Every Mobile app startup starts with an idea, and it goes through the Mobile app development process to become a reality. The fuel that runs the development process depends on your app funding. Three are two ways to approach this: become an indie developer or raise money for your mobile app startup. If you have considered going the fundraising path, then you are in the right place, so let’s get started.
In this guide, you are going to learn some of the proven simple steps or ways you can use to help you raise funds for your mobile app startup. There are many mobile app development companies to choose from; you can trust 5280 Software LLC to guide you in the mobile app development process.
Importance of App funding for a Mobile App Startup
Startups and early-stage ventures rely on outside funding to help them initiate the mobile app development process. The money they raise will help in building the features that they want and provide the right budget for marketing and maintenance.
The mobile app development industry has many players and you need to choose the best company to guide you in the mobile app development process. Here are simple proven steps or ways you can use to raise money for your mobile app startup:
Develop an effective App Elevator Pitch
You will need an effective Mobile app pitch to clearly describe your app to someone. This type of pitch takes the assumption that you are riding an elevator with your investor and in that short period you have to describe the concepts of your app. You need to convince your investors within the first 90 seconds of meeting them.
Hone your app pitch and make it short but informative. This tip should not only be applied to your speech, but it should also reflect on everything you write; including your emails. You should include information about the mobile app platforms you intend to launch your new app on as well as your mobile app development strategy.
Honing and Refining an App Idea
The first thing investors will want to see is your value propositions. Therefore, you will need to find the “uncontested” market for your app. Finding the right market for your digital product requires that you understand your competitive landscape. Your choice of mobile app building platform and mobile app design process are important to decide at this phase.
You should be familiar with how other apps solve the same problem that you are tackling. You should also consider other alternative offerings in your space, especially those that may not be app-focused. The app development process needs to start with the question of what problem will your app solve or how it differentiates itself from competitor mobile apps.
Create a Brand for your App
For your app idea to stand out, it must create an identity for it. Branding your app makes you look more legitimate, which provides the right foundation for your app. Creating a domain name, logo, and landing page for your app shows that you are serious about taking your product to the next level. This way, your investors will know that you are serious and putting enough effort to see your app idea turn into success. Top app development companies like 5280 Software LLC can help you with every stop of the mobile app development lifecycle.
Know some Investment basics
The best way to improve your communication with investors is to talk in a language that they understand. If you are going to talk numbers, then you would better familiarize yourself with some investment basics. You need to grab some basic knowledge of investment stages such as the seed-stage investment or seed financing. You can also educate investors on the research you have done on app development companies you think might be best suited to achiever your app development strategy.
Target mobile app Seed-Stage Investors
You need to look for investors that are interested in digital products and willing to get involved with your Mobile app startup at an early stage. Start conversations with potential investors such as your family and friends, angel investors, early-stage venture capital firms (First Round Capital or True Ventures), or startup accelerators (Y Combinator and Techstars). Many app developers, such as 5280 Software LLC, may also have contacts with investors to share with potential clients.
In some situations, you may need someone to introduce you to seed-stage investors interested in mobile solutions. Therefore, you need to improve your communication and negotiation skills for this to pull through. You do not have to send cold and generic emails to people with less interest in the mobile industry. Research and learn how to craft the perfect emails for investors. Some mobile app development agencies such as 5280 Software LLC may have resources to get you introduced to investment groups.
Instead of business plans, most entrepreneurs are now using pitch decks to woo investors to fund their app ideas. You can choose to do your presentation with 10 slides or more in a span of 20 minutes. The rule of thumb here is that your pitch decks should be tight. You should mention how you plan to acquire mobile app users as well as estimated app development pricing.
The best way to create a pitch deck for investors is to find inspiration from companies that successfully raised money using this method. Learn and draw inspiration from the best startup pitch decks. You can find some examples from sites such as Slideshare. The key to successful mobile app development projects begins with the proper pitch deck to land funding.
You can go the extra mile by pitching with an app demo. When you think about it, an app demo is more promising compared to the early prototype. Giving your investors the look and feel of your app idea will increase your chances of getting the funding you need. With the help of tools like Flinto, you can easily build high-fidelity user interfaces for your app demo. There are other app development platforms for use on prototyping such as Invision. Make sure you have the best mobile app ui designer you can find for this task.
