what to do if you have an idea for an app

April 09, 2022 Post a Comment

Then, y'all are an imaginative kind of person – you lot conceive fresh ideas, discover new things, and overall you have a artistic set up of mind. And one day you come upward with an app idea. The future product has a strong value proffer, very useful features, and you are certain the users will love the app. What is likewise important, it has practiced perspectives to monetize.

"Well, that's a success!", y'all recollect to yourself. "App industry is thriving, there are tons of startups building new apps, big tech companies paying for practiced ideas. I will just become ahead, sell my thought, and brand my first million or two!"

There is a lot of information about how to sell an app idea scattered on unlike websites. In this blog mail service, we will tell you about which companies yous can sell it to and describe specific steps to help you lot make coin from your app idea.

How to Sell an App Idea to Apple

Of course, your app thought is and then outstanding that fifty-fifty Apple would be willing to buy it and make a successful product out of information technology. Only how practise you reach out to them? You don't know anybody who works at the company. You decide to get to Apple tree'southward website and hit the "Contact Apple" button. At get-go, you are lost considering there are so many topics for which y'all tin can contact Apple tree. Finally, you lot find an option to exit the feedback, and you get-go describing your idea.

The bad news is that Apple does not have whatsoever ideas. They officially declare it in their Unsolicited Idea Submission Policy and ask non to submit any proposals, materials or works to Apple tree's employees or contractors.

There is also one more interesting paragraph in the Policy saying that if y'all submitted your idea, Apple will treat it as its own, and you volition receive no compensation and advantage in return. So if your idea is indeed revolutionary and you submit information technology to Apple, they can develop it and brand it successful, but nobody will always find out who is the existent hero.

Nevertheless, Apple does buy successful working apps such as the vocalisation assistant Siri, which was purchased in 2010. In that location were rumors that Siri's investors received upwardly to $200 meg from Apple. So, if you think that your app has the potential to fit into Apple'south roadmap, yous will demand to build high quality and popular production and maybe you'll get lucky to sell it to Apple tree.

How to Sell an App Idea to Google

Android's Google Play has well-nigh 2.five one thousand thousand apps. This is the largest app shop in terms of the number of apps published. If y'all say "i have an idea for an app" and it is unique, it might be a skillful idea to check the Google Play Store to come across if at that place is anything similar.

Google does not land they don't accept ideas. They do take them, still, but like Apple, they don't pay for your submitted proposals, but treat them equally their own.

So, if you feel altruistic, you lot can submit your idea through an online form, but don't look coin in return.

If you want to make money and sell your app to Google, you will firstly need to develop your high-quality app, marketplace it, and make certain Google notices it.

Very ofttimes, y'all see the news that big corporations like Google, Apple or Facebook purchase smaller companies to assistance them compete against each other. Recently, it was reported that Google was planning to acquire "Firework" – an app similar to TikTok. TikTok with its format of brusk 30-second videos became a favorite platform for younger video creators, potentially threatening Youtube potency. Facebook is also edifice a similar app for short videos called "Lasso".

For Google (or whatever of the large tech guys), to notice your app, the production needs to have the quality to assistance the corporation fight and outperform its rivals. Another option is to develop a solution that would help the company improve its own products. In 2016, Google purchased the Israeli startup, Waze. It was a navigation app having 50 1000000 users. Ane of the advantageous features Waze had was a possibility for users to interact and report on the route and traffic situation in real-fourth dimension.

How to Sell an App Idea to Facebook

It may come up as a surprise, merely Facebook does not buy app ideas either. Facebook does non pay for any type of ideas – whether it is an app, or a feature, or some kind of technology. Although they are very open to suggestions from the community, they will non requite whatever money to people who submit their offers.

Like Google and Apple, Facebook also buys ready products, and they don't necessarily have to be profitable. When Facebook acquired Instagram in 2012, the latter was not generating revenue. But in 2018, Instagram was estimated to be worth over $100 billion. Old Facebook employees revealed that the acquisition was for fighting Twitter and Google+.

