Finding investors for your app is not unlike acquiring investors for any other type of business venture. In many aspects, you should take the necessary steps to impress potential investors, but at the same time ensure they are the type of investors that will fit best with your mobile enterprise.
Finding investors for your app is not unlike acquiring investors for any other type of business venture. In many aspects, you should take the necessary steps to impress potential investors, but at the same time ensure they are the type of investors that will fit best with your mobile enterprise.
Finding Like-Minded Investors
While it may be a test in patience to be picky about investors for your mobile app, you should always consider certain criteria when doing so. More specifically, it is a good idea to find investors that are like-minded;
otherwise they may lose interest in your objective, and subsequently not behave as a like-minded venture capitalist would.
In regards to like-minded investors, “like minded” means finding an investor that is genuinely interested in the concept of your app and its objective in the marketplace.
What’s more, it is most advantageous to find like-minded investors for your app because they are much more likely to be involved in the creative process, possibly adding valuable insight. What’s more, like-minded investors can attract other similar investors through word-of-mouth, as well as additional business and industry connections.
Investors Can’t Always Be Choosers
Investor input can be valuable and should be appreciated at certain times, however, it is important that your investors know that you are leading the project. Simply because they give you money to further the project does not necessarily mean they get to make important decisions, or any at all, for that matter.
Most experienced investors and venture capitalists are generally good at keeping a distance and letting you carry out the operations, however, there may be times when you have to let them know that you have the authority. At the same time, it is important to keep all investors informed of the progress your company and its app are making.
Keeping Your Investors Informed
When seeking and obtaining investors, you especially want to watch out for those that are overzealous, but at the same time, you don’t want to neglect investors you have already signed on. More specifically, you should keep your investors informed of updates in the progression of your app.
By all means, you do not want to over-share, but you also do not want to alienate your investors to the point of them taking their money elsewhere.
So as you walk the line between keeping your investors in-line and informed of their investment, try to exercise adaptability in your dealings.
Investors can be difficult to work with, but in many cases, your mobile app will not become a reality without their backing. In this way, your mobile enterprise owes them gratitude for making a successful app possible.
Conclusion
The type of investors that you attract undoubtedly says a lot about your business. Even more so, how they work with you says a lot about the future of your mobile enterprise. If you let them make all the decisions while you stand back and watch, then they are essentially doing your job for you.
As the leader of the enterprise, it is your duty to attract like-minded investors that have the ability to stand back and let you create a successful mobile app. When, or if, this does not happen, then you need to cut those investors loose.
However, if you choose your investors wisely from the beginning, then they should show no harm in seeing your app flourish.
ABOUT THE AUTHOR: Jennifer Lewis
