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Application Design and Development (Mobile or Desktop) Disruption Mobile App Money & Finance Startups

Top 4 Ways To Keep Wearable App Development Costs In Check

A few stats to share about wearable app development niche.

  • The wearable market will exceed 4 billion dollars in 2017. (Source)
  • 54% of the companies have started investing into BYOW (Bring Your Own Wearable) model. (Source)
  • Companies have started testing wearable apps for security access, employee time management, communication and other use cases. (Source)

The numbers don’t lie and make certain that wearable devices like- smart watch, smart glasses, smart shoes, smart belts and pretty more have succeeded in garnering the lion’s share of buzz.

The beginning of a revolution in the consumer wearable market is compelling every business, no matter what industry they belong to, to consider the potential advantages wearable is offering and make a shift towards Wearable app development.

The tiding shift from Mobile app development to wearable is on the rage as it is not just connecting businesses with customers, while also generating the tsunami of data, which if analyzed intelligently, the businesses can turn the table upside down.

Also, the tech giants such as Facebook, Google, Apple, Intel, and Samsung have spent billions of dollars on smart wearable to bring major changes into the computer paradigm. So, to set the stage, the businesses have to craft a wearable app that offers the best services. That’s why businesses are investing thousands of dollars to build a wearable app which transforms the way people work and interact.

Although setting aside a budget for app development is imperative, but over investment is not a good option. If the companies are doing so, they are making a big mistake. The businesses have to create the best strategy to maintain a fine balance between the app development cost and functionalities.

Take a look at how wearable app development cost can be kept under control:

Wearable App Development Cost

Don’t bank on obsolete sensors

With the launch of a smartwatch, the need to carry a smartphone to pay for the things is alleviated. Now, with new nanosensors that can be attached to bodies, clothes, or jewelry in the market, the sensor laden devices will soon become out-of-date.

When the businesses plan to build a wearable app for early hardware, then their wearable app will become archaic before it makes its way to the market. It costs too much!

Certainly, you don’t want this to happen. Consider the device that has complete a computing system that can sense, connect and intelligently process the data, to build your app. It really makes sense to forget the devices laden with dumb sensors and make your app future-proof.

Don’t keep wait-and-see approach

The smart devices are the result of constant effort and creating something that’s out-of-the-world. When businesses want to integrate wearable DNA in their work, services, and offerings, then taking a risk to innovate is essential, else building an app for every wearable device will create no difference.

The experimentation and contribution help the businesses to maintain an edge in the market. Also, upgrading the wearable app with updations in hardware and OS stays at the core to get the benefit of advancements.

Waiting for others and then chasing them won’t bring million dollar revenue. Come up with new insights and incorporate them into wearable app development that will make your app succeed while staying in budget.

Don’t kill your creativity

Following hardware-driven approach never allows the businesses to achieve the goals. Restricting the development capabilities according to device capabilities don’t allow the businesses to build a wearable app for the need they have and end up losing the dollars as well. Thinking differently from the beginning will help the businesses to make something that’s not possible.

For instance: Building a general Google glass app is not a big thing, but crafting an app for different use cases leveraging augmented reality is reward-worthy.

Build the functionality that wearable support

Keeping the creative thinking cap on is brilliant, but it’s necessary to check that the features you are developing for the hardware will work on it or not, and they are compatible with wearable OS or not. It implies the real life use case must resonate with the wearable capabilities, else it will be equivalent to an inaction.

For instance: Making an effort to build and integrate Fitness app solution like – REPD app functionalities in the smart watch makes no sense. As, the app allows the fitness enthusiasts to find any gyms in their close vicinity, but the smart watch is incapable of displaying the nearby areas.

Takeaway

Thanks to the willingness of consumers to adopt new technology that’s pushing the businesses to embrace and make it as an integral part of the work. The immense growth in wearable development is the consequence of the same. But, tapping the full potential and making the advantages with wearable is only possible when the development cost is kept under control.

It’s possible!

When the businesses avoid a few expensive mistakes such as following a herd mentality by developing apps using dumb sensors, not coming up with innovative solutions and waiting for others to see the result, developing the feature without checking device compatibility and much more.

Be a champion in wearable app development and bring the winning outcomes by keeping costs in check.

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Business

8 Practical Initiatives for Minimizing Small Business Startup Costs

Most new businesses fail within their first two years, and the main reason is due to insufficient capital. Even if your product has a strong customer demand, you can still wind up having to close your business if you don’t have access to enough money to keep you solvent.

It is often difficult to know exactly how much money a startup will need, so to be on the safe side, there are a few steps you can take to minimize your initial costs and increase your startup’s revenue.

8 Practical Initiatives for Minimizing Small Business Startup Costs

Image credit: Photospin

Start your business at home

This is a huge money savings move, especially in a sluggish economy. By working out of your home, you can save on the expense of renting an office. Of course, once you start hiring employees, running your business out of your home may become impractical; however, until you’re at that point, it may make sense to work from home. In some cases, part of your rent or mortgage may be written off as a business expense.

Start your business part-time

You know the old saying, “Don’t quit your day job”. Oftentimes the pressure of trying to run a business is extremely taxing and failure is too great of a risk. By keeping your job and starting your part-time business, you will be able to maintain a steady income stream which can give your startup a better chance of succeeding.

Rent a storage facility

This is a particularly good way to save on the costs of storing raw materials, inventory or equipment. For those running a business out of their home, this will save a lot of space at home and allow you to develop a more efficient working environment. For those working a retail business out of their home, storage is often a road block to success.

Rent instead of buying

Depending upon the nature of your new business, it may make more financial sense to rent instead of buying. Paying cash for equipment means increasing your start-up costs, purchasing it on credit means you’re saddling your new business with debt. It is better to rent your office equipment as often as you can, so you are paying as you go.

Outsource payroll services

There are many good companies that allow a business, large or small, to have their payroll done online. Data is uploaded, and everything is done for the business owner. Payroll taxes are computed as well as other deductions. The money is transferred directly to the employee’s bank account.

Accept credit cards

Studies have shown that when a business offers credit cards as a payment option that customers tend to spend more money. Therefore, make sure you sign up for a merchant account so you can accept credit cards securely. Although you will have to pay fees for each transaction, you will generally process more transactions when you accept credit cards and the average transaction will be higher.

Use VoIP for your phone service

This can be a great money saver for a small business with several employees that are on the phone regularly. All phone numbers and phone calls are routed through an Internet connection to a phone service provider. They take care of all phone maintenance and your system can be expanded easily as your company grows. Employees will have the same speed and quality of any local phone service, but as a business owner you will be paying less for the phone service.