Talent hub
Contact Us
Talent hub
HOW TO

How to Sell an App Idea?

Alexander Prokopiev
Alexander Prokopiev CEO of ARTJOKER
8 min read

Mobile application development has quickly become a crucial and significant segment of the worldwide IT economy. It provides a livelihood for thousands of programmers and benefits hundreds of businesses. However, only some developers or programmers are financially capable of creating a separate app or extension.

There is no best way how to sell an app idea, and it always depends on the concept and the owner's personality. As the sale of app ideas becomes more common, many inventors with good ideas and brains are looking for investors or corporations willing to help their project or even buy their ideas and develop the product themselves in the future.

While this is becoming increasingly prevalent, many people still ask themselves, "How can I sell my app idea?". Some also make many mistakes because they haven't learned enough about business or have never sold anything.

These blunders might cost their authors a lot of money and become the worst in their history. For example, one of the most prevalent errors, particularly among rookie programmers, is the patent error. They often lie about the benefits of their technologies and lose the legal protections that the law gives them as a result.

Such incidents are so prevalent that historical records are abundant with them. For example, we have all come to regard Alexander Bell as the creator of the telephone. However, he only learned of that notion via his intelligence sources; in reality, the phone was invented by an Italian immigrant in New York named Antonio Meucci, who was so poor that he couldn't even pay the $10 required to get a patent.

So it is evident that safety is critical if you want to sell your mobile app idea to a company.

How to Sell Your App Idea: Step-By-Step Guide

Nonetheless, we'd like to return to the main point. Without going into details, we'll outline the most critical stages in pitching an app or idea to a company and the tactics you may use to complete the transaction.

How to Sell an App Idea?

1. Put Your App Idea On Paper

To begin, you'll need to create written documentation of your proposal if you want to sell an app idea to a company. You should provide Information about the app's purpose, point of distinction, and how users interact with it. The document can be small, but it should have enough information for everyone who reads it to understand the app's purpose and functionality.

2. Create a Problem Statement

A problem statement is essential when selling app concepts to IT organizations. It's a concise summary of the problem you hope the software will solve. When you sell an idea for an app, describe in detail its features and why they are required.

It would be beneficial to briefly describe your target audience and how your app users would be spread geographically (like local businesses or specific demographics).

3. Plan Out Your App's Functionality

Make a basic overview of the app's main features and how users will utilize them. It is critical in this scenario to determine the end-user skills needed to operate an app. Describe the app's features and the way they function. Include graphics demonstrating screens and transitions. These steps are sometimes referred to as a "flow chart." It helps explain the process and market an app idea.

4. Investigate the Market

You don't have to be a computer specialist to investigate the market if you want to convince others that your iOS or Android app development idea has potential. Is there similar software already available? Are there other well-known examples? Even if the answer is "Yes," it shouldn't be your endgame. Examine the aspects that led to the success of rival apps and evaluate how you might improve on them to sell app ideas to companies, whether via the inclusion of new features or a different price structure.

5. Submit Your Idea For Consideration

Once you gather all the relevant information, you can create an app prototype. It might be time-saving if you sell app ideas to developers in advance. With the ready app prototype, you can send your project information to a tech giant for consideration.

How Much Can You Sell an App Idea For

It's uncommon for people to attribute an app's meteoric success to the creators' ordeals. Despite being critical to Uber's success, no one ever gives the company's lawyers credit for the company's $58 billion valuation. When you market a new app idea, remember that potential investors' lawyers might have a look at it first.

Creating ideas is more interesting than developing an app and spending long hours of hard work to bring it to life. However, investors value the execution over the concept, whether it is a new and original approach to a well-known topic or a much quicker and smoother mobile solution. We're not saying that developing an app idea doesn't make sense; we're just saying that the execution will be the focus first.

It takes a lot of work to market your app idea and to price it. Even the most brilliant concept may be doomed by poor implementation. In contrast, even a poor idea may be beneficial if executed well and improved along the way.

You can determine an idea's value by multiplying its complexity by implementation cost. Multipliers might look like this:

  • Awful idea = -1
  • Weak idea = 1
  • Average idea = 5
  • Good idea = 10
  • Great idea = 15
  • Innovative idea = 20

If the complexity of your idea is 15, but implementation costs just $1,000, the worth of your program is $15,000. The better the idea, the higher the value, so a smart one that is successfully implemented can get 15-20 times multiplication and would be even more high-priced if you sell the rights to an app idea.

