Tag: web application

Steps to Get You Started With Your Mobile App Idea

The mobile app market is booming right now, and you’re ready to take the leap after saying, “There should be an app for that.” But what’s the blueprint to making sure that you’ve primed yourself for success? In this article, we’ll take you through a checklist of actions to consider when starting out in the mobile app world.

Talk to your potential customers

So far, the only people that like your app idea is you, a few friends and your mum. But you’ve got to go broader if you’re wanting to validate your idea. Start by brainstorming a few potential audiences you’re reaching, and focus in on your main one. Go out and ask people in this market what they need help with.

When conducting this research, make sure you’re not in ‘sales pitch’ mode, with lead-in questions that just validate your idea. Ask open-ended questions to avoid confirmation bias and let your ideas naturally evolve.

What you’ll end up doing is having these potential customers develop your humble idea for you. This is what you want! Hopefully, you’ll also have a few early adopters you can reach out to when you’re going into marketing testing.

Develop your business plan

There are thousands of templates out there for developing you business plan. Pick one and start the planning. It’s important to make sure you have some clear objectives that you’d like for this business to achieve. You may want to consider the development of plans surrounding how you will brand and represent your budding business. Other important things to consider are the key strengths, weaknesses, opportunities and threats that are involved in embarking on this project. Keeping all this in mind means you’ve got a clear game plan going into this space.

Start Prototyping

In order to deliver the best product to the market, you will definitely need to develop a bias for action. No investor or customer is going to merely buy into an ‘idea’. Start by creating prototypes that can illustrate how your app will operate. At this point, talking to an experienced User Experience strategist may be a worthwhile investment. Usability is incredibly important for the success of the app, so these prototypes can do the selling. You’ll also be able to gauge what is technically possible and how much it will initially cost to get this project started.

Execution and Iteration

After gathering all that valuable feedback, it is important to take those points and keep iterating on your prototypes. Once you have a solid foundation for a minimal viable product (MVP) and the funds to make it happen, you can start designing and building the app with the right technical partner. From this point, the cycle continues – iterate, execute, iterate, execute…

EB Pearls is an experienced mobile app design and development agency, ready to take your idea to the next level. We’ll help you go through this process with ease, with your success at the centre of our focus. Talk to one of our friendly representatives today! Call us on 1800 857 679 or fill out an enquiry.

A Guide to Perfecting your Mobile App Investor Pitch

Delivering powerful pitches to investors is something all business owners, and most importantly new entrepreneurs, need to consider in order to start generating competitive profit.

According to Forbes.com, one of the biggest mistakes in trying to pitch an investor is the time you allow yourself to present your idea and deliver your message across. If you are not able to present your idea in about one minute, your chances of losing that potential investor are highest.

Clearly, a flawless pitching process needs plenty of attention to detail and a very clear focus.

Market trends that support the need to deliver powerful pitches to an investor

The market trend represents one of the most important sales-pitch statistic in helping the company acquire new customers. Here are some examples of market trend facts to tout in your sales pitch:

Did you know:

  • 75% of industry leaders recently surveyed suggest they plan to double that department’s budget this year.
  • 85% of businesses in your industry already invest in this service and have experienced 20% growth in the past quarter. (Source)

 

Key points that you should be aware of when pitching to an angel investor

An angel investor refers to the person that invests in startups that are not quite ready for venture capitalists. In other words, they represent the detail that could make all the difference, because they believe in your message before it reaches mainstream audiences.

So how do you approach these angel investors?

These are the key points of pitching to investors:

  • Know your market, business and competition from top to bottom – In other words, make sure you are able to promote your business’s benefits accordingly and explain how your organisation can help solve a specific problem.
  • Listen to what the investors are saying – Don’t rely exclusively on a prepared presentation, instead listen to their inquiries and answer them in a direct manner.
  • Watch your body language – Your handshake is what matters here! Be careful about making it not too firm but not too subtle either.
  • Dress accordingly – Make sure your outfit matches the meeting your are going to be a part of.
  • Share your success stories – Talk about your customers so that it shows you are continually operating, even if in a small way.
  • Contact your network for investors – Chances are you could meet someone who might introduce you to an investor.

 

How to create the perfect pitch

Think about delivering your pitch as a way to tell your story. If you can present your message in an engaging way and manage to relate your story to the investor, you are halfway there!

Here is an overview for the best way to approach pitching to a potential investor:

Your target market

Think about who you’re building your product for and refer to aspects such as how many people are in each market segment or how much they are currently spending

Customer acquisition

Make sure you have an answer to these questions: How will you reach your customers? How much will it cost? How will you measure success?

Your competition

Even though this segment is often overlooked, describing what makes you different from your competitors ensures that you are building a unique solution to your prospective customers.

Your team

Investors invest in people first and in ideas second… talk about why you and your business partners are the right team to promote and execute the company’s marketing vision.

Your financial summary

The answers that you need to present your investors with correspond with the following inquiries:

  1. How much money has already been invested in your company?
  2. Who are the people that have already invested in your company?
  3. What are your company’s ownership percentages?
  4. How much more you need to go to the next level?
  5. Will you need to raise multiple rounds of financing?

 

EB Pearls can help you create the perfect pitch to attract investors and increase your sales! Make sure you get in touch with one of our representatives and start working on your business project today!