch deck. Keep noticing and encourage yourself for the pitch deck.
What’s next once your app gets funds?
Once you get funds from the investors, that does not mean you need to stop now. There is always room open for the improvement of the current situation. Once your apps launches, improve it and achieve more followers. Keep receiving feedback from your users as well as investors and develop features accordingly.
As you face different funding stages, you will keep accomplishing new milestones. Then you can pitch bigger inventors to raise more funds. With more funding, you can develop more features, and this cycle keeps going.
Bringing your app from a thought to reality is a difficult path. But if you are willing to put in all the efforts for the success of your app, you are no longer away from your goal. Once you have the funding, you can keep adding advanced features with the help of mobile app developers.
Keep in mind that with failure, you will learn something new and worth your attention. All you need to do is constant improvements.