Uncertainty is firmly tangled with all aspects of life.  Irrespective of your social life, privy liveliness, or professional dimension, shooting in the dark is part of every nook, making every decision, a challenge!  

In the middle of the current COVID-19 pandemic, perplexity is at an all-time high, especially for businesses, entrepreneurs, and software companies in UAE.

Adding on, there is a cut-throat competition as the business struggles to survive. Nations across the globe are witnessing complete lockdown, which directly puts a strain on the economy and livelihood of every company – small to mid-size and large to flourished name. 

Therefore, the subtle difference startups must pay attention to be “How To Accelerate Their Business Through Uncertain Time”?

Here in this blog, I have highlighted some ways for you to pull through any uncertainty, and stand together in difficult times. Also, how startups can sail seamlessly the behemoth waves in the pandemic ocean.

Also Read: The Ultimate Guide for Estimating the Cost of Hiring Software Developer in the UAE

1. Have Your Niche “A Unique Business Idea” – Your Brand is the Arch to Success!

Amid all the hassle and unforeseen, lies the tomorrow of many existing startups businesses pretentious to the crux that they might not see the sun of the booming economy.  The puzzle that most of the entrepreneurs must be in the middle now has to be decisive – whether perilous Coronavirus time is the right time to invest in mobile application development idea or to start a business. 

So, without any further ado, let’s jump to the main core.

In the haze of the current situation, it’s believed to scare-off the wantrepreneurs from the arena. They only commence when the circumstances are in favour of the possibility of earning money quickly. This provides enough space for the budding businesses to outgrow from their cocoon and believe in standing out from the crowd. 

Take Salmon fish, for example, it flows against the opposing current towards an upstream, jump waterfall too and does not wander from their goal irrespective of the exogenous conditions, that would upthrust stronger after the pandemic is over and the economy again make its hold stronger.

2. Today’s MVP Make Your Business Stable For Tomorrow

A true startup knows that the best revenue source for any business in the pocket of the customer and not capital ventures. Since Sequoia Venture capital has stated that COVID-19 with the “Black Swan” of 2020, firms who were expected to fundraise are in the pickle now.  

Undoubtedly, this is one of the obstacles or better to say the effects of the recession on business and markets in general. 

De facto, it’s not ideal for startups to be entirely dependent on these specific funding in a recessionary economy. This is what unfurls the answer to “Why you need MVP”. Building an MVP at this instance is the ideal choice to produce revenue and make sure self-sustainability. 

As most know, MVP is not an over-engineered solution, it consumes less development time and on top of it, the development cost easily fits your pocket.  

3. If the Apps Are pocketing BIG, So Can You!

Time to unfurl some niches and their applications that are today’s hot-pick and are truly capturing the business opportunities during the recession as they arrive. 

• Streaming and Entertainment Apps

At present, the recent events have shed attention to the fact that people are now willing to spend on streaming subscriptions. While the entire world is on lockdown, people are reaching out to these mobile entertainments to have quality time without stepping out from their cocoon.   

However, things might not be as seamless as it’s for Netflix on the production aspect, as per Yahoo reports. Without any doubt, app like Netflix in this landscape are driving huge revenue since the app downloads and subscriptions are on an unscalable level.  

Meanwhile, people are spending a more significant part of their daily routine on streaming. As of the present trends, the more hours spent on streaming will eventually benefit the company anyhow.  

It’s something that startups should look up to reap benefits for curating their niche in the landscape. 

The entertainment has not left the popular app like Tik-Tok wade away from the picture. Nowadays, when the entire nation is on lockdown, many celebrities are found making videos on Tik-Tok.  They don’t just use it for the fun factor but utilize it for spreading awareness or the subtle joy of doing from everything to nothing on the app. 

So, alongside the competitors in the market, it’s essential to hire software developer in Dubai  with comprehensive knowledge and skill to unleash an MVP of the app in the market. 

• Meditation and Mental Peace Apps

As per Adweek, a meditation app has secured a place on 41st number in the health and fitness category by skipping the 31st spot in the past few weeks. Apps like itself and  Better me, and other meditation app has slide to 26 positions.   

