How to find investors for your app is the biggest question app developers grapple with. You know parts of the answer, and yet, there are gaps you face challenges with. You know you need to have a killer pitch and that you need to woo investors and show them the potential of your idea. But how exactly do you go about doing that? What do investors look for in a pitch? How can you get yourself noticed and prove that you are a good investment?<\/p>\n
You\u2019ll have all the answers to those questions by the end of this post. You\u2019ll know how to prepare the right pitch, how to set yourself apart from the competition and how to show investors your true potential.<\/p>\n
Contrary to popular opinion, investors aren\u2019t just looking for a \u2018great idea\u2019. Whatever the next big idea is, chances are they\u2019ve heard it a few times in the last week.<\/p>\n
What they\u2019re looking for, is a passionate visionary with a plan. You need to show them that you\u2019ve done your research, planned your long game and are ready to hit the ground running. They need to know that you actually have the chops to execute this idea, build a great app<\/a> and keep it running profitably long enough to make an impressive ROI.<\/p>\n So start by doing your research. No investor was ever impressed by \u201cI believe this will be a great solution\u201d. They need to see more tangible groundwork. You need to know your market. What problem is your app solving for users? How big is this problem really? Does it affect a significant number of people? Can you solve it effectively? Those are some of the questions you must have asked and answered, preferably with the help of some real user research. Hard numbers and data will always grab the attention of investors and show them how serious you are about this.<\/p>\n Be ready to say things like \u2013 \u201cWe interviewed 300 people and found that 75% of them wish there was an easier way to do ____\u201d, or \u201cWe found in our research that 60% responders would be willing to pay for ____ if it saved them time and effort\u201d.<\/p>\n You could do this in many reliable ways. Use online survey tools like Survey Monkey. Even if you have to pay a small fee, an online poll covering sufficient people will give you the tangible proof of concept you are looking for. Alternative you could circulate a simple survey among your known acquaintances and gather some data. You could start a blog or microsite and post short but interesting content about your idea and engage enough people to build a small community. All of these measures will go on to show investors that you are serious about this idea and are hard-working enough to pull it off.<\/p>\n The thing about apps is, that apps are good business<\/a>, and everybody knows that. So your idea has probably already been built into an app in at least similar if not the exact same way you\u2019re planning to build it. And let\u2019s face it, no one\u2019s investing in another app of a \u2018type\u2019. You need edge. You need to differentiate yourself from the competition. Instead of yet another travel app, how about an app for women travellers that ensures safety and security. Instead of another ecommerce app, how about an app that connects customers to their local stores, so they can support local businesses as well as enjoy the convenience of ecommerce.<\/p>\n The point is, you need to define your target audience in a specific niche. This in fact isn\u2019t just about wooing the investors but for the long-term success of your app in general.<\/p>\n Investors would be instantly intrigued by an app targeted at a specific section of the audience. That is because such apps have a differentiating value. Users feel that the app is made exclusively for their needs and are more willing to engage with it. Everyone likes exclusivity, especially in the age of widespread generalization. Investors understand this and hence, are more willing to invest in niche ideas.<\/p>\n Not all investors at all times are willing to sit down and listen to your detailed plan of action. Sometimes you get only a minute, or a half, to tell an investor what your idea is. If you use that time wisely, you stand to land a meeting where you\u2019ll get adequate time (and attention) to present your ideas in closer detail.<\/p>\n So you need to be ready with an elevator pitch \u2013 a concise pitch that tells what your idea is and what it does for users within 30 seconds. To do this well, you need to work and rework on exactly what you would say to your investor. You need to say this to yourself several times, like a well-rehearsed dialogue delivery.<\/p>\n An elevator pitch is not the time to tell your story or show why you\u2019re passionate about the idea. In an elevator pitch, you succinctly describe what your app will do for the users and why would people want to download it. That\u2019s it. You need to keep it short but punchy, this will take some practice and fine tuning. Focus on the biggest value your app offers, your biggest selling point. Focus on the biggest problem you are going to solve. Once you do that, you\u2019re ready with an elevator pitch that could land you an investor meeting up close and personal.<\/p>\n Show, don\u2019t tell. That\u2019s the big takeaway in the investor universe. You can talk about your idea all you want but to really show investors how committed you are to this app, you need a prototype.<\/p>\n Don\u2019t let the fancy words trouble you. Building a prototype is easy. You could build your own if you are a developer yourself, or contact an app development company to build one for you. A simple prototype can be whipped up quickly for an affordable price and show the investors exactly how your app will work. Check out this insightful post by Fortune on why investors love prototypes<\/a>.<\/p>\n A prototype is akin to a low-fidelity representation of your final app. It gives you a chance to show off your app\u2019s design and even logo and branding. Yes, this does require that you have worked on your app\u2019s design, layout and basic features already before you approach investors, but that in the inherent power of it. When you have a prototype to show to your investors<\/a>, not only are you showing them what your app will look like, but you\u2019re also showing them the hard work and commitment you\u2019ve already invested in this app and how serious you are about your idea. You are showing them that you are dependable and worthy of their money. Those are some of the most important traits investors look for when they decide to fund an app.<\/p>\n When you go in to an investor meeting, armed with your brilliant idea, your competent research and of course, your prototype, the thing that plays your wingman is your pitch deck. This is typically a PowerPoint presentation that runs on the screen showing off key points as you explain. This compelling Airbnb pitch deck is all the inspiration you\u2019ll need.<\/p>\n2. Find Your Niche<\/h2>\n
3. Get Your Elevator Pitch Ready<\/h2>\n
4. Build a Prototype<\/h2>\n
5. Create a Compelling Pitch Deck<\/h2>\n
Best startup pitch deck examples<\/h3>\n
1. Airbnb<\/h4>\n