Nothing is more frustrating than having a great mobile app idea and not being able to develop your idea so that it can be marketed. This is especially true when you’ve documented your idea and gone into great detail in defining its functionality. Maybe you’ve gone as far as to compare mobile app developers, making notes of those that offer the best deal in regards to price, but who are still reputable and experienced. But, no matter what you do, the bottom line is still the same – you just cannot afford to have your smart phone app developed and marketed.
What to do? Don’t give up yet! There’s still hope. Here are a couple of ideas you may want to toss around.
Revenue-sharing with your developer. While not all mobile app development companies do this, some are willing to “share the wealth,” in other words, they may be willing to lower development costs substantially in exchange for a cut of future revenue the app may bring in. Experienced developers are usually very adept at determining whether an idea will really take off and be successful. However, realize that there are more mobile app developers who will not participate in revenue sharing than those who will, but it never hurts to ask!
Look for investors. When you just can’t get the funding from your bank or a family member, consider finding “angel investors.” This is the name typically given to those who invest in technology related business. Search LinkedIn for potential investors using search terms such as angel capital, investor partner, venture partner, mobile application, etc. There are also websites which pair up venture capitalists with those who have innovative ideas. Some of these include Gust (formerly Angelsoft) and Go4Funding.
Before you do either, be prepared and have answers to a few questions you’ll no doubt be asked. For instance, what kind of marketing plan do you intend to put into place? How will your mobile app make money? Is the potential market for your application small or large? What is your value proposition, and how much competition is there currently? Be prepared for the hard questions and you’ll be far more likely to find an interested investor.
When you’re creative enough to come up with a unique mobile app idea you believe will be hugely successful, there’s more than one way to get it developed and on the market!Google+