Do you have an incredible idea for a mobile app? If yes then you must be super excited to get started with it. And, honestly, you should be, after all, it’s your idea and there are chances that you will gain profit from it too. Now, the question is how to get funding for an app idea.
If you are worried about the funds then we are here to provide you a complete insight on funding for an app idea.
In today’s world if you do have an app idea then you can consider probable chances of generating a ton of money. Wondering the reason why? Well, globally it has been noticed that mobile app marketing generates up to $60 billion in revenue every year. So what does this mean? This directs to the point that you can try your luck for this huge opportunity by creating new business through your idea.
Make The First Step Towards App Funding
Well, the first question that you need to put in your mind is, ‘ Is your app idea good enough for funding and success?’
The reason behind this question is to clear your mindset about your ideas. Because having an excellent idea is one thing but turning it into a successful idea is a different thing.
And, if your idea is good enough then you would have an obvious advantage over all app idea developers. So, clearly, now you understand the importance of having a unique idea for your business. Moreover, your only part is to impress the investors so that they can bring you profit and help you to bring your app idea into a reality.
Points to Clear Before you Hop onto App Funding
Here are some of the points that you need to keep in mind before you think about turning your app idea into a reality for profits.
We are giving you this list so that you can decide what you want to do with your idea.
1. Can your app succeed?
2. Whom are you planning to get in your team?
3. Are you planning to take your idea into a long run or build a business?
4. If yes, then what is your business plan?
5. How do you plan to get the funding?
These questions will help you learn the potential of your app idea and help see where you can go with it.
3 Successful Ideas on How to Get Funding For an App
These are one of the best ideas that can take you towards your goal of seeing your app idea into a startup or business.
1. Get Angel Investors and Strategic Partners
Not clear about the idea? Well, an angel investor is either a company or a person who would invest at the angel round for you. These investors provide capital for the complete development of your app and can even pay until later developments. Today, the size of an angel investment market can be said to be around at $20 billion on an annual basis.
2. Think About Raising Donations on your own Site
Did you know that crowdfunding could have its own risks? To eliminate those risks you can try to raise funds on your own site. And, trust me, you will be under complete control of that.
You simply have to describe your proposal and then ask your readers for a small amount of donation for the app. In return, you can offer your readers with gifts or pre-orders on your app.
3. Participate in Funding Contests for your App
There are many shows in the business which can fulfill your app idea and turn you into an entrepreneur. These contests are mainly sponsored by several named universities, technology companies, and networks of angel investors. So, think about it and if you like the idea then go for it.
How to Get Money with No Investors?
Not everybody is lucky enough to get investors spilling money out for them. Don’t know how to get money for investment? Well, there are a few things that you can try to get some money.
1. Invest your Savings – We know that this part is scary and because emptying each penny from your savings can get quite heavy on your heart. So, you need to calculative the risks and then decide if you would want to invest your savings upon your idea or not.
2. Get Loans– If you do not want to invest your money or do not have any savings then you can borrow money from someone or get a loan from a bank. Or another good idea is to get your app financed through credit cards.
3. Launch Crowdfunding Campaign – Crowdfunding can be a great option if you are looking for a quicker way to start your app. So, give it a shot as this may lead up to your dreams.
4. Try Incubators– This is another popular option that you can try to collect funding. Another good part about incubators is that they fund a few apps in their initial or conceptual stage.
So, in case you still haven’t found any investors then these things can be seriously considered.
How to get Investors to fund for your Mobile App Idea?
Investors today are not at all easy to find and literally, you would have to convince them that your app idea is worth putting money into. The first step is to make the perfect elevator pitch to your investor so that they can get convinced to fund for you. You must be able to tell them what your app does, why people would want to use it, and what would be the success rate if the app comes into the business.
Here are some of the points which will help you catch investors easily –
1. First, try to communicate your app idea with investors.
2. Then, you will have to show the investors the highlights of your app.
3. Make your app idea look presentable
4. Also, research your app’s competitive scales and see what they are doing to develop themselves.
5. Learn to hear ‘no’, and ask them for feedback so that you know where you went wrong.
Conclusion
An app idea can truly mean a lot to you. It can either be just the starting point or lead you towards a successful business. The importance of funding is also very clear but this is a part that needs to be thought processed by you. There are several options available for funding but only what you choose in the end will matter for you and decide the finale of your legendary app idea.
