In today’s intellectual phone-obsessed culture, it’s easy to see that mobile apps are everywhere. But how to sell your app idea to companies?
Most people think of app creation as a side project or something that can only be done on the side to make some extra money. The truth is that app development is a full-time job, with a very high demand for skilled developers. Plus, app ideas are highly lucrative.
If you’ve got an app idea, the first step is to develop it. But what if you don’t want to create the app yourself? You can sell your idea and make money from it.
App developers are always looking for ways to make their apps stand out in the crowd. The more unique your idea is, the more attractive it will be to a developer looking for something new and different. But even if your app idea isn’t particularly unique, plenty of developers would be willing to buy it from you.Getting your app idea off the ground requires the skills to create an app and the ability to sell it. Selling an app idea is arguably more important than making it in the first place. Click To Tweet
Here’s your quick guide to selling your app ideas.
The majority of big tech companies have a strong presence on the internet. If you have an app idea, the chances are good that one of these companies has already thought about it and might even be working on it.
You can submit your app idea to a company like Facebook or Google, but there’s a good chance they’ll reject your application if you don’t know how to pull it off.
If you’re serious about developing your app, you need to make sure that whatever you come up with is something that would be profitable for a major tech company to grow. You also want to make sure that your app idea is something that someone else hasn’t already done and improved upon.
Apple is one of the most popular technology companies globally, so it’s no surprise that some people may want to sell their app ideas to the company.
If you have a great app idea, there are multiple ways to approach Apple and pitch your concept. However, before you do so, it’s essential to know what Apple is looking for and what you can expect next if your idea makes it past the initial review process.
1. File for intellectual property protection. You must prove that you are the owner of the intellectual property to sell it.
2. Decide what type of agreement you want with the developer. Do you want an exclusive deal? Will you be selling all rights? Do you want a percentage of all sales? This information is included in any contracts you sign with a developer.
3. Create a presentation and a demo of your app idea. This should include some mockups showing how you envision the app will look and some bullet points explaining its features and benefits. Also, have information on its target audience, i.e., who will use this app and why?
Google doesn’t buy apps. But if the app is a good fit for one of their products or equipment, you could sell the exclusive rights to your app and see it featured in the Google Play store and other Google ventures.
Additionally, other tech companies, such as Facebook, look for lucrative app ideas. With the help of the following steps, you can ensure that you get the highest possible deal for your app idea.
The first step is to get your idea into a document that you can send over to the company. A good way of doing this is to write up a small business plan for your app. This will include details such as what the app does, why it’s unique, and how users interact with it. It doesn’t have to be a lengthy document—just enough information so that whoever reads it understands what the app does and how it works.
A problem statement is essential to selling an app idea to tech giants. It is a short description of the problem you want to solve through the app. You need to include exactly what your app will do and why it’s essential.
You could also add a few words about who would benefit from your app and where they’re located (like local businesses or specific demographics).
Sketch out the app’s essential functions and how people will use it. This should include a list of features that provide unique solutions for users. Write out the functionality of the application in detail. Include drawings that explain how different screens will interact with each other. This is called a flow chart.
Even if you’re not a tech specialist, it’s essential to understand the market for your app idea so you can convince others of its potential. Is there already a similar app available on the market? Are there other apps successful? If so, your idea may be viable, but don’t stop there. Look at what makes these apps popular and think about ways that yours could be better — whether it’s more features or a different price point.
After research has been completed, a person can begin creating an app prototype. This will take time and effort, but it is a necessary step in selling an app idea to a tech giant.
Once an app prototype has been created, a person can submit their idea for review by the tech giant they want to sell their idea to.
Selling your app idea might sound intimidating, but you don’t have to be a professional. With a bit of preparation, you can easily pitch your idea to the right people and increase the chances of acceptance. Here is how to protect your vision while preparing to sell it to a third-party company.
First and foremost, you need to refine your pitch before approaching anyone. This is true whether you’re trying to get funding or simply selling an app idea outright. Your pitch should be concise and informative while still being engaging and memorable.
Research the company and its products. Learn about the company’s mission and vision, goals, and competitors. This will help you understand whether your idea is relevant to the company and whether it can help them achieve its goals. It will also help you avoid pitching an app that already exists or is similar to something they already have.
Know who will receive your pitch. Before contacting anyone at the company, find out who would be interested in hearing your pitch. Usually, it’s a CEO, marketing, or sales manager responsible for new product development.
