Okay, let be honest. One of the main challenges that the most, if not every, app startup face is gathering the initial investment. While many devote their savings or seek help from their family and friends, other struggle with the costing of developing an app, and look into other related process so as to establish a large-scale app startup. If you are also one of those, it is obvious that you would be curious to know what is the right way to manage your expenses.
While there can be various ways, the perfect solution, which I found, is Angel Funding, i.e., getting a hefty amount of capital from Angel investors in return of some ownership shares or convertible debt. What is it so easy?
With the skyrocketing competition in the app market, it is quite impossible to even imagine that an Angel investor will be free enough to listen to your app idea, visualize it, and provide you with the right capital.
So, how to deal with this situation? How to be sure that you will get success in convincing the Angel investor? One way is to present app prototyping, i.e., developing a working and interactive model of your app idea. Confused how will it be helpful? Wondering how to get Angel funding on your mobile app prototype (https://appinventiv.com/blog/mobile-app-prototype)?
The mobile application prototyping comes with a myriad of advantages that helps to get funding from the investors as well as employing them in a profitable way. Some of the advantages are:-
- Clarity
When you turn your idea into a workable model, you as well as the investor will get a better clarity of how each module will function and what would be the possible outcomes. This helps you both to be on the same page and work productively.
- App Validation
When you deliver a mobile app prototype to a pool of potential users and investors, you get a better insight of the market response. This helps you to predict the future of your app idea, which eventually become your striking point in seeking funds from Angel investors.
- Freedom
Prototyping, as reputed mobile app development agency says, is the only phase that enables you to perform A/B testing and update the changes. The stage offers you with the possibility of two situations – either your idea is perfect, or needs some changes as per the study made on the app prototyping. Now, if your idea falls into the second category, the app prototyping provides you with the freedom to invest time and funds in creating an alternative. In other words, the prototyping enables you to test and come up with a better idea even before you begin with the large-scale development process. This saves your time, efforts, and funds, and encourage you to launch a perfect mobile app startup in the market.
Now as you are acquainted with the benefits of mobile app prototyping, it is quite possible that you must be curious to know how to build a prototype in the right way. If so, underlined are the four steps you need to follow:-
- Identify the problem
The initial step to creating an app prototype is discovering the pain point of the users and evaluating how you can solve that issue. This process involves an extensive market research, including interviews and surveys, which helps to understand if your business app idea is targeting the root cause.
- Concept Mapping
The next step is to develop a concept using the data collected by mapping. The core part is to identify the main issue faced by them, termed as the ‘Focus Question’ and listing down all the related data. And then, arranging all the data in a hierarchical manner so as to understand the user flow and work better on the app features.
- Feature Ideas
Here, you make a list of features that users would consider while moving from point A to point B within the app, and refine the list. This refining is done to come up with the most desirable, functional, sustainable, and easy to use features.
- Storyboard
Last step of creating a mobile app prototype for gaining funds for your app startup is creating a storyboard. Look into how the end user can relate your app’s functionality to their daily lives and create a prototype and yes, test it well.
Now as you have looked into the advantages of creating a mobile app prototype for launching a successful app startup and the right way to make one, what are you waiting for? Bring your whole team on board and get ready to venture into the world of Angel funding via mobile app prototype. In case you still have any doubt, feel free to leave a comment below.