In today’s digital world, every business is gearing up with an app idea. But, with the ever growing competition in online ventures, there has to be a potential in your idea to reach the targeted audience.
Only some app ideas succeed and become a benchmark, like Uber, Amazon, Flipkart, Spotify, and other behemoths.
There is a huge difference between Then & Now.
When the digital space was all new, people were adapting to new ways, and so the startups succeeded in a short span.
Now, in today’s cluttered online space, you will have to work hard to make your identity & brand. As there are already set standards of app ideas & profit generation in every genre, now it takes a lot of work to get the nerves right.
In this blog, we will be specifically looking at how will you sell your app idea. Now, if you are that confident in your idea, then go further and read the steps carefully.
You believe that you are creative. Confident enough, right?! But to ace in the online world, one needs more than just a creative mind. You have to have a perfect blend of problem-solution, tech & innovation, and an idea with constant growth.
What new will you bring on board? This is a burning question that every investor or fundraiser will ask you. The one who has a unique idea with a proper app business plan can actually lure potential users and investors.
Let’s get into how you will approach some of the best companies with your app idea. Followed by this discussion, we will also shed some light on steps to help you make millions from your app idea.
How will you sell your app idea to Apple?
Apple, the name itself, gives us goosebumps. If you are confident enough, then why sell the app idea to Apple? In that case, Apple has no such policy of hearing any startups or enterprises and taking their ideas. They are self-sufficient & do engage in buying a whole business in case of their interest and growth.
‘Your idea is their business which they will take it without giving you credit or asking your concern on it.’
For example, Siri- the voice assistant, was bought by Apple in 2010. Therefore, if you believe that your app has the potential to fit into Apple’s plan, you must create a high-quality and well-liked product. If you’re lucky, Apple might buy it.
Now, let’s talk about another tech giant.
How will you sell your app idea to Google?
As of June 2023, the Google Play Store has 2.6 million apps. It is the largest app store.
If you have an app idea, you need to check out your competitors on the Google Play Store.
For a fact, Google has not stated about not accepting ideas. They do accept the ones that are really good and have a scope to grow via an online form. But here, too, expect to avoid any consideration or money in exchange for your idea.
To get into the eyes of such big techies, you need to work on the quality of the app. Another option is to make a similar app that the rivals are making and sell it with some outstanding features. For example, Google bought the Israeli firm Waze in 2016. A navigation app with 50 million users was it. Waze offered users the chance to communicate and report on the current state of the roads and traffic in real time.
How will you sell your app idea to a Company?
What better example than Shark Tank? Billions of enterprises are ready to invest in a potential app idea. Don’t worry if you are not able to crack the ones in Silicon Valley. You still have scope to flourish in the online world.
As of September 2023, there are over 1200 unicorns operating from around the world. United States, Singapore, Australia, the U.K., etc. And here in the graph, we have mentioned the top 5 unicorn firms at the moment in the world.
You have to research a bit and get to the firms looking to invest in your app idea. As a matter of fact, you can easily get a contact via LinkedIn. You have to search “Investment Manager” of a firm and get to them with your business plan.
It could be anything right from food delivery to real estate, but it has to be bang on to impress the best ones on the table. They can ask many trick questions like what will be the real estate app development cost? Why did you choose to go for a certain feature? What is the scope of your realtor online business? And the like. Be prepared to face any question related to fundraising, initial money, and future idea expansion.
Now, how will you sell your idea for millions of dollars? Let’s check it out in the guide below.
#1 Conceptualize your app idea
Create an app business plan. Get the details out on paper. Write from app name to design and monetization strategy. It helps you to get the business concept right and share it with potential investors. You need to have a precise idea of everything. A 10-year growth plan, along with the necessary app changes, should be jotted down in your document.
#2 Who is your potential user & market?
You need to study your overall market with a potential user base to have a strong business plan at a place. If you are targeting a specific genre like real estate, then you have to study which age group is likely to buy properties. And with it, what is there on the tech front which that specific market is yet to discover?
- Is there any other app like you in the market?
- In which app stores are they available?
- How many people have downloaded them?
- Which areas are they most well-liked in?
Get these answers straight for your app idea to ace the online arena. Study your competitors & users keenly and make the changes accordingly. Thus, ensure to get the right direction with the right set of audience.
#3 Develop your app
Any great tech company like Apple, Facebook, or any other will invest in your working model. You need to develop an app to present it with your business plan. A working business model is always better to understand than a plan on paper.
How will one get an idea of your features & functionalities? More of it, this has to happen in front of you so that it becomes a proper demonstration for the fundraisers.
#4 Launch and grow the app
Launch your app at the time documented in your business plan. Test it thoroughly in the market. You can also go for an MVP version of your app idea to test it among the audiences. Grow with your idea with time, and the investors are bound to come to you, followed by your success.
Do not violate any app store rules, or do not hamper your online credibility by getting into arguments with the users. You have to keep your image clean to get to the good books of an investor and user. As we say, ‘word of mouth’ does make its way through the online world, too. You will get lucky with time as things take time to cook. And so will your online presence take time to become a renowned brand.
Alas, Ensure that your quest to find a good investor is ON. Silicon Valley is one of many places where you can pitch your idea. There are many good companies out there waiting to fund an app idea like yours and expand their branch. Pick a firm that has a relevant business as yours and approach them with a good user response and reviews of your launched application. With a good tech team, market strategy, and an ever-growing app idea, you can win the digital space in a short period.