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How to Sell an App Idea: Common Mistakes and Life Hacks

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app idea

You have a great idea, but you don’t know how to fund it? Let’s figure out how to sell an app idea, and what you should definitely not do.

The mobile app market remains one of the most promising areas for development, but creativity and experience alone are not enough to be a good market player. In many cases, there are not enough funds to implement an idea. “Let’s go get some investors!” the devs decide, and this is where it gets difficult.

When trying to sell a product, app developers often make mistakes at the initial stages from planning to presentation, which may put an end to even the most extraordinary idea. Everything has its reasons.

How to sell an app idea: Idea = idea

If you haven’t started the development stage yet, this is what awaits you.

Yep, an idea, so what?

The idea of an original mobile game doesn’t look like that until it’s converted into numbers. Make a plan, some estimations, etc. If you haven’t framed your idea into a potential product, investors will find it not viable and even risky.

Competitor analysis: Do it now!

Explore your niche in an app store. It’s good if you understand right from the start who your main competitors are and can elaborate on the differences and unique nature of your product. Make sure your app idea is relevant to a marketplace.

App prospects: Estimate the profit

It’s best if you have a detailed design of your app as well as some digital tables, numbers, calculations, and descriptions. Then, if necessary, you can present your product anytime.

How to sell an app idea: Idea = idea plus development

The situation is slightly different if you’re already in the process of making your idea come true. You and your team have already bypassed many pitfalls, and you have a grounded vision but need some investment; therefore, it’s not the best time to relax. It is important to be able to pitch your project. Pitching as a presentation of an idea to investors is a good way to provide reasoning for your product. This is the stage where many aspiring business owners give up.

Try to ground your presentation on the following points:

  • the ‘pain’ that your product is covering;
  • detailed business model;
  • marketing strategy;
  • the rationale for how much money you need and for what.

You also can include details on:

the project development stage to show that you are not unfounded;

team professionalism and responsibility. A promising professional as such will increase the odds of success;

the value of your app.

These are the milestones you may want to consider. The remaining points will overlap with those we named in the previous scenario: make sure you show the investors your market analysis report, and explain why your app is competitive. The plus is that, at the development stage, a lot of things become clearer as time goes on.

The nuances of filing and some more useful details:

If the purpose and format of your presentation contradict each other, your idea/product is less likely to be accepted. Two things are important here: if you speak to deliver a presentation, the less text it has the better, as it can be distracting. If your presentation is strictly visual, make sure to provide detailed info so that your potential investors don’t have many questions left.

Technical details of your app are less interesting at this stage but the conditions and expected profit, as well as the prospects of your product, should be disclosed;

Study life hacks on how to draft motivation-driven presentations. For example, you can use a call-to-action approach, but make sure your presentation is not overloaded.

Where to look for funding?

When it comes to app development, people often keep nurturing their illusions. Even if you have a unique competitive product, this does not mean that people will want to invest in it. Moreover, it is still too early to count on attention from giants like Apple or Google. Your path lies with accelerators and start-up platforms: here you are more likely to find investors. Crowdfunding is a good option too. By the way, by organizing a crowdfunding campaign you can acquire a potentially loyal audience in no time.

How to sell an app idea to Apple and/or Google

Stories about how in 2012 Facebook acquired Instagram that no one needed then, or the meteoric rise of TikTok, excite the minds of startup owners. As a result, many set a bar too high, which leads to burnout. The Internet is replete with queries like “how to sell an app idea to Apple”, but they are not entirely correct: before any dialogue with Google, Apple, etc. becomes possible, you will need to take care of the quality of your product and promote it right, bypassing competitors. There are about 2.5 million Android apps published on Google Play! You will need to justify that the store needs your product.

Tip: With no competitor analysis, it’s worth checking the niche you’re targeting. Even if you do it manually. Then you’ll know for sure if your app is that unique.

Frankly, it’s best not to try to contact either Apple or Google at first. This may turn out to be quite a bad decision. Apple, for example, has a filter for queries that are not motivated by the company (they talk about this in their policy). So, while you are waiting for your idea to be considered, your email might have been long deleted or be sitting in their spam folder. But there is a worse detail: Apple reserves the right to claim any such “unauthorized” idea as its own. Yes, fame and profit may come, but not to you personally, and any attempts to challenge this will be useless. Google, in turn, does not notify you that your idea hasn’t been accepted. And if it has, this goes the same way as with Apple: all your ideas will be considered the property of the company. Well, you may want to reassess your level of altruism before you email those guys.

If you find yourself intimidated, feel free to check out one of the statistical studies confirming the interest of large companies in small products. Your app idea is definitely worth selling! Just act wisely and consider all of the above details.

 

People Also Read: Startups 101: How to Turn an Idea Into a Successful Business

People Also Read: Simple Steps to Validate an On-Demand Delivery App Idea

 

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