sell sell

co.uk
Imagine you've got an awesome app idea - you've got
a meeting with a dragon investor, and you walk in with
your pitch:
"I've got an app that's a game-changer - it'll be worth millions - I'll give
you 35% if you fund it's development."
That's it. No valuation, no budget, no business plan - nothing on how you'll
grow the userbase, zero.
My guess is you'd be laughed out of the room and yet this is what I get time
and time again -- the latest one described a "game changing interactive
mobile app" which would generate £3 million a month from just 10,000
users.
Yet the app was free, had no in-app purchases and the money would
come from advertising and commissions. Oh, and those 10,000 users?
How would they get them? "Somehow" I was told.
The best part of "deals" like this is that typically the wannabe entreprenuer
would be keeping their full-time job while their "partner" would have to
give up an income to build this dream app.
I'm not saying all app developers wouldn't consider an equity or partequity
deal, but if you're a looking for this kind of arrangement, do it right
and treat them like an investor, because that's exactly what they're doing.
Be prepared before you approach them and to answer some difficult
questions. In short, be as prepared as you would have to be if you walked
in front of a Dragon or *any* investor.
As for the game-changer? I'm out.
Subscribe
www.bouncingfish.com
35