“This is going to be a revolution”- If this is what you think about your app idea, the chances of making it a reality is high!
And this is just the beginning of the whole mobile app development process, in fact, the ideation period is not the tip of the iceberg. The 90% of the iceberg is beneath the ocean- means, after the mobile app ideation, the actual process of mobile app development, mobile app development funding too is challenging and calculative.
You might be shielded and well-packed with the mobile app idea concept, the prototype, the features & functionalities of the app, and a team with a vision.
However, looking at the other side of the process, developing an application requires tools, traction, app investors, a lot of money, resources, and time.
So, before you quit anything and invest your whole time for the app development, it is good to first validate your app idea and about how to get funding for an app.
Validating an app idea is a calculative process that involves a lot of steps. When the app idea is nicely made and presented in a uniform manner, then only you will be able to attract app investors for the app idea.
Getting your app made and presented has taken on importance because if it is not done in a nice manner, you can attract or convince the potential app funders to invest in your application.
Thus, here in this post, we will be showing you the ultimate ways to attract mobile app investors to let you go ahead with the swift and smooth mobile app funding.
How To Attract Mobile App Investors For Your App Idea ?
Key Business Points
The few minutes of the app idea explanations are the factors that decide whether the apps funder is going to invest their money on your app idea or not.
Paul Graham in one of his essays about how to convince app investors writes:
“Most app investors decide in the first few minutes whether you seem like a winner or a loser, and once their opinion is set it’s hard to change. Every startup has reasons both to invest and not to invest. If app investors think you’re a winner they focus on the former, and if not they focus on the latter”
Thus, the first few minutes are quite crucial.
For that matter, your body language says a lot about your confidence regarding your application. Thus, shake hands, make direct eye contact, be prepared about the app information, be enthusiastic, be positive. Although the person who you will be meeting is an app investor, however, seeing him like another person will boost your morale and make you confident too. Make the first impression outstanding, deliver a presentation showcasing the excitement of your app.
Meanwhile, remember that there isn’t any concrete formula for the app idea investment success but bringing everything to the first impression is capable of delivering great results.
There are a few things you should keep in mind for the first meeting-
- Company Purpose- It is good to define the company’s objective in a single declarative sentence. It might sound easy but it is a little challenging. Grab the features of it instead of only communicating about the final result.
- The Problem– Go ahead and define how you are going to solve the problem of the users. Talk about the problems of the users, how it is being addressed today, and its shortcomings.
- Solution- Show the app investors about the solution you are going to give to the users and to the society. Show them the value proposition, the uniqueness of the app. Define why users will download the app and what is the next step after it.
- Why It Is The Right Time– The top app funding companies investing in mobile app development always know their answer to why the right moment is the right time to invest in, thus, imitate them and let app investors know your reason to invest in. Also, answer them why you are investing in the app idea now and not before.
- Market Potential– It is good to identify your customer and the market before getting started with the app ideation. Show the app investors the mindset and the idea behind it.
- Competitors– Who are your competitors in the market and how you can win over them.
- Business Model– Show the app investors about your intent to thrive in the market.
Don’t forget to pitch your final product too.
The above-mentioned points are crucial to attract app investors, however, building a prototype made with each and every functionality of the app is better than describing an abstract idea or concept.
For it, here a are a few options you need to keep in mind before getting started-
- Develop The Application Roughly
If you have the caliber to develop the mobile application that can act as a working prototype under a shorter period of time, it is good to go ahead with it.
There are app investors who like to invest in technical ideas as they get more chances to lead the market.
- Developers & Designers
If you have resources and money to invest in, it is good to bring up a team to create an app for you. Preparing a team for the funding for app development is challenging and requires money to invest, however, the results can thrive for years.
- Leading Mobile App Development Company
It is always good to opt for a leading mobile app development company that can come up with better and more professional solutions. The company gives you access to a range of expert developers, designers, and other team members. Thus, before hiring, it is good to know about the things to ask from a mobile app development agency.