Next, figure out whether or not your app idea is feasible. Ask yourself these questions:
Is it technically possible? You may have an idea for an app that relies on new technology that doesn’t exist yet. If this is the case, you’ll need to wait until that technology becomes available before you can develop your app — unless you’re prepared to create the technology yourself!
This can be done by conducting market research to determine if your idea is viable. A simple Google search can reveal similar apps already and if they are successful or not.
If several similar apps are already available, then chances are yours will be, too, as long as it offers something unique or better than the rest. Some websites allow you to conduct surveys for free or for a small fee to see what people like about your app and how much they would pay.
Who do you think would be interested in using your app? What age group, gender, etc.? If you know who would be using your app, it will help you figure out whether or not there is a big enough audience for it. If you don’t think there is an audience for what you want to create, then maybe it’s time to go back to the drawing board!
Understand who your target audience is for the app idea. For example, if you have an idea for a productivity app, think about why the user would want it and what problem it solves in their life. Is it making them more efficient? Is it helping them get work done faster?
Understanding the problem your app solves and who your target audience is could be people struggling with productivity because they’re overwhelmed at work. Or they might be employees who need help delegating tasks to others to get things done on time.
The next step is to decide what type of business model you want your application to follow. Once you’ve understood the structure of your app and how it will generate revenue, it will be easier to sell your app idea to a company.
There are eight types of business models that most apps follow. They are:
The last step is to determine the cost of development. If you are an individual with no experience in coding or app development, this step may require a bit of research on your part. You will want to reach out to design and development firms to get quotes that can help you determine how much it would cost to create your app.
With these numbers in mind, you now have a number range to work from when negotiating with an app company. This can be invaluable information because it gives you a rough idea of what the market is willing to pay for this product.
Companies that buy app ideas might seem like unicorns at first, but they actually exist and can be found entirely online. To get started with finding such a company, you’ll need to be willing to do some research and put in some legwork. However, ensure that you are prepared before you set out in the market with the following steps.
When you sell your app idea, the companies will make it a reality in exchange for the rights to the app. This means you must be willing to give up ownership of your app idea, but it can be a worthwhile tradeoff if you are not interested in doing the development yourself or can’t afford to hire someone else to build the app.
Using a contract is essential when selling your app idea. It clarifies the terms and conditions of the sale, such as how much money you’ll receive in exchange for the rights to your app and what kind of claim you retain on the final product. This reduces any confusion that might arise later. There are various places online where you can draw up a legally binding contract by consulting with a lawyer about writing one for you.
Before presenting the idea, develop an NDA (Non-Disclosure Agreement) that will be signed before submitting your app idea. This will ensure that both parties are guaranteed confidentiality regarding the concepts discussed during the presentation.
When you are ready to sell your app idea, whether to a company or an individual, you must know how much you are willing to accept. In some cases, you may want the option of receiving royalties over the life of the app. In other cases, you may want a flat fee for your idea. Either way, you should be prepared to negotiate for the highest amount possible for your app idea.
When negotiating with a company about selling an app idea, it is essential that you know what your idea is worth and that you stick to your guns about it. Being transparent and confident about the price and value of your idea can help ensure that you get what you want from the deal. Ensure that the contract spells out all payment terms and any other essential details to both parties involved in the sale.
The more advanced your idea is, the easier it will be to convince investors of its potential. This doesn’t mean that you should only develop complex iOS apps. In fact, simpler apps like games or photo editors can be just as profitable as advanced ones if they manage to gain the right amount of attention.
Therefore, there’s no need to be discouraged by this fact. Just make sure that you plan your projects with plenty of time and effort, and you’ll be able to draw the interest of big name companies while also minimizing risks.
A new product with an innovative idea will always get attention from potential investors. If you can confidently and clearly convey the idea, your chances of securing an investment will increase.
However, it is equally important to know who to pitch to and how to approach them. The experts at Idea Usher can help you convey the value of your idea to prospects.
You can dig deeper to find more information about selling an app idea through a free consultation call.
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There are four ways to protect your idea:
1. Confidentiality/Non-disclosure Agreement (NDA)
4. Trade Secret.
No. It is always good to have technical knowledge, but it is not mandatory. But you must have a clear idea of the final product and its performance.
First, you need to make sure that your app idea is unique and solves a real-world problem. Then, you have to find out whether there are enough people who have the same problem and would be willing to pay for a solution.
And finally, you have to validate your idea by asking potential users about the problems they face and what they want from an app like yours. If you’ve done all these things, you’re ready to start developing your MVP.
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