The good news is that app development has become democratised in the last four or five years. If you want to develop a cutting-edge app for your business or bring your latest mobile gaming experience to a new audience, there are plenty of high quality companies out there who can help, even if you don’t have any coding experience yourself.
Of course, developing a cutting-edge app does cost money. And there’s not just the cost of development but also the need for a strong marketing campaign to get things moving and promote downloads once you’ve got your app in store.
For small businesses and individual app creators this can be a big problem. If you’ve got an idea for an app that you think is guaranteed to go viral or even change the world by disrupting the latest technology, the first thing you’re going to need to find is that all-important investment capital.
There are plenty of options for this too. You can crowdfund from the general public through various sites or get serious business investors in on the ground floor by offering a share of your business or other incentives.
It can be daunting, even if you have the best idea on the planet, to go down this route and you need to be certain what you are getting into. But it’s a great way to fund your app development.
Is Your App Right For Funding?
Before anyone is going to invest in your app, they have to be sure that it’s going to be successful. The ones that tend to attract the most funding are gaming apps, apps that work with social media or communities and those that have an original slant and capture the imagination.
You have to be realistic about how your app is going to appeal to potential investors but, if you think you fit the bill, the next step is putting together a clear business and development plan.
Creating Your Plan
It’s not just about the design of your game but what you are going to be offering potential investors. Be careful about giving too much away in the first place, however, leaving yourself with nothing once the product is launched.
You need to understand that investors are not just going to open their cheque books and pay you cash unless you give them a compelling reason to do so. That means you have to put a strong plan in place, written in an entertaining and informative manner that gives investors the chance to quickly weight the pros and cons of your idea.
Choosing Your Funding Site
You may want to go for well-known sites such as Kickstarter or Indiegogo but there are a growing number of business investment sites out there that might fit your needs. It’s all a question of doing your research and taking a closer look at what’s on the market.
One thing you do need to look at is the success of funding on these platforms and how many people are reaching their targets. Dedicated app funding sites like AppsFunder.com may look great on the surface but may not exactly fit your project – recent figures suggest that crowdfunding success has declined on the platform over the last 12 months.
Top sites to explore include:
Our advice is to take your time, both in choosing the right funding site and avenue, as well as putting your plan together. Check out what other developers are doing, how successful they are and pick the best practice you spot along the way.