With mobile apps shaping and transforming the way we live our lives it comes as no surprise that a lot of enterprising people are wondering how to start an app startup.
You could be someone with no experience in building a business from scratch or know anything about coding, and still be able to bring a brilliant app idea to life. Here is how to do it.
Take a Class
You don’t have to go the whole nine yards, you only need to master enough skills to be able to create the first version of the mobile app. This has to showcase how your product is a minimum viable product so as to convince other stakeholders that you will meet along your startup journey.
The first simple version is also very helpful in allowing you to show a demo to your prospective investors so they have a clear idea of what your mobile app offers.
On top of this, you dont have to attend a proper school either. You can take online courses that fit your schedule.
It is easy to assume that if Barack Obama could do it while running a country you can do it as well. But you won’t have the same resources on your hand and a team of as knowledgeable teachers either. If you are truly interested in learning more about IT you should go for it. Courses are usually cheaper than hiring the best code and design experts. But they will only serve their value if you really are looking forward to it and not just so you can get over making your app.
Outsource Building the App
Learning coding may not be your strong suit and there are plenty of other parts of building an app startup that will demand your attention and skills.
With the rise of globalization, it has become a lot easier for people to be able to scour the world for skilled professionals that fit their budget. It will take some time and a lot of searching but you will definitely get there. You can then negotiate a deal where you offer them an hourly contract or project wise rate.
Pitch your Business
In order to secure the funding you need, you have to approach multiple potential investors. With mobile apps in scope, you are likely to find angel investors or you can get in touch with venture capitalists to back your business.
For this, you would have to prepare a pitch that highlights the strengths of your business and how they are better than what is already existing in the market.
When you have secured some sort of funding or have decided to dedicate your savings to this, it is very important that you outline a realistic budget. But more important and difficult than that is to then stick to this budget.
To manage your cash flow and keep a track of your income statement it is a good idea to hire a professional accountant. They will monitor everything and enter the details in a software to which you have access to. On top of this when you feel impulsive about making an expenditure they will stop you from doing so.
Hiring an accountant is adding to your cost but in the long run it pays off as your books are always up to date and accurate and the money is being managed to help you meet your projections. It also gives you enough time to be able to focus your energy on other parts of running the app startup.
Sign up with an Incubator
Building an app startup is a team effort and in order for your business to succeed you people with in-depth experience in building a business from scratch. An incubator is the perfect option.
They will offer you the resources you need but cannot afford, as an incubator spreads their tools and expertise to different app startups on their roster. They will also know what to look out for and the correct path to seeking out funding for your new venture.