Bringing about new ideas, methods, products or solutions etc and implementing them to mass-produce a positive impact that holds value is termed as “innovation”.
The whole idea of being innovative is to maximise productivity and creation of new ideas that can lead to discovery of new business models and new ways to manufacture.
I justify innovation by quoting “Nothing changes if nothing changes.” Well if nothing changes nothing grows and eventually, it all stays the same. We need a constructive outcome, we need an advantageous change which is in high demand and a meaningful difference altogether.
Which is why I’ll be talking about App Development as a tool in business.
If you have a great idea for an app and have the skills to make it happen, it can prove to be a lucrative and rewarding endeavour, even those without any external knowledge of coding can make this happen, ensure to do a little research and make sure your idea hasn’t already been tested and there’s a potential market for it before looking for investors.
App development is gathering business requirements, designing, testing and ongoing improvements and debugging of software.
And when someone raises the question,Is app development still in demand ? well let me tell you, with around 8 million hovering around iOS and Android platforms, the app development sector is insane. It shows no signs of slowing down anytime soon! According to my research, global app spending is projected to surpass $53 billion in 2024 which is pretty impressive.
TikTok was the top grossing app in 2023 generating a whopping $2.7 billion in revenue, for your knowledge, that’s how much potential an app could have when entering a market.
Both big businesses and small businesses can develop apps. In fact, small businesses have several advantages when it comes to app development
Cost-Effective Tools:
There are many affordable app development tools and platforms available that cater specifically to small businesses. These tools often offer templates and drag-and-drop features that make app development accessible without needing extensive coding knowledge.
Open Source Resources:
Small businesses can leverage open-source libraries and frameworks to reduce development costs and time.
For example, a small business that developed its own app.Headspace
Overview: Founded in 2010 by Andy Puddicombe and Rich Pierson, Headspace started as a small meditation app aimed at
A specific type of app can mint money however, many others can’t. It is typically difficult to put a single figure on how much revenue an app can generate because of the wide spectrum of apps and the disparity of money they earn, again it all depends upon Your whole idea, Your innovation.
Duolingo is an app that gamified language learning and changed the way people learn new languages. Through bite-sized lessons, it makes language learning more engaging for everyone. The app’s interface is also clean and visually appealing, making it enjoyable for users of all ages.Duolingo has over 500 million registered users, and 37 million are active once a month. Duolingo has 100+ available courses in 38 languages available on its platform. Duolingo has raised a total of $183.3M in funding over 8 rounds.
App development is not a one-off effort. Knowing how to develop an app is easy but knowing how to create an app that would be consistently successful in the years to come is what will significantly differentiate you from the competition. It might be a hard task but the outcome will be worth your while.
Innovation in business can take many other forms:
1.Embracing in technology
Utilise the latest technologies such as AI,machine learning and block chain to streamline operations or develop new products and services.
2.Customer centric approach
Focus on understanding the needs and preferences of the customers.Use data analytics to gain insights and personalise offerings.
3.Explore New Business Models
Experiment with different business models such as subscription services, freemium models, or platform-based approaches to create new revenue streams and value propositions.
4.Collaboration and Partnerships
Partner with other businesses, startups, or academic institutions to co-create innovative solutions. Collaborations can provide access to new technologies, markets, and expertise.
What I inferred from writing about Innovation is that to contribute to the success and sustainability of small and large businesses by managerial organisations, producing processes, and strategic planning.
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