You’ve got a great app idea that could turn into an app business… but where do you start and how do you concretize an idea into a functional prototype?
Whether you’re an entrepreneur with a solid business plan, or simply a tech savvy person with a grand idea, you’re most likely trying to figure out how to get funding to develop your app, business or software idea into a prototype or tangible product and bring it to market.
At some point in their life, every entrepreneur has been in this same exact position: trying to get their business up and running but not necessarily having all the capital they need.
If that is your current situation, this article will help you understand the right way to get your app idea off the ground, starting from the development of an idea, to building a prototype which can then be used to attract investors into your project and to bring it to market.
Bootstrapping: Put your money where your mouth is
Before trying to get any investor to support your idea, you should definitely look into using your own savings or your close circle and relatives for support. Your pockets might not be as deep or provide as much help as you need, but with expert guidance, modern technology, and lots of will power it is very much possible to bring an app idea to life within a reasonable amount of time.
If you’re not willing to invest into your own business idea ask yourself: Why would anyone put their money into your business if you don’t believe in it enough to use your own money?
It is also important to keep in mind that the bigger your own financial investment is, the larger your share of the company will be. As you grow and really do need to look for backers with deeper pockets, you may be giving up a portion of the business in exchange for funds.
If you’re still the biggest financial stakeholder, you’ll always have the most power and your voice and opinion will hold the most weight during important decision-making. Investing your own money during the seed funding phase will pay off later if the company becomes successful.
Building a mobile app prototype:
An app prototype is an first stage visual mock-up which shows how the mobile app will look like on a device. It demonstrates the mobile app’s fundamental design and function, but it doesn’t contain the working code.
A mobile app prototype could be either very basic or very complex: Some companies draw simple sketches on paper but the modern norm is to build high-fidelity digital models that can be accessed on phones and computers.
Once your idea is more clearly defined, an app design and development agency like Yamm Software can help you by further clarifying your idea and business plan, but most importantly by preparing a prototype of your future app.
Thanks to a ready-made prototype, people and potential investors will have a much better idea about the purpose of the app you’re developing and what target audience it is supposed to reach.
Prototyping is a crucial step, in the app development process that will help to save both your time and money while keeping you and the agency on the same wavelength throughout the project.
Prototyping can be broken down into 4 simple steps:
- Identify the App Goal & its Key Features
- Sketch Primary Screens & Wireframing
- Turn Wireframes into a Prototype
- Make the Final Touches & Publish
Most of the actual work on the design of an app takes place after the prototype has been approved by all parties. The prototype helps developers to understand where links between the screens are. If the client is satisfied with the app prototype, then software engineers can start writing the code for the app.
Getting seed funding as a startup:
No one buys a product or invests in something without seeing or testing it. Proof of concept (PoC) iis by far one of the most important steps in getting seed funding for your mobile app.
A fully functional prototype could very well be the thing that makes investors put their trust and money into your business idea. It shows you’re invested in the idea, and that you have a clear vision of the business you’re getting into.
Before starting to meet with potential investors, make sure you are well prepared, professional and confident: Your market research and validation should be on the tip of your tongue. You should be able to answer all pertinent questions and more. Investors want to know if you and your team are the right people to manage and grow the company.
How and where to find investors to invest in your app?
Reach Out to local associations, startup and entrepreneurial meetups and events. No matter what country you are from, the chances are that a local angel or VC investor association already exists in the city or area. Get in touch with them, but don’t stop there, look up your local chambers of commerce and other associations, connect and ask them for advice. Get in touch with some of their members.
Another avenue is to look for app contests. Some organizations, companies, or even startup incubators will hold pitch contests for mobile app ideas or ideas for startups in general, and the winners will often take home prizes in the form of capital.
One more option would be crowdsourcing on a platform like KickStarter or IndiGoGo: crowdfunding is actually a pretty innovative way to get seed funding. Although some people look down on it, there are multiple upsides to using crowdsourcing platforms to fund your app idea. First of all, a successful crowdfunding campaign can build a lot of hype and PR for your business before it’s even off the ground, which is a great tactic.
The earlier you can get your product shared on social media, retweeted or talked about among friends, the sooner you can make back the funds you’ve invested and start making a profit from your app/product.
Want to turn your mobile app idea into reality? At this stage you don’t need any big investment or seed funding. Our experts at Yamm Software can help you develop your idea into a prototype, and eventually into a fully functional mobile app, ready to launch. We offer solutions customized to your needs, your budgets, and your goals!
We turn ideas into reality! Sign up now for a free 30min consultation call with one of our project managers and get started designing and developing your mobile app idea!
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