Every individual has a phase in their life when they think they have a Billion dollar ideas and it will turn the tables for them. Some of these ideas are genuinely unique and amazing. But, they don’t actually reach the stage of execution because of the lack of funds. For those startups that actually have the potential to change the world and life of the app owner, there are ways that can generate the required funds. On one hand where there are people with great ideas and low funds, there are also people with abundant money and not-so-creative ideas. Both are in search of the others. Sieg partners can help you know the best ways an amazing mobile app development idea can make money from the market.
As per Statista, the USA created 3,114,111 new jobs in 2020 alone via startups.
Do you have an out-of-the-box mobile application idea and want to accumulate the funds? Here are some of the best ways to get started.
Popular Ways to Raise Funding for Your Startup Mobile App Idea
1) Build an MVP
So, let’s burst the bubble that investors will automatically invest in your mobile app just because you have a great idea. No, it doesn’t work that way. One of the smart ways to present your idea to the investor is by building an MVP (Minimum Viable Product). Here you create a basic version of your app and pitch it to the investors. They will understand the concept and it will give them the confidence to put their money into your idea.
2) Crowdfunding Campaign
It is one of the easy ways to make money for your project. It is an opportunity for the business incubators with no way to fund their idea. Not every idea that is submitted to the popular crowdfunding platforms gets funded, but it is a chance you can take. With proper pitching, you can achieve a bonanza for your application. All you need to do is pay a small fee to the crowdfunding platform. You have multiple options to pick from that suit your project. You can fix your required funding amount and if you fail to achieve your goal, the amount will be refunded to the investors. Another option is even if you fail to achieve the set funding, you can keep the funding and use it to start your project. Kickstarter proves to be one most popular crowdfunding platforms you can go for.
3) Get Donations On Your Website
When you register your idea on crowdfunding platforms, there is humongous competition and sometimes your idea gets lost in the pool of other ideas. Also, there is also a fee to bear. To avoid these hassles, you can create a website and promote your app idea on the website. Ask to keep a form for the users to submit a donation if they like the idea. Offer them a gift, or monetary compensation once the app rolls out.
4) Funding Content
Ever heard of Shark Tank? If you wish to become a successful entrepreneur, then hearing about such a popular contest is not enough, you need to watch, learn, imitate, and do what the participants do and do it better than them. It’s not just Shark Tank there is plenty of other contest sponsored by technology companies, universities, and angel investor networks that gives an opportunity to the newcomers to make money.
Don’t let lack of money stop you from making millions and billions of bucks. Pick the best ideas from the above-mentioned 5 ways to raise funds for your project. Don’t waste a single minute and get started already. Do you have any question ?