Is COVID-19 Pandemic Ideal Time for Your Startup or Mobile App Ideas?

Mobile app ideas for startup

The COVID-19 pandemic has brought a drastic change in the world. Many of the large countries are passing through a lockdown that puts the world economy in shambles and invites the long-due recession hastily. The worst condition is obviously of startups that have started feeling that they probably will not see the sun of a boom period. Read below the best and simple mobile app ideas for startups.

The coronavirus outbreak has brought a dilemma for many entrepreneurs out there. They probably think about whether they should start their business in this troubling time or wait till the dust has settled. There is a strong reason for this dilemma. People believe that the economy is on the verge of downfall that will lead to a mass loss. However, here there is a silver lining in the form of a mobile app ideas.

mobile app ideas

Let’s not waste time and dig deep into the benefits of a mobile app development during an evident downturn.

Read on:

Top Reasons Why Entrepreneurs Should Go Ahead with Startup or Mobile App Idea

  1. Little or no competition

Many wannabe entrepreneurs will simply wait for the situation to be normalized or at least favorable for earning money easily. It gives enough room for adventurous and aggressive entrepreneurs to establish. Take an example of Salmon fish. It is one of the types of fish that prefer to swim the opposing current. Startup owners or entrepreneurs who just do not detach from their goals and stick to their objectives can come out stronger once the COVID-19 pandemic is over.

There is no exaggeration in mentioning that survivors of this recent outbreak will among the biggest beneficiaries of stability in the economy.

  1. MVP is enough

The best thing about a recessionary economy is it promotes innovative thinking in every business aspect right from fundraising to hiring people. One of the innovative solutions is developing an MVP (Minimum Viable Product). The mobile app development company can assist startups to come up with an MVP that can be the best option to generate revenue during the recession and ensure self-sustainability of business.

An MVP takes less time to develop and therefore, the development cost is less as compared to the mobile app. So if you have an excellent mobile app idea, you can bring an MVP first.

  1. Some niches are still making profits

Not all industry sectors have been affected due to coronavirus outbreak. Entertainment apps, on-demand grocery delivery apps, meditation and healthcare apps, and on-demand food delivery apps can generate revenue for any startups during this time. In fact, grocery and food delivery apps have witnessed a huge surge in the number of downloads in recent times. During February to March 15 period, Instacart and Walmart Grocery have seen 218% and 160% jump in the number of daily downloads respectively.

As an entrepreneur, you can also consider some recession-proof businesses to make the most of this difficult time.

  1. Hire and retain talent at low cost

Yes, unemployment will rise in most countries once the pandemic is over. But, the lockdown situation and recession will offer some benefits to startups. You can easily hire fresh talent at a much lower salary and retain them for a long time. During recessionary times, people get ready to work for below-market salaries, and startups can afford to hire them. Simply put, small companies or startups with budget constraints can also hire people with the necessary skills.

Also, the downfall brings many refugees from big companies into small companies and startups depending on the sector. There expertise and experience can help your startup flourish.

  1. Value proposition advantage

This slowdown or downturn will make the overall business scenario less competitive especially for startups. It is possible for new players or startups to modify the value proposition to make them more suitable to the prevalent market conditions. Simply put, startups can remain more resilient to the adverse impact of the recession.

Let’s understand this value proposition with a simple example. Suppose, you have developed a product to enhance productivity. This product can be promoted as a ‘revenue generator’ when the times are good, whereas, in a critical situation like the recent coronavirus outbreak, you can market the same product as a cost-saving tool when the market is down. At times, people do not use some tools when time is good, but when the time changes, people tend to use these tools more frequently. The same is true for the mobile app idea.

  1. More time to measure and analyse

Troubled times like the pandemic can always reduce competition across various industry sectors. It is an optimum situation for startups to survive and thrive. Be it your mobile app idea or a business idea, you need to measure and analyze all the steps before and during implementation. As the market economy improves at a slow pace during the recession period, you can easily make a plan and implement everything properly.

Finally, if you want a prosperous future, the COVID-19 pandemic is an ideal time for establishing a startup or implementing a mobile app idea. This is a time to act and as an entrepreneur, you just cannot afford to remain on the sidelines. Business is about the bigger the risk, the bigger the success. Let’s conclude with the example of the healthcare sector.

Many countries across the world including the US have decided to spend millions of billions of dollars to fight the COVID-19 pandemic. Apart from the healthcare sector, tech startups and healthcare IT companies can get benefits from this spending. mHealth apps and self-diagnosis apps can be good bets during this difficult time.

It is fair to mention that there are still some opportunities startups can explore and flourish even when the coronavirus outbreak is not defeated yet. All they need to come up with an innovative idea and a seamlessly-performing mobile app.

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Article Author Details

Robert Jackson

Robert jackson is a content cum digital marketer at Solution Analyst, a leading mobile app development company. He is an avid reader and likes to remain updated for technological advancements in the domains of web, mobility, IoT, and emerging technologies. His articles are informative and interesting at the same time as he expresses insightful thoughts clearly.