investorsHow can I find viable investors for an APP I have designed? I have a business plan, power points and I have done extensive research on the competition. I have talked to a several investors, a few who are in think mode but I would like to see this APP finished by the end of March. So, I am looking for investors to help hire the tech support to finished it faster.
So you have designed, but not exactly developed a MVP?
If that is the case, then the chances you land an investment are very low. And even if you do, the stake asked (by the investor) will be higher than you would like… Way more than 20%.
I could give you plenty of reasons on why investors DO NOT put their money in ideas (no matter how good the idea is and how much you have searched about it)… But I’ll just spare our time and say : You need a MVP.
According to Techopedia a MVP is
The most pared down version of a product that can still be released.
An MVP has three key characteristics:
The main thinking here is: Why someone would put money on a project that didn’t receive a single drop of sweat from the very founder?
I’m not talking about the time you have invested thinking about it, designing it or searching competitors (this is a good first step), however you need to invest time/resources in actual development time.
If you don’t want/know to code, you need a technical partner. If you don’t want a partner, then you have a problem, trying to figure it out how to build a MVP - because that’s what you need to START getting investors attention.
After working a little bit on fundraising, I’ve learned that the best way to raise a lot of money is to tell investors you don’t need their money…
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