Some other famous Facebook acquisition was the messaging app, Whatsapp. Facebook paid $19 billion – an enormous amount taking into consideration that Whatsapp was famous mostly exterior the US and didn't make a lot of money. Confidential charts revealed by the United kingdom'south Digital, Culture, Media, and Sport (DCMS) parliamentary committee show that in 2014, Whatsapp was getting more pop and potentially had all the chances not only to compete but to successfully win the battle over Facebook Messenger.

To be purchased by Facebook, your app does not necessarily have to be related to social networking. Facebook has a very diverse portfolio. For example, in 2014, Facebook bought a virtual reality production called Oculus VR. They too bought a company called Ascenta which made drones. Other acquisitions covered companies inside industries similar video software, fitness, and health monitoring, and team messaging.

How to Sell an App Idea to a Company

Not only Apple, Google, and Facebook purchase apps. Other companies are ready to invest and broaden their business portfolio every bit well. Don't be upset if your app thought does non fit the business organisation models or roadmaps of big tech Silicon Valley corporations. There are smaller companies, and there are businesses outside the US who might be willing to purchase your app projection.

In 2018, 97 unicorns started operating in China. Unicorns are startups valued not less than $1 billion. The presence of Chinese apps and investments is hard to underestimate. TikTok – the eighth near downloaded app in the U.s.a. in 2019 – was created by ByteDance, a tech company from China. PUBG mobile game was developed by Tencent. It turns out that Chinese app publishers acquire very fast how to market their apps to the The states and European users.

Some other strategy of Chinese companies to grow their global presence is to acquire smaller companies from Europe and the US. For example, Tencent failed to brand WeChat successful in the US. So they purchased or invested in other firms locally to go their gaming products into the western markets.

Every bit of Jan 2019, over 300 tech unicorns were operating in various countries, such every bit the US, Communist china, Singapore, U.k., Republic of korea, Bharat, Indonesia, Brazil, Germany, Switzerland, Malta, Sweden, Israel, etc.

And while you are looking for somebody to purchase your app, there might be some tech company interested in acquiring promising app projects and ideas. If you browse through the list of employees of these organizations on LinkedIn, you might discover the users with a title similar to "Investment manager" – these are the people responsible for investments and acquires.

So what should you exercise to sell your idea for an app idea to a company? These steps will help y'all succeed in getting $million in revenue for selling your project:

ane. Put Your App Idea on the Paper

Describe what your app will be nearly, what features it will have, what value it will bring to the users. If yous have ideas nearly the design, app proper noun, marketing and monetization strategies, or anything else related to your app, write it downward. It does not have to be very detailed, just information technology volition exist very useful when you lot showtime creating the concern concept.

2. Exercise the enquiry and analyze information: Know your market and your users

No matter how sure you lot are about the excellence of your app idea, brand sure to practise the research and have the relevant data regarding the overall market, your competitors, and your prospective users.

Let'due south say you have an thought to build a fitness app with AI algorithms that would pick a workout for a user based on his / her concrete grooming experience, body particular qualities (taking into account possible previous injuries), and goals. Here are some things you'll demand to enquiry:

–Overall market place: You will find that the marketplace for fitness apps is quite saturated. Apps for runners, yoga lovers, swimmers, those whose who want to lose weight – in that location are plenty of them, bachelor in both App Store and Google Play, paid and free, targeted on men and women.

Are there like apps to yours?
Which app stores are they published in?
How many downloads do they have?
Which locations are they the almost popular in?

–Competitor apps: Although in that location are so many fitness apps, not all of them will be your straight competitors. Pick the ones that are closest to your app project in terms of idea, features, target audience, and markets and do more detailed inquiry on those products.

Are they different and similar to your app?
How many reviews practice they become, what'due south their rating, and what do users say nearly them?
How do they promote their products?
What monetization strategies do they use?
How do they retain their users?

3. Create a Business organization Concept

The business concept should be a detailed certificate based on the previous two steps. This is the presentation where you should refine your app idea and display a comprehensible business plan. It should incorporate the answers to all the questions your investors might have.

You should clearly sympathise who the users of your fitness app will be and how they volition benefit from information technology; how your project will exist different than all the other numerous fitness solutions; which marketing channels you will utilize to attract people who care about their health and bodies; how you will make money with your idea. (To learn more than about interstitial ads, check out our latest blog post!)

