In the app licensing business, everything starts with a great idea… but to succeed, you need to take action. Some of us have been walking around with award-winning ideas for years, and some people are still waiting for the right spark of inspiration. If you’re reading this blog, hopefully you’ve already thought about some apps you might want to license. But if you’re dragging your feet because it doesn’t seem ‘just right,’ you need to motivate yourself and take action today.
Coming up with the right app idea to launch your licensing career can be tricky. It’s easy to feel pressure to find the ‘perfect’ app to start with – an app that every Fortune 500 company will want to license. Don’t worry! ANY app idea that creates value for a company has the potential for a licensing deal, even if it’s with a small organization. Don’t stop brainstorming, but in the meantime, going with your current best idea is an excellent tactic for keeping your momentum and stimulating even better ideas in the future.
In fact, licensing an idea you have right now will give you even more leverage when you do come up with that bestseller. Companies will pay more attention to someone who has successfully licensed apps in the past – someone who already has a track record of making money for companies. Starting the licensing process now with an app you’ve already thought of will also help you develop better apps in the future. As a licensing veteran, you’ll have a better understanding of the market, the technology, and what companies want. Therefore, waiting for the perfect app will only hold you back!
If you want to break the perfectionist cycle, sit down with your notebook right now. Write down every app idea you currently have, and then rank them based on ones will be most successful. Here are a few questions you should ask yourself to help in your rankings: Is this an idea I’m passionate about? Does it offer value to a company? Will it engage customers through a fun game or a useful tool? Is it already on the market, and if so, does my version offer significant improvements?
Once you’ve ranked your ideas, it’s time to start taking action. Take your best idea – the one you believe in the most – and tell yourself that it’s time to make it a success. Remind yourself that this is an idea that offers value to companies in a new and engaging way, and that the sooner you take action on it, the sooner you can be enjoying the rewards of partnering with a licensee and earning income from your hard work. Start the process by fully developing it through a pitch document that that describes the app and provides screenshots, then protect the idea with a provisional patent and start contacting potential partners. Instead of waiting for the perfect idea, you’ll be on your way to pitching your best app to real companies and possibly licensing it for a substantial royalty!