Hi all. With the current eurphoria about apps, I have been lately thinking about an app to which I do feel and believe there is a major niche for it. Given the fact I am pretty much inept in this sector how would you’ll say I go about pitching it to even prospective programmers? Perhaps would it better to pitch it via email ofcourse to major VC and see how the ball rolls or would that be a big risk as there is a likelihood they may buy into the idea and do it themselves? On the other hand beggars aren’t real choosers so I was hoping since I got nothing to lose might as well pitch it to major players and follow up. It is not like I have the technical skills to develop atleast a beta form to show them. You could say I am more of the stregist part here and see the whole picture from basics and further scaling etc. Your takes?
VCs don’t invest in ideas, they invest in companies with products that have been validated to some extent. Your best bet would be to hire or partner with an app developer to get a first version released.
Dude do you have like a new crazy idea every 2 months or so eh?
Partner with an app developer and get them to write the code for a split of the potential upside. You can draft a basic legal contract to cover the terms (or see an attorney).
I know two guys that did this right out of undergrad and made some incredibly stupid app that for some reason sold well (it was a picture of gun that would animate into a shooting gun when you pushed a button on your iphone but otherwise had no functionality). They sold it to some group for $10 million dollars based on its sales and pocketed $5M each after tax (about age 24 both of them).
In other words, hurry up, it’s bubblicious out there.
Good grief! I shoulda done dat!