So, you have an app idea—now what? You know users will love it and how you’ll monetize it, but how do you sell it to potential investors? Here’s how you can do it in six easy steps.
While you might have an idea for your app floating around in your head, the first step to selling it is to get it down on paper. Write down anything about your app that you can think of, like:
Your answers don’t have to be very detailed at this point, but the more you get down now, the easier it will be when creating your business concept and selling your app.
Even if you have the best app idea in the world, it’s important to do plenty of research before taking it any further. This includes gathering data on the overall market, competing apps, and the people to who you’ll market your app. We’ll go over each of these three categories.
The app stores are saturated with all sorts of programs—will yours stand out? Ask yourself these questions about your app:
Find the apps that are most similar to your ideas, features, and target audience. Then, find the answers to these questions:
You should know who your app will target, but what do you know about them? Find out these characteristics of your potential users:
Using your answers from the two previous steps, you’ll create your business concept—a document that shows your refined app idea along with a comprehensive business plan. This document should be able to answer any questions that your investors might have about your app.
Related: Develop Your App Idea for Less
Here’s what your business concept should look like:
Even though we’re focusing on selling an app idea, it’s still a good idea to work on development—investors like to see a working product. There have been many times that large tech companies purchased a working project. The precedents are set, and if you want to see large figures when viewing offers for your app idea, you’ll need something to show those companies. An app development company like Strides can help you bring your app idea to life in a matter of weeks.
Now, it’s time to launch your app idea (after thorough testing, of course), and the business concept document you created earlier should contain all of the info you need. After beginning development and thorough testing, you can implement your marketing strategy and start promoting your new app if you haven’t been already.
Attracting investors means growing your app by increasing the new and active user count, introducing new features, showing that you can retain customers, engaging with your users, etc.
Do the best you can to maintain a good reputation for your app by:
Remember, when potential investors come looking, they’ll do their due diligence before investing in your app.
Here are some guidelines to follow for finding investors to buy your app idea:
To sell your app idea, you’ll need to find a tech company that’s willing and capable of buying projects. The best way to go about this is searching for tech companies with recent acquisitions and see if they align with your ideas.
When deciding which companies to pitch to, analyze their acquisitions to see if your app would fit into their growth roadmap and overall business model. You’ll want to limit your initial list to the most relevant companies.
Once you have your list of companies, visit each one’s website and see if you can find contact info for the person who handles business investments. If you’re unable to find it, you can usually find these people on LinkedIn and reach out to them through that platform.
Once you find out who to contact, it’s time to start pitching! This can be messages on LinkedIn, emails, phone calls, or even in-person meetings if the potential investor is in your area.
Remember, when pitching your app idea, don’t give away too much information about your app, and everything you do disclose should be under an NDA signed by both parties.
Ready to turn your app idea into a reality? Reach out to Strides—We build, launch, and scale app projects for startups and business owners.
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