Where to Sell App Ideas

The majority of major IT firms have a robust web presence. One of these companies may have not only pondered but is actively developing your app idea.

You may propose your app idea to a developer like Facebook or Google, but they will only take you seriously if you have the skills to make it work.

If you devote time and effort to developing an app, it should be something that a giant software company can see potential in and utilize to build its business. You should also investigate if your suggested app idea has been implemented before and if someone else did it better.

  • It's hardly surprising that some people desire to pitch their app ideas to Apple, considering that the company is one of the most well-known in the technology business globally. You may present a terrific iPhone app development concept to Apple in various ways. However, before submitting your proposal, you must grasp what Apple is searching for and what will happen to it after the first inspection.
  • Google usually does not buy programs. However, if your software is a good fit for Google's product or smartphone, you can sell them the exclusive rights to it and have it shown in the Google Play store and get into the recommended list.
  • Furthermore, large digital corporations like Facebook always search for innovative and intriguing app ideas.

If you follow our advice, you may have a better chance of getting a good deal for your program idea.

How to Pitch Your App Idea

Proposing to a prospective investor is typically the defining moment in an entrepreneur's career. In the high-stakes, ruthless world of venture capital, an entrepreneur may only have minutes, if not seconds, to convince investors that they and their company are a safe bet.

A well-prepared pitch is vital for more than just getting an interview. To sell a good app idea, new business owners may use this strategy to describe their company's purpose, competitive advantage, and future objectives.

How to Sell an App Idea? - 1

Act Enthusiastically And Be Fast

Investors are disturbed by frequent pitches, typically in a hurry, so it is critical to capture their attention fast.

The first hook you can use to attract investors is a genuine excitement for your company. Present your idea with the same zeal and devotion you have for your firm, and avoid cliches like "the potential market size for this region is..." that might turn off investors rather than entice them.

Why does this idea appeal to you? To which grounds can one push it farther? What are the benefits of your plan? What do you need to implement the project? How quickly will the efforts and investments return?

Getting an investor's attention is the most challenging in delivering a presentation, so if you can answer these questions in the first 20 seconds, you've effectively won. You've cast your line, and it's time to reel in the fish.

Understand Your Figures Inside Out

When making a sale, numbers are critical. You should not, however, merely toss out any random numbers that come to mind. Instead, focus on the essential KPIs to you that will immediately spark an investor's attention. Don't let lawyers hide the numbers only to protect app idea and sell it.

Metrics that reflect success are crucial, such as sales figures, profit margins, growth rate, and customer acquisition costs. If even one of these high-level financial measures piques an investor's interest, you can bet they'll want more details. In this case, you'll need to be prepared to speak in detail about money, stocks, and other topics.

This presentation is an opportunity to demonstrate that you've thought this through and are prepared for everything. Investors put a high value on this because they want to know that their money is going to someone who will treat their future business decisions with the same care and deliberation as this presentation. You would not put your money in the hands of someone who has not thoroughly investigated all available options. To sell your application idea to an investor, think like one.

Represent Your Own Business

After you've done all the hard work demonstrating why your business deserves a chance, you should speak about yourself at the end of your presentation. Remember that no matter how great a concept is, it is who implements it that matters.
Now it's time to shift gears and pitch yourself to the investor, outlining why you're the ideal person to see this project through to completion.

Investors should leave your presentation knowing all there is to know about your firm, its finances, and who you are as a business owner. You may finally take a large breath and rest while the investors determine whether or not they wish to support your enterprise.

Content of the article

Conclusions

If you still want to get an app idea to market and pitch your app concept to Facebook, Google, or Apple after understanding that they don't pay for basic concepts, you should think again. These companies invest in prefabricated solutions that have the potential to improve their products and provide them with a competitive advantage.

Keep in mind that there are many other customers out there who are interested in your high-quality work. However, don't expect to become wealthy overnight; making big money by selling your app concept will take a lot of work, from coming up with the idea to mobile app development to delivering a ready product.

Your efforts to bring an app idea to market may take some time. However, we may offer you a concise review of the essential items to consider before creating a large, long-term project. It is a well-planned and sophisticated campaign in which you must be ready for any unforeseen twists and know every element of your project inside and out.

Rate this article
5 (1)
Share

Popular in blog

View all
Contact Us

Hello!

We collect cookies to improve your experience with Artjoker

I AGREE
clutch
We are on the Сlutch
We already have 5.0 and 40 reviews from satisfied customers
View our profile