Do you think mobile app development is a cakewalk?
If yes, you must THINK AGAIN!
The journey of developing an app from just an idea isn’t that simple. Many entrepreneurs have terrific app ideas and fantasize about building top-notch functionalities; however, not all of them are successful.
The reason?
Because an app idea is not merely enough! Sure, ideation and a vision are the two must-have elements for building an app, but funds are equally important.
Finding accurate investors for your business is crucial for transforming your idea from fantasy to reality.
We also want to burst a myth that ‘having a baseline idea would work.’ In fact, you must conduct detailed research on your idea before pitching it to the investors. Only when you have a well-researched idea and the zeal to develop a product that acquires a competitive edge will get you more and more investors on board.
What to Do Before Pitching Your App Idea to Investors?
We know the question is still striking you at the back of your head, so we have decided to talk about it in detail.
Are you excited? Take a quick peek!
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Determine Your App’s Niche
Don’t you think there’s an app for almost everything? Everything is at your fingertips from shopping to games to healthcare, and it is precisely the reason not to develop an app similar to the one that already exists!
How will the investors benefit from the same when an alike app is already in the market and is doing quite well?
Think and begin your research. Study your competitor’s strategies and what they are missing to grab the opportunity. It is vital to prove to your investors that you’re offering a unique mobile app idea that will add value to your customers’ lives.
In simple words, nobody would want to invest in a basic or general app. Thus, you must answer all their questions, like your target audience, the problem your app would resolve, etc., to gain their confidence.
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App Branding
Now that you’ve figured out the purpose of your app, it’s time to build branding strategies. So, what would define your brand- maybe a logo?
That’s correct!
Invest some time into designing a brand logo that screams the meaning and objective of your brand. However, do not compromise with its quality since it’ll be the foundation of the entire development process.
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Emphasize Investment Basics
It is not enough to only research app development. For example, have you wondered what you would revert if your investors question you about the funds you’re looking forward to acquiring?
Don’t stare blankly at the screen!
It is essential to learn more about the funding procedure, which will also help you understand the best capital type and further investment stages.
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Build a Revenue Generation Strategy
After you have taken your lessons on investment, it is time to build a revenue strategy! After all, who wouldn’t want to generate higher returns?
You must have an exceptional revenue generation pitch for the investors that makes them believe your confident vision. Thus, only then you’ll have higher chances of attracting investors that’ll fund your app.
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Create MVP: The Final Call
For all those unfamiliar, MVP is the basic version of a product with minimal features and functionality. The idea behind the creation of an MVP is to give an idea about the operation of an app for clear understanding. Notably, when the investors get their hands on a physical product, there’s nothing more that can help them understand what you really want to promote.
Do you agree?
Have You Heard About Funding Rounds?
Each day we read about one or the other startups acquiring millions of funding in its Series A, Series B, etc., funding rounds. But are you actually familiar with what it means?
No, right?
Now that you are all set to present your idea in front of the investors, startups have to go through a few funding rounds that are crucial for the business. Here’s what you need to know about each of them:
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Pre-Seed Funding Round
Now is the time to turn your floating idea into an app by gaining capital for the same. The pre-seed funding round is the first and informal stage, as most of the funding comes from your savings, friends, or family. The funds raised in this round are used to set up a founding team, regulate research, develop MVP, and more.
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Seed Round
The seed funding round entirely focuses on fulfilling the initial requirements of a business. In addition, investments are needed for further research, testing, and to hire a professional and accurate workforce.
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Series A Funding Round
Have you already reached this stage of funding? Now there’s no looking back since you have paved the way to success and will bear its fruit in the near future.
Reaching this stage defines the objective of your brand and has set a benchmark for your competitors. Therefore, you must emphasize optimizing your trade and product.
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Series B,C,D, and More
Once you’ve made it through Series B and beyond, it marks the acceptance of your product in the market. However, you must keep making improvements to build a stunning reputation.
Have You Achieved the Funding Milestone?
Let’s celebrate the fact that your app has acquired the funding it needs. What next?
YOU MUST NOT STOP!
As mentioned above, there’s always scope for improvement; therefore, you must continue to introduce new elements to the app that helps attract more and more users.
Indeed, it is a rollercoaster rise to turn a vision into reality; however, as long as you’re motivated to invest your time and money, there’s nothing that can stop you from climbing the success ladder.
In a Nutshell!
We have saved the best for the last! One final and one of the most crucial stages also involves approaching a reliable brood of professionals to continue your success journey!
Thus, Techugo is a top mobile app development company in India that has developed top-notch mobile apps for some of the renowned brands worldwide. Be it brainstorming or the post-production stage, our professionals have got you!
How about a session over coffee?
Schedule your first consultation today!
