4 Ways to Make Money NOW with XR
Augmented, Virtual, and Mixed Reality aren’t the future: they’re the present
If you’re a business owner, leader in your company, or entrepreneur, surely you’ve heard the never-ending buzz about VR, AR, MR, XR, Metaverse, Crypto Blockchain, Web3… the list goes on.
And surely you’ve heard the doomsday prophets telling you to drop all the other opportunities in front of you, stop worrying about the real fires you’re putting out every other day, and jump on the future train OR ELSE.
And you’ve probably politely nodded your head and handed them an “I’ll look into that” while getting back to the 8,000 other things it takes to run your business.
And you said that because you are convinced that XR is a thing of the future — an idyllic world where technology seamlessly integrates into our lives.
But this is your friendly, realistic warning:
if you continue to just nod your head instead of taking action,
you’ll miss out on all the ways you could be
saving or making money in your business right now.
Here are just four examples (out of thousands) to get you started:
1) Training
Enabling high-fidelity, immersive training is saving companies millions of dollars every year.
I cannot confirm or deny (legally), but let’s imagine that the patent I authored at the DOD is used on a daily basis.
Let’s imagine that with it, a certain organization is now saving $200k per person per year, and providing better training experiences than ever before.
Hypothetically speaking… that’d be a big win.
2) E-commerce
You’ve probably seen companies like Ikea showing customers what furniture would look like in their house, Lowe’s letting customers visualize a new paint color on their wall, or Amazon helping members to try on shoes.
All the tech is there for you to start putting your product right in front of your customer’s eyes, placing it into their environment or *onto* their body!
3) Manufacturing
Whether your company builds a physical product or materials for physical products, you can join the growing list of companies that have started using XR to save loads of time and money.
Whether building out a super-yacht or making toilet paper, XR helps teach “tribal” knowledge, reduce mock-up review meeting times, and even lower failure rates.
Look for the issues in your manufacturing flow:
Where does the process stall?
Where does it fail?
What’s the most common issue that holds you up, wastes money, or frustrates employees?
Start there and investigate how XR could solve that problem.
4) Healthcare
XR is being used to train healthcare providers how to perform procedures properly, refreshing them on best practices for safety, and even enabling providers to care for rare pathologies with holographic patients.
In organizations utilizing XR tech…
Doctors are completing ward rounds 30% faster, at an average savings of $41 per hour.
Training time is being reduced by 30%, at an average savings of $63 per labor hour.
PPE costs are being reduced by 75%, saving $954 per employee.
And that’s just the beginning.
So what are you going to do with these opportunities? Here’s what I suggest.
In the short term…
Use the technology that exists today to create meaningful XR experiences that will generate revenue or save money.
In the long term…
Be prepared for future mass adoption by building up your infrastructure to capture a large market segment of the XR space as it expands into a multi-trillion-dollar market.
You’ll be ready to jump onto new platforms quickly and establish your brand as a major XR player!
Do you need further guidance on how to navigate this for your business specifically? DM me on LinkedIn and we can chat!