Prepare for your presentation
If you take the TED talks presentation approach, you will need to practice more than 200 times how to make a 10-to-15-minute presentation. You will need to put time and effort into developing effective material for your pitch. A perfect pitch is one that you can present without slides or your App demo. Be sure to be versed and can speak easily and with confidence about the latest app development best practices.
Anticipate questions that investors might ask and find suitable answers. You also need to know how to respond if you get a question from an investor that you don’t know the answer to. If you still have doubts about your public speaking skills, then it would be best that you study reliable resource materials that will help you communicate your elevator pitch more clearly. You should have a strong speech about your app development idea.
Learn from rejections
You are going to get more “no” responses than yes. Do not let every “no” you hear discourage you but seek to understand the reason behind it. If you find the courage, you can ask for insights on how to improve your pitch or app idea in preparation for the next presentation.
You should learn to develop a mindset of making lemonade out of lemons. Developing a continuous-improvement attitude is the best way to go.
About 5280 Software LLC:
5280 Software LLC, located in Denver, Colorado is a premier software development firm. We have worked with a variety of clients over the years. Our expert team of developers have helped small to medium sized businesses, startups, as well as enterprise level clients such as RingCentral. If you are looking to build a mobile app, we can deliver flawless apple ios mobile apps as well as android mobile apps. These apps can be designed for smartphones, ipad and android tablets, wearable such as smart watches, and even smart TVs. The power of a well designed app to gain new customers is key in today’s market. We help execute your app development to perfection. A website is powerful tool for branding and showcasing the products or services you offer. We can build you a WordPress, E-Commerce, or custom coded website at competitive prices.
Once the site is launched, or if you already have a website, we offer Search Engine Optimization Services to achieve higher search engine rankings. Contact us today with your website’s URL and we will put together a free SEO analysis of your site with pricing and timeline to get your site ranked on the first page of Google and other search engines. Our experienced and dedicated team has a proven track record and provide regular reporting on tasks completed and keyword movements during your SEO project. We help businesses and companies gain rankings on all the major search engines. This can be achieved when you choose progressive web app development and web development agencies such as 5280 Software LLC.
Many businesses use multiple software packages and services to run their business. We offer custom software development services to streamline your business process. We have developed custom dashboards that can pull data from multiple points and display all this information in one place. Do you use an off the shelf CRM? 5280 Software LLC can customize this CRM or even build a custom CRM from the ground up based on your requirements. If you need a custom Windows desktop or Mac desktop application, feel free to reach out to us. Also most new mobile phone apps include the use of APIs; especially when it comes to native app development. We implement APIs on a regular basis; for mobile as well as web-based software.
We can improve the understanding of your business and marketing outreach through the use of analytics. We offer a complete solution with the latest technologies to solve your obstacles and scale your customer base. From the start of any project (and at every stage, step, phase, and release) we focus on the client and always ask for feedback while we develop the project. Creating a quality solution for a business or startup is our end goal. Our strategy and processes are based on solid communication with our clients.
All projects are built according to a clearly defined scope of work. If you need assistance with scope creation, we offer this as a service. This scope of work will be used in the provided development contract. Make sure whomever you hire for your project provides you a development contract with clearly defined pricing, development timeline, payment schedule, and deliverables. We would like to learn about your project and help refine your scope of work. By focusing on perfecting the scop of work, it ensures you have the maximum amount of mobile app users as all of the features that could be thought of are implemented from the beginning. 5280 Software LLC is here to support you through the entire mobile application development process.
If you have an idea for a mobile app, please emails us your full name or company name and we will send you a signed NDA. We send NDAs to all potential clients to guarantee your ideas and documents will be kept in confidence. Once an NDA is in place, feel free to book a free discovery call. You can also fill out our app development questionnaire to share the details of your project before your call. We are the leading firm specializing in building solutions for the web, iphones and other smart devices including IOT. Our company can create a custom solution on a variety of platforms using the most current popular programming languages. Weather it is a cross platform hybrid app or a natively programmed solution, we have you covered!
We look forward to speaking with you about your project. Learn why clients around the world trust working with 5280 Software LLC. We support our clients from mockups, sketch, wireframes, and graphic design, development, product launch and ASO when we publish your app, and even code updates at a competitive price point. Feel free to visit us on our social sites Facebook, YouTube, Twitter, or send us a LinkedIn connection request to learn about our offers to get answers to your questions.
Let us turn your idea into reality!