Also, the app prototyping highly depends upon the resource, time, capital, and skills you can bring in to your app. However, always remember that whichever way you are willing to get started with, be sure of all the pros and cons of it.
The Right UI Strategies
The mobile application is also about attracting users to the app other than the app idea, the transforming potential, and others.
And to attract users to the app, it is essential to make the right balance between what colors will highlight it, the app icons, the placement of information, the right font of the text, and size- in short, the overall designing of the application.
Without the designing angle, getting your app developed will bring nothing but an ill-mannered or designed application. This will further become the deciding factor convincing app investors to the app or not.
In many situations, if the app is not appealing to the app investors, chances of them rejecting your idea take place while no surety of attracting the potential users in the market.
Concluding everything together, it is crucial to make the app rough idea attractive and appealing enough to lure app investors too. Ensure the app is the right set of everything, be it the color combination, the right use of fonts, font sizes, the accurate placement of everything, the breath areas, and so on.
Once you will be done with it, convincing your app funders becomes easy for you. Ensure the prototyping stage of app designing is nicely prepared to leave no stone unturned.
The Problem Solver
Google Play Store Statistics are filled with the data about android applications showing over 2.5 million apps whereas the section of iOS apps carrying some other numerical figures.
You need to be sure of how you can enter the world of mobile applications beating the top competitors and making a place in the smartphones of the users. Doing this is not an easy task.
Thus, in order to do so, it is crucial for you to come up with an idea that is not a copy of the existing app idea, in fact, the app idea should be a problem solver. You need to keep the issues and pain points of the users in mind when developing the app idea, and once you get hold of it, explaining why you come up with the particular app idea in front of app investors becomes simply convincing.
If you are coming up with a solution that is a problem solver for the users and also for the society, there are high chances that the app investor will invest his/her money on your app idea.
It is recommended to first do great market research, competitor analysis along with looking at the pain points and issues of the users. Make sure you know how your app idea can be a problem solver for the users and for the society as a whole in front of the app investors.
The Users’ Needs
We have already mentioned the importance of user pain points and how you can only succeed when giving an effective and easy solution to the users.
To lure app investors for your app idea and let them invest their money on it, it is crucial to let them know how your app idea is capable of solving the everyday problems of the users.
When meeting app investors for the first time, let them be sure that your idea can be a great help for society and how it can bring effective results in the end. Be confident while letting them know about the information on the application.
The Market Research
You can make the next move until and unless you are not well aware of the market. The market is the driving force and also a trendsetter for anything and everything. Thus, when in willing to lure app investors, you need to be sure that you are done with the market research thoroughly.
Your app should be a result of in-depth market analysis and research. The app should have everything a market is willing to see. Always remember that there are already millions of apps available in the market and the new ones to make a mark in the market need to make a lot of effort and research.
Thus, never leave market research at the corner before going ahead with the overall process of the app prototyping, development, and attracting app investors.
Your competitor is also your biggest motivator too. No matter how amazing your app idea can be for the welfare of the society and also for the world, make sure you are not mimicking exactly what your competitors are already serving.
If the competitor app is already performing well in the market, the chances of your app getting its fair share in the market along with the users downloading it lessens. Thus, after the market research, make sure you went through the competitor analysis.
Analyze what your competitors are serving, what are the things they have missed, and how you can take the leverage of the missing points from their app. Come up with a solution that is the amalgamation of your app idea, the missing points, and also the final solution you will be serving.
Once done with it, during the phase of attracting users, you can at least claim that your app is not the higher version of the preexisting app, in fact, it is the better and more robust version of a new idea. This will, app investors might invest in your app idea understanding how you can create a mass success in the market.
There are many issues that made users abandon the app. Among many reasons, app speed is something that encourages users to finally uninstall the app and pass the words to others while writing negative reviews and feedback.
Thus, it is good to pay attention to app speed. Make sure your app loading speed for every page does not exceed 2 seconds in any case. And in case, due to any technical fault, make sure to inform users about the same.
Moving on, there are some pages into the app that take more time than usual, in such a situation, to fill the gap, you can come up with the idea of chatbots.
