Starting an iPhone® Application Business For Dummies®

Chapter 13. Greenlighting the Budget

In This Chapter

• Putting together a development budget for your application

• Estimating the different portions of the budget

• Raising money to develop your application

• Writing a business plan to get funding for your application

• Getting a sponsor or client to fund your application

Amazing, exciting opportunities abound all over the App Store as evidenced by the tens of thousands of applications (and app developers) in existence. And folks who want to seize these opportunities have to contend with at least one barrier to entry: the cost of development. An exciting idea needs to have a specific budget so that funding can be obtained and the idea can become a reality. This planning is done to convince someone — you, an investor, or a client — that this application deserves the funding. Creating a budget also helps you plan the development phase before you spend a dollar, which hopefully will translate into a better, more efficient product that can save you money and headaches when you start development.

In this chapter, we cover the two sides of finance: developing a budget for your iPhone application and obtaining funding to cover that budget. We discuss all the major elements of goes into a proper iPhone application budget and give you some estimates to consider as you plan. After the planning comes the pitching, or bootstrapping, depending on your course of action. This is a chapter you can read in the early stages of development, or as you're about to ...