Moreover, Ginger app and many other mental apps health platforms offered by employers to their employees have observed an upsurge in utilization since employees have turned to online tools to handle their anxiety in a more channelized manner. 

• Video Conferencing & Project Management Apps

Since organizations have implemented work from home, the app stores have seen a magnificent rise in the download of video conferencing apps like Zoom, Asana and other reliable apps.   

So, this approach not only makes your work easy to manage for now but keeps you abreast the trajectory for the future. 

• Grocery Store App Segment

Due to presently social distancing and lockdown, people rely on the food delivery app. In fact, comparing the average daily downloads from February to March, it was observed that app like Walmart grocery, instacart and other apps had shown a sudden drift in their daily downloads by 160% and 218% respectively. 

The credit for all this upsurge goes to the “Contactless Delivery” initiative which was accomplished in China first. 

Among many recession-proof businesses like online grocery delivery are taking the most benefits. 

4. Grab The Brimming talent, At A Lesser Rate

This is undeniable, one of the most noticeable effects of the recession on budding entrepreneurs. Once the lockdown situation has completed and recession finally hits the world economy, the high unemployment rate will prevail – something you can, thankfully, take advantage of as a startup. 

Rather than professionals, you can hire a software development company with a lot of capabilities to offer. As dismal as it is, in recessionary times, people are more enthusiastic about doing the work for lesser salaries in return for benefits and equity-based recompense.  

At last, a market headed towards the downfall also generates many refugees from big flourished names. They can help startups with their skills and expertise.  

5. Choice To Alter Value Proposition With Market Demands

Regardless of organized establishment, you can easily amend your startup’s value proposition to make it more compatible with the latest trend being the market slowdown and minimize any adverse impact of the recession on business.

After all, a bend in the road is not the end of the road as you go with the turn. 

To make the picture more clearer, let’s say the product you have build 

Enhances productivity. Then, when the good time comes you can market it as a “revenue generator” while, in scenarios like these when the market is witnessing a downfall, it can be portrayed as a “cost-saver”- seems like more promising.  

6. Hiring the right resource Is Affordable

This is for sure not a brain teaser that the price of resources will significantly drop in the coming recession. Thus, you can easily hire proficient as well as newcomers developers from the best software companies in Dubai. 

Besides, everything else required to fuel your business startup will eventually cost you around $25-49/hr. 

As an entrepreneur, the two most critical aspects are time and money. While the market is down, companies are made to negotiate below the price list and some even barter for in-kind services. These specific situations enable you to make deals minimizing the cost and save the cash though. 

7. Endure Now to Assure A Prosperous Future

Lastly, if you want to mellow down, you may not achieve the desired heights of success which you can easily accomplish by riding these perilous tides. The core objective is – don’t adhere to the sidelines and wait for uncertainties to perish. After all, business is nothing more than taking the risk. 

The bigger the risk, the more paramount the success.

Also Read: Professional Web Design and Development Companies: Reasons to Hire it!

In The End… “All that matter is surviving through this pandemic”.  

 Although, if you can manage to yearn through this COVID-19 and recession period, you will for sure emerge as a successful startup as opposed to those names of the industry starting at a strong economic turnaround. 

Aside from these reasonable and impeccable benefits of the inception of a startup or developing an app during this pandemic time, “Xicom technologies”offer the helping hand that may play in the favour of technology startups. Eve, their software developer in Dubai also validates the fact that recessions are the ideal time to invest in one’s app and start the business. 

Nevertheless, this is not the world’s first recession and supposedly not the last and the same holds true for the pandemic (unfortunately), these may be just an excellent time to start a business and the right time to flourish.

If you are a startup looking for the right trajectory in curating your niche in the industry, you can surely benefit with your Free Project estimation to a great extent

Time To Be Human, Helpful & Sensile, but Don’t Coup The Situation!

I hope this blog helped you understand how you can give back to the community and survive during times of uncertainty. You can volunteer or donate funds, invest in small-scale businesses, or offer products and services that help the people survive the challenges. However, it is also essential to show restraint and compassion in such trying times.