After paying attention to the app speed, you can always attract app investors to invest their money in your app gaining their trust in how your app can be a great support to the users.
No app can work wonders if they are not accepted by the users and the market as a whole. Thus, it is crucial to come up with an app idea that can also be accepted by the society, market, and users as the whole.
Once you come up with the same idea and start working on it, getting funds for your app from the app investors becomes easier and efficient.
These are the things you need to take care of for getting sufficient funds for your application from mobile app investors. Now, when we are saying this that you should follow these things, not every time is a “YES” time. This means that there isn’t a sure short guarantee of getting funding for app startup from a single investor. Sometimes, many reject the idea whereas sometimes after 3,4 attempts and opting for innumerable ways to get fundings for the app to bring great results. Thus, there are a few things you need to learn from investors.
How Are The Lessons You Should Learn From App Investors ?
Just like how to get funding for an app idea, it is crucial to know about the lessons learnt through the funding process.
Learn From Rejections
Obviously, your idea is the million-dollar plan for yourself, but it doesn’t mean that it is equally enticing and worthy for the app investors. As the app investor is investing his/her hard-earned money to one’s app idea, it is the responsibility of the app owner to attract them towards the application.
Also, with all the hard work and the steps followed nicely, if your app still got rejected by the app investors, instead of getting saddened, it is good to understand their POV too. By learning from their POV, you can still make changes into the app and make it prepared for the app investors.
Be Prepared For NO
The chances of getting your app accepted by the app investor for investing is 2 times out of 10. Yes, it is challenging to attract investors to invest their money on your app in the first go. Those apps that got accepted are next-level app ideas that consist of every factor an investor often looks for.
Thus, it is good to prepare yourself for the first time “NO”, because your idea might be the best one but from the perspective of the app investors, he/she might have gone through similar ideas earlier.
Practice & Practice
We have already mentioned that practice is the key and learning is the part of getting your app funded from the app investors. Your app idea is transforming and the best for the users and also for the society, however, chances of it being rejected are quite common and obvious.
Thus, if the app gets accepted, it is good but in case it gets rejected, the app owner should also respect the perspective of the app investor and should try to bring more preciseness to the app too. Practice should remain the top priority in the field of the mobile app development world.
Getting Started One More Time
Your idea in the case might be rejected due to several reasons, it is never too late to get all the things back on track. Learn from the mistakes, the things which you missed, the feedback given by the app investors, and the fumbles you made during the presentation process.
Tighten your seatbelt, give a more precise shape to your app idea, come up with better solutions and others, and never be ashamed and demotivated of getting started one more time.
Following every measure and going through all the ups and downs, there are a few names of the app that got funding for app startup.
Apps that got fundings
How Much funding for app startup Do You Need?
It is important to understand the amount of funding for app startup, business, or for the beginning of your application. Underfunding can bring failure if one is capable of securing additional money in time.
However, when underfunding might bring failure, overfunding makes you give more shares to the company or to the investor. Thus, it is good to be self-prepared for questions like- how much shares you are willing to give to the investors. Make sure you should have the highest shares as you are the owner.
When it comes to how much funding for app startup is required, there isn’t any fixed figure to achieve. There are rough estimates, however, the concrete number will depend upon your app idea, the level of innovation, the complexity, the team, and others.
Meanwhile, here is the rough estimate of the amount for both iOS, Android-based app-
Here in this blog, we have shown you almost every major step you need to follow to attract app investors for your app idea along with how to get funding for an app. If you follow them swiftly, chances of getting your app approved become high, however, we have also shown you what to learn from the investors in return.
Thus, this app is wholly made to let you understand the potential of your app idea to entice mobile app investors. In case, if you still got some questions to get them resolved, connect with our app experts to know more.
Co-Founder & Managing Director of AppVenturez Mobitech. An entrepreneur who is tech-savvy and aims to build the largest software business through technological innovation, keen business strategist and a passionate technocrat. He firmly believes in learning and earning by planning and performing.
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