About oftentimes, concern concept presentation has such topic blocks (but feel gratuitous to add other valuable information if yous experience it's of import for the investors):

Your app projection:

Brief clarification of the app and its features
What problem will it help users solve and how
Why is it unique

Your users:

Analysis of your target audience in terms of age, gender, geography, occupation, etc.

Marketplace and competitors overview:

Why is this market attractive and its growth perspectives
Who are your competitors
How your app is better than competitors
How are you going to compete with peer apps

Marketing strategy:

Which promotional channels will you utilize to launch your app
How are you going to grow your user base organically
Which paid acquisition channels will y'all use
What countries will you focus on to promote your app

Growth roadmap:

Expected number of downloads over time;
Anticipated number of active users – daily, weekly, monthly
Expected retentiveness charge per unit and how to accomplish it

Monetization strategy:

How do you retrieve your app will brand coin

4. Develop Your App

Yeah, we were talking about how to sell an IDEA for an app. But have a look at the examples above. Google, Facebook, and Apple invested heavily in working products. You can discover tons of other cases online when tech companies bought working projects. These are real precedents, and if yous desire to receive several meg or billion US dollars for your app, you'll need to work hard.

In our previous blog post "I Have an Idea for an App" – Hither is Where to First and What to Do, we described what it takes to develop an app. It's not but about hiring programmers to write the code. It'southward as well most protecting your app legally, developing the brand style, and creating a clear marketing strategy.

5. Launch and Grow Your App

The launch of your app should be preceded by thorough testing. Your business organization concept presentation already includes information near launching activities. Then if you have that topic covered, all yous demand to do is just implement everything you planned.

To attract investors, yous'll demand to go on up the good piece of work and grow your app – increase the number of users, innovate new features, meliorate memory and appointment, collaborate with your users, etc.

Do the best you can to develop and keep a good reputation of your app: don't violate the app stores' rules, exist squeamish to your users, exist responsive to the media. It'south as well of import to lead your business operations properly, follow your country'southward laws, pay taxes, and respect your employees. Think that when you detect investors, they volition do the due diligence of your visitor.

vi. Observe potential investors and pitch them

If Google or Apple tree hasn't contacted you even so, information technology's a sign you'll need to await for the relevant investors. Here are several guidelines to assist you:

Create a list of tech companies capable of buying app projects.

If your goal is to sell the app (and not just go some investments to grow your organization), yous volition need to expect for tech companies capable of buying other projects. The simplest mode is to search online for tech unicorns, inquiry about recent acquisitions and investments. Don't limit yourself to your country or region only. Your buyers can live anywhere.

Selection the companies that are relevant to your business.

Analyze the contour of the visitor, read about its latest acquisitions, and try to empathize if your app fits their business model and development roadmap. Limit your initial list of investors to the companies that are relevant to your app

Find relevant contacts.

Cheque the website of the visitor to meet if they have contacts of people responsible for business development or investments. Yous can also check out LinkedIn and find company representatives who accept accounts at that place. Ideally, you would need to connect and contact a person responsible for business acquisitions. You can also employ LinkedIn to find a necessary person through the other contacts that are available.

Contact and Pitch the Potential Investor

In one case you have a list of necessary contacts, you are prepare to start with pitching the companies. The channel you lot determine to use depends on your personal preferences. Y'all can showtime with LinkedIn letters and emails, and then proceed with phone calls and personal meetings. You tin can also encounter those companies' representatives at startup events and meetups.

Remember not to disclose too much confidential data near your app. All the information you provide should be disclosed under the mutually signed NDA. In that location will be due diligence washed past your potential buyer. Make sure to become the professional lawyer'southward support if yous feel yous will need legal aid.

To sum up, knowing that tech giants don't reward for mere ideas, call up again if you still want to offer your app thought to Facebook, Google or Apple. These companies purchase ready solutions that have the potential to strengthen their own products and compete with their rivals. And don't forget that there are lots of other companies around the world ready to buy high-quality projects. However, don't promise to get wealthy shortly: getting millions in acquirement from selling your app concept will require hard work, including creating the working app itself and making sure it continuously grows.

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Source: https://www.mobileaction.co/blog/app-business/how-to-sell-an-app-idea/

Randall Mous1964