WHY COVID-19 OUTBREAK IS PUSHING STARTUPS TO INVEST IN SOFTWARE DEVELOPMENT?
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| Mobile App development company in Dubai |
Uncertainty tangles deeply in all facets of life. Regardless of your social life, anonymity, or technical aspect, shooting in the dark is part of every corner, making every decision, a challenge!
Perplexity is at an all-time high in the midst of the current COVID-19 pandemic, particularly for UAE corporations, entrepreneurs, and tech companies.
Add to that, there is a cut-throat rivalry as the organization struggles to survive. Nations across the globe are experiencing a full shutdown that directly puts a strain on every company’s economy and survival — small to medium in scale, and big to the flourished brand.
So the subtle difference businesses need to pay attention to is “How to drive their company through unpredictable times?”
I’ve outlined several avenues here in this blog for you to get through some doubt, and stand together in tough times. Why entrepreneurs will navigate the behemoth waves throughout the pandemic ocean effortlessly, too.
1. HAVE YOUR NICHE “A UNIQUE BUSINESS IDEA” — YOUR BRAND IS THE ARCH TO SUCCESS!
The morning of many current companies pretentious to the crux of not seeing the light of the booming economy lies in the middle of all the difficulties and unexpected. The problem that most entrepreneurs need to be in the center now has to be definitive — whether dangerous Coronavirus time is the right time to invest in the concept of creating mobile apps or starting a company.
So, without any further ado, let’s jump to the main core.
It’s suspected to scare off the wantrepreneurs from the arena in the darkness of the current situation. We only begin when conditions favor the opportunity to quickly earn money. This gives the emerging businesses enough room to outgrow from their cocoon and believe in standing out from the crowd.
Take Salmon fish, for instance, it runs into an upstream against the opposing current, it also hops waterfall and does not stray from its target irrespective of the exogenous conditions, which will upthrust stronger after the pandemic is over and make the economy stronger once again.
2. TODAY’S MVP MAKE YOUR BUSINESS STABLE FOR TOMORROW
A true startup recognizes that it is the best source of revenue for any company in the customer’s pocket and not capital investments. Since Sequoia Venture capital has reported that COVID-19 is now in the pickle with the 2020 “Black Swan,” companies that had been planning to fundraise.
Undoubtedly, this is one of the obstacles, or better, to claim the recession’s impact on companies and markets in general.
De facto, in a recessionary economy, it’s not desirable for startups to rely entirely on such particular funding. That is when the response to “Why you need MVP” unravels. In this instance creating an MVP is the perfect option to generate revenue and ensure self-sustainability.
As most know, MVP is not an over-engineered solution, it takes less time for development and, on top of that, the cost of development suits your wallet very well.
3. IF THE APPS ARE POCKETING BIG, SO CAN YOU!
Time to unfurl some niches and their applications which are the hot-pick of today and are really capturing business opportunities as they arrive during the recession.
· Streaming and Entertainment Apps
The latest events have at present drawn attention to the fact that people are able to spend on streaming services now. When the entire world is on lockdown, people reach out to these mobile entertainments to have quality time without coming out of their cocoon.
Things may not be as smooth as it is on the development side for Netflix, though, as reported by Yahoo. An app like Netflix in this environment inevitably generates immense revenue as the app downloads and rentals are on an unscalable level.
Moreover, people spend a larger portion of their everyday life on streaming. The more hours spent on streaming would eventually help the company anyhow as regards the latest trends.
It’s something entrepreneurs will look for to reap advantages and curate their place in the landscape.
The entertainment hasn’t let the famous app wade away from the picture like Tik-Tok. Nowadays, a lot of celebrities are seen making videos on Tik-Tok while the whole country is on lockdown. Never only do they do it for the entertainment factor but they also use it to spread knowledge or the implicit pleasure of doing something on the web to nothing.
