It’s important for me to be completely transparent about how we intend to make money at Bearable, as it is inextricably linked to our values and responsibilities as a company, not least due to the sensitive nature of information our users will be recording in our app.
This is something that has become even more relevant in recent years, after the scandal with Facebook and Cambridge Analytica, who were selling and exploiting people’s data in a completely non-transparent and unethical way, which resulted in an understandable lack of trust in companies’ handling of personal data.
With this in mind, I want to emphasise that we will never sell our users’ data to anyone. Companies tend to resort to this out of desperation or greed.
So how do we intend to maintain the balance of making enough money whilst still retaining our integrity and ethical principles?
- Our main goal is to try and improve people’s lives by helping them to reclaim control over their health. This is paramount and will never be sacrificed for greed. In order to facilitate this main goal, we need to make at least enough to maintain the app and make incremental improvements based on our users’ feedback and requests.
- There needs to be a business-minded approach. We would be doing an injustice to our users and ourselves by going into this without any financial structure, as any benefits people might get from the app would be unsustainable if we ultimately ran out of money.
- We want to be affordable for all, whilst also providing a free version that allows users to still experience most of the app’s most useful features.
It’s been quite eye-opening going from app user to app provider. I was once someone who questioned the ethics of app providers (particularly health-related apps) in charging a subscription for their product. However, now that I’m on the other side, I’ve become much more understanding, having truly seen the number of resources required to create and, more importantly, maintain an app. I personally now try to compare app subscription prices to the benefits of other products I spend money on. For instance, if I think I’ll derive more lasting benefits from using an app almost every day for a month than say, one or two similarly priced cups of coffee, then it’s clearly worth it for me.