I help companies turn mobile into net new revenue. Founder UNTETHER.tv, UNTETHER.talks, Thunder Rd. Communications, Filament Communications, getHOW! and a bunch more. Oh, I make a mean Cookies 'n Cream cheesecake and am a trained magician. Really.
How did you come to the $10K number? Based on revenue? Each of your contributions? Tough to answer this without understanding if the app is on the upswing or on decline etc.
Does he want 5% equity of the app or 5% residual royalties? My guess is that he wants to participate in the revenue. If that is the case, I would structure an X-year sliding deal that eventually worked him out of the app. It could be something like Year 1: 5% of PROFIT share. Year 2 3% of PROFIT share. Year 3 1% of PROFIT. Year 4? Nothing. It has to be based on PROFIT not REVENUE.
Structuring a company and then issuing "shares" in an app is insane to me given the likely lifespan of an app. Too much hassle.
Press releases are a good start...but not really a full launch strategy. It takes a bit more coordination and intent. This link (http://untether.tv/2014/pr-mobile-application-cheap/) is to a video that highlights a few concepts on how to launch right with PR and this link (http://untether.tv/category/mobile-app-minute/) has 20 other similar episdes on how to launch and market your mobile app.
Hopefully these help! Good luck.
I'll have to echo Humberto Valle when he asks why you need a resume at all when you are starting a startup. This doesn't really make sense and, from an employers perspective, a red flag that says at best you are temporary, at worst you are distracted. I would take a hard look at what you are doing and decide if you want to start something or work for someone. Then, read Humberto Valle's advice on focusing on the outcomes you've achieved while helping with the startup and move on.
Startups aren't part time IMO.
You can add a license component to the app that checks your server for validity when it launches (there are actually services that do this for you if you don't know how to). This way you can offer trials of varying lengths and leave the in-app stuff to for purchasing. I've done this set up with my previous company and it worked exceptionally well.
Pretty generic question but I would answer what you consider "making it" is first. Are you trying to earn revenue? Is this an altruistic venture? Is this an extension of an existing business into mobile? Craft the strategy first. Whatever you do, DON'T do it because you "think" you can. That is surely going to lead to a disaster.
It is easy to gauge your chances - ask your target customer. The process is simple: Define who would use your app and why. The "why" is the hard part. If you can build something of value to a group of users, success happens. If you find something that is causing them pain and build an app that alleviates that pain, success happens. If you start with the "why" the rest flows. If you start with the "app" and your isolated thoughts about why YOU think it will be successful, it usually doesn't end that way. Start with the "why" then answer the "how".
If I had to pick a single efficient and affordable way of getting in front of a targeted audience I would have to recommend Facebook in-stream ads. You control the budget, the target group and the message and they are, right now, offering the highest conversion rates for mobile apps. Keep in mind that your app needs to be amazing - that's the most effective strategy of all...
The viral strategy needs to be a natural extension to the app that requires SMS - not sure you want to just use it for the sake of it being viral (seems forced).
A perfect example of this is the Twist app. The app tells someone you are meeting with when you will arrive. When you set up a twist a text message is sent to the person you are meeting with (if they don't have the app installed). The message says you are on your way and if they'd like to know when you will be there, download the app. It has been effective because it solves a problem, gives the end user an option and extends the usefulness of the app's original purpose.
Hope this helps!