To find investors for your app is always the most formidable challenge any entrepreneur may face. As a founder, you may know everything you need to, yet you come across several gaps. You need a catchy and the most enticing pitch to woo investors. You gotta show them that your idea has great potential. How exactly did you manage to do this? Do you think you need a great pitch to present before the investors?
Let us go straight into the answers to all your questions. Each point is elaborately explained to help you know how to prepare the right pitch and how to set yourself apart from your competitors and show your investors that your business idea is worth investing in.
Present Project Viability With Market Research
Great ideas are not what investors look for all the time. Your next big idea must consist of a passionate visionary that is well-planned. You need to show them your extensive research work, how deep your vision is, and how the project is ready to hit the ground running. They must be extremely confident that you can execute this idea, create a wonderful app and make it go with sustainable profits in the long run.
So the very first job is, to begin with, the research. The tangible groundwork needs to be put up and you must know the exact market potentiality of the project. Your app must solve the core problem of the target audience. How effectively do you solve their problems? Answering these questions is the groundwork you need to do. Lots of research, cracking hard numbers, and data analysis are all that grabs the attention of the investors. You need to be damn serious about what you are showing to your investors.
Take interviewers, find the results, do surveys, and prepare an impressive statistic analysis of all your findings. Present this report to your investors. Do this in reliable ways. Online survey tools like SurveyMonkey is always there to help you. Pay a minor fee and conduct an online poll covering adequate people. This will give you tangible proof of the concept you are working upon. Circulate simple surveys amongst your friends and acquaintances and gather enough data. Start a blog or a microsite and post short articles that are interesting and that talk about your idea. Take the help of people who love to engage with your idea and can talk a lot about it.
These measures however it may take time, this groundwork bring sureshot results in the long run. It will show the investors that you are quite serious about your idea and toil enough to pull it off for great success.
Find Your Niche
Apps are really a good business you can ever choose. Everyone knows it very well. Your idea may probably be built into an app in the least similar if not in an exact manner somewhere. So, face the brunt, your idea may not be a great discovery or an invention. Let us face this. Investors may not like to invest in similar ideas. They won’t prefer to invest in other ‘types’ of the app. Find something that is unique and that can differentiate yourself from the competition.
Apart from choosing another travel app, see if your app can cover women travelers exclusively to ensure safety and security. Apart from another e-commerce app, find an app that can connect with the local stores to support the local businesses that can help enjoy the convenience of the ecommerce.
Define your suitable target audience comprising a specific niche. It is not all about wooing the investors, but it is all about building a sustainable business that has better longevity and traction as compared to your competitors.
Investors get intrigued by a target-specified app idea. These apps have great value and are identified at a different level. Users find that the app is exclusively designed to fulfill their needs and hence, they like to engage more with the app. At the onset of widespread generalization, everyone likes exclusivity. Knowing and understanding all this, investors get ready to invest in such niche ideas.
Prepare Your Best Elevator Pitch
Every investor may not be willing to deep dive into your idea at the very first instant. With very few minutes available to present your idea, you need to be well-prepared and use the given time very wisely. You can give spontaneous answers, clear concepts, and talk about the real purpose behind the idea in these few minutes. You can stand to land a meeting where you will get enough time and attention to present your idea.
So be ready with an elevator pitch. A pitch as concise as 30 seconds covering your idea and the ultimate purpose. So work and rework until you are not sure of what you are going to present in front of the investor.
Do not mistake your elevator pitch as a storytelling opportunity. However passionate you are with your idea, you need to clearly describe what your app will do for the users and why they would sit and download and use it. Keep it simple, precise, punchy, enticing, and meaningful. Focus on the larger purpose and the biggest value it can give to your investors. This can be your biggest selling point. Once you get ready for all this, your elevator pitch can land you an investor up close and personal.
Create A Prototype
It is always good to show rather than say. The biggest takeaway to get any type of investor. However good you talk about your idea in the most effective communication pattern, but to really show your commitment to the investors, you need a prototype.
Fancy words will never save you. Building a prototype is very easy. Build your unique prototype if you are a developer. Or contact a suitable app development company to build a good one for you. Simple prototypes get passed quickly due to their affordable prices and extensive work done upon that to show the investors how your app is going to work.
Similar to a low-fidelity representation of your app, a prototype is much essential. This step can give you a great chance to show off your app’s design, logo, and branding. You can make all this possible only if you are determined to work on your app’s design, layout, and basic features. If you have a prototype to show it to your investors, you are representing your app features, your hard work, and your commitment towards building the idea into a reality. You show your investors that your project is worthy and dependent enough.
Prepare a Compelling Pitch Deck
When you are all ready for an investor meeting with your brilliant idea, the best research, and a solid prototype, what works more is your pitch deck. This can be typically a PowerPoint presentation that runs on the screen highlighting your key points as you keep explaining.
Do not make your pitch deck a transcript of all that you are saying. Make highly visual slides that speak sense and are concise. Use them for showing charts, graphs, and diagrams. Highlight the most important keywords. Consider this as your golden chance to show off your app’s branding pitch. So, what you need is to invest enough time in preparing a logo, a slogan, and a color theme to establish credible branding for your app. Give your app a suitable personality and ensure that investors are well aware of how prepared and dedicated you are to make this idea a potential reality.
As you follow all the above steps, the investors will find that you have a great idea for an app. Not only that, but they will find that you are a go-getter and an astute in your profession. You pull the things off to make it happen. The startup history teaches us that apps with great execution matter more than apps with a great idea. Even if your idea is taken by the world, the purpose of execution that you have created sets you apart from the rest of the world. Investors will be heartily willing to fund your awesome project.