People come up with new ideas for applications all the time but struggle to get the application built. Their first stop is usually a friend or someone they work with to try and get them to build the app without knowing the time and money required. This usually ends up with the person asked delaying and delaying until the person that finally came up with the idea moves on. Failed ideas are a dime a dozen and many people become disheartened at the idea that they will never get their idea built whether that is an enterprise solution meant to solve a pressing business problem or a business to consumer solution to bring an idea to the masses.
Finding money to pay for software development is a tough obstacle to overcome. For seasoned start up creators the go to place is to raise money from venture capitalists. The downside to this is the requirement for knowing and having connections. Also, if you have never raised money and have no track record then you will find selling yourself a very difficult task. Investors will be extremely wary of giving money to someone that has no history of giving money back to investors. If you have a good credit history then you may be able to borrow money to finance the development costs. If you have a bad credit history you can reach out to a Phoenix credit repair company and they can help to correct incorrect information such as a portfolio recovery associates collection account and outdated information to raise your score which would give you the possibility of securing financing through either the use of a line of credit or through securing cash from credit cards. Software developers can be very expensive so if you happen to find someone that is willing to work at a discount then you may also have to give up equity in the company which we will talk about in a later section.
Dispersing equity is going to be one of the primary methods of bringing talent on board to your company. Navigating how you are going to distribute equity in exchange for bringing in quality workers to help you grow your brand. Even after the initial costs of building the application you will have ongoing costs related to the building and growth of the brand. There are different types of stock that can be distributed depending on the type of voting powers you want to distribute where investors are very likely to want more control and voting power than those people brought on board to initially build the project with mostly equity.