Before we get into the nitty-gritty of brainstorming, developing, refining, protecting, and pitching your iPhone app ideas, you might want to see a full view picture of what the licensing process looks like and the steps you will need to take to license your first app.
- Brainstorming: Come up with a great app idea that offers value to a business through marketing, functionality, customer interaction, or more. Find an app idea that isn’t already on the market, or improve on an existing app.
- Pitch Document: Put your idea into writing. Develop a three to four page pitch document that outlines your idea in summary and explains the benefit to the licensing company. Include sample screenshots!
- Protecting Your Idea: Your idea is your intellectual property, and though it is rare for someone to try and steal ideas like this, you’ll want to take steps to protect what you’ve developed.
- Contacting Potential Licensees: Put together a list of companies that could benefit from your app idea, and then make contact with department heads or C-level executives to arrange to send over your pitch document.
- Pitching Your Idea: This is when you get to actually talk to company representatives and sell them on your idea! Pitching can be an exhilarating and stressful process, and it’s your opportunity to move to the next level of negotiation meetings.
- Negotiating a Contract: When a company loves your idea, you’ll need to iron out all of the details and incorporate changes they want to make. Remember – this idea is going to become theirs as well once the contract is signed, so you want to accommodate their change requests and negotiate a contract that helps both of you!
We’ll be covering a few of these topics in this blog, but to get the full step-by-step on how to license your app idea, you’ll want to download my detailed ebook. It’s the complete guide for people who are really prepared to start earning residual income from app licensing.