When people first get into web development, many of them end up drawn to mobile app development. It makes sense. There is a huge market for apps with billions of mobile device users worldwide.
Of course, apps are also a competitive field. There are more than 1.7 million apps on the Apple App Store alone.
While independent developers do sometimes come up with a hit app, most people need some financial help. After all, you may develop a functional prototype, but that doesn’t mean you can optimize mobile app performance.
Getting that financial help means pitching your app to investors. Not sure how? Keep reading for six easy steps.
1. Put It on Paper
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Every app solves a problem. Granted, that problem may prove to be simple boredom or it may be motivation for working out.
Whatever problem your app solves, write it down. Write down how your app will solve it. If you have design ideas, write those down too.
Then organize those thoughts into something that someone not involved can understand.
2. Do Some Market Research
The odds of developing a truly original app are exceedingly low. Some basic market research will show you that, on the surface, there are other apps that solve the same problem.
You need to use that research to show how your app solves the problem in a different or better way. If it can, you have a good shot of attracting users.
3. Prototype
Investors generally don’t like investing in pure ideas. They want something tangible they can see or touch.
With an app, that means you need a prototype version of the app. Now, this should run as a minimum viable product. Its only goal is to give people an idea of what they’re investing in.
4. Evaluate Investor Options
There is no one-right-size investor for mobile app ideas. Developing an app takes time. Different types of apps have different needs.
Entertainment apps like games are very different from business apps. With that said, you’ll likely end up using a common funding source. Those include family, crowdfunding, app contests, angel investors, or venture capitalists.
5. Pin Down Your Revenue Stream
You must decide on how your app will make money. You can use in-app purchases, ads, or even sell the app itself.
The point is that you must decide this in advance.
6. Build a Pitch Deck
A pitch deck is essentially a brief slideshow that breaks down your business plan.
Chunking it up that way makes it easier for potential investors to see and understand the data and the core ideas.
Pitching Your Mobile App Development Idea
Pitching your mobile app development idea is mostly about preparation. You need a good idea that solves a problem.
After that, though, you need market information. You need a clear idea of what kind of investors will work best.
You must clarify the app’s revenue stream. Then, you must assemble a pitch deck that puts all of the information you gathered into an easily digestible form. That is what truly pitches your idea to investors.