So, alongside the industry rivals, recruiting Mobile App developers in Dubai with extensive knowledge and the ability to unleash an app’s MVP in the marketplace is important.
· Meditation and Mental Peace Apps
As per Adweek, by missing the 31st position in the last few weeks, a meditation app has earned a place on 41st number in the health and wellness category. Apps like themselves and Better Me, as well as other meditation devices, have dropped to 26 levels.
In addition, the Ginger app and many other mental health channels provided to their workers by employers have seen a increase in use as workers have switched to online resources to cope with their anxiety in a more channelized way.
· Video Conferencing & Project Management Apps
Since organizations have introduced work from home, the app store’s download of video conferencing apps like Zoom, Asana, and other reliable apps have seen a tremendous rise in.
So, this strategy not only makes your job easy to handle for now but keeps you up-to-date on the future trajectory.
· Grocery Store App Segment
Because of the social gap and lockdown, people are still dependent on the food delivery app. In fact, when comparing the average daily downloads from February to March, it was observed that apps like Walmart grocery, instacart, and other apps saw a sudden decline of 160 percent and 218 percent respectively in their daily download.
The credit for all this upsurge goes to first achieve the “Contactless Distribution” initiative in China.
For other recession-proof businesses, such as online grocery delivery, most benefits are taken.
4. GRAB THE BRIMMING TALENT, AT A LESSER RATE
This is undeniable, one of the recession’s most noticeable impacts on emerging businessmen. After the lockout situation is over and recession inevitably reaches the global economy, the high rate of unemployment would prevail — something you will take advantage of as a company, luckily.
You should employ a software development company instead of experts with a variety of skills to deliver. As bleak as it is, people are more positive in recessionary times about doing the job for lower salaries in exchange for rewards and equity-based compensation.
Eventually, a market going downward often produces many refugees from major flourishing brands. With their skills and know-how, they can support startups.
5. CHOICE TO ALTER VALUE PROPOSITION WITH MARKET DEMANDS
Regardless of the organized establishment, you can easily change the value proposition of your company to make it more consistent with the current market slowdown phenomenon and mitigate any adverse effect on business from the recession.
A bend in the lane, after all, isn’t the end of the road when you go for the turn.
Let’s say the product you’ve created Enhances profitability, to make the picture clearer. Then, when the good time comes, you can advertise it as a “revenue driver” while it seems more appealing in situations like this where the economy is experiencing a slowdown, it can be presented as a “cost-saver” — .
6. HIRING THE RIGHT RESOURCE IS AFFORDABLE
This is certainly not a brain teaser that the resource prices will drop significantly in the recession ahead. Thus, the best software companies in Dubai can easily hire proficient as well as newcomer developers.
In addition, anything else needed to fuel your startup will ultimately cost you about $25–49/hr.
Time and money are the two most important elements, of an entrepreneur. When the demand is down, the businesses are forced to bargain for in-kind items below the price list and some even to barter. These unique circumstances allow you to make deals reducing costs while saving the cash.
7. ENDURE NOW TO ASSURE A PROSPEROUS FUTURE
Ultimately, if you want to mellow down, you may not hit the ultimate heights of success that you can easily attain by riding these dangerous tides. The main goal is — don’t stick to the sidelines and wait for problems to die. The company, after all, is nothing more than risk-taking.
The the the risk, the more success is paramount.
IN THE END… “ALL THAT MATTER IS SURVIVING THROUGH THIS PANDEMIC”.
But, if you succeed in yearning through this COVID-19 and recession time, you will certainly emerge as a successful start-up as opposed to those industry names starting with a strong economic turnaround.
Apart from these fair and impeccable advantages of starting up a start-up or creating an app during this pandemic period, “BrillMindz Technologies” provides the helping hand that can play in favor of start-up technology. Eve, their Dubai software developer also validates the fact that recessions are the ideal time for investing in one’s app and starting a business.
Contact us for more information:-
ph:- +971 50 282 6592
email:- info@brillmindz.com
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