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Avoid these pitfalls when starting a robotics business

(TECH NEWS) Regardless of what happens in the world, tech keeps moving forward. If you want to ride that robotics business wave, here are things to avoid.

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robocalling robotics business

There’s never been a better time to start a robotics business. Robots have been around long enough that you can find parts and support easily, but not so long that the market’s saturated. If you have an idea for a robotics company, now’s an excellent time to follow through on it.

Before you rush into creating your startup, though, you should consider a few things. No matter how desirable a market’s climate is, starting a business is a complicated and challenging venture. Of the millions of small businesses that start every year, only half will survive past five years.

It can help to see what other robotics businesses did right. It’s even more helpful to understand where failed ones went wrong. If you’re going to start a robotics business, avoid these seven common pitfalls.

1. Moving Too Quickly

Setting deadlines for yourself is an excellent way to stay motivated and productive. Just make sure your deadlines are reasonable. Too many robotics startups rush to push out their product without spending the necessary time refining all the small details.

Robots are tricky machines, so it’s worth spending the time getting them right. Starting a robotics business involves more than just making robots too. It’s a mistake to try to handle product development, financial management and legal paperwork all at once.

Even after launch, understand that it will take time to start earning any significant amount of money. Don’t be lazy, but don’t overwork yourself, either. Moving too quickly will result in bigger losses than anything you have to gain from it.

2. Having Too Broad a Vision

The robot market may not be saturated, but it’s still considerable. You need your robots to stand out in the crowd, and that requires a specific vision. What problem does your robot solve, and how does it do it better than any other option?

It’s not realistic to make a robot that everyone will buy. You need to identify a specific niche audience and create something that suits their needs. Even then, you need to specify what sets your robots apart from the competition.

Are you making a robot for factory work? What separates yours from the abundance of robotic arms in the manufacturing industry? Identify a need within your target audience and work to address it.

3. Rushing Into Hardware

If you’re starting a robotics company, then you probably want to start making robots immediately. Believe it or not, this is a mistake. Save your resources and save the hardware building for later.

Why shouldn’t you start working with hardware as soon as possible? It’s expensive, and robots are complicated. You need to work out all the kinks in your design before you start spending on materials.

You’ll most likely go through several models before you have your final product. If you build physical versions of each one, you’ll quickly burn through cash. Don’t mess with the hardware of your robots until you’re confident of your design and have more capital.

4. Waiting to Make Connections

You may want to wait to connect with consumers and investors until you have a finished product. It may seem like jumping the gun, but making connections early is crucial to your startup. If you don’t, your robotics business is almost sure to fail.

Talking with potential customers helps you see what their needs are. This information will help you create a more marketable robot. These conversations also help you establish your name in the industry before you bring your product to market.

It’s also essential to connect with investors early on. To build your company, you need capital, and capital comes from investors.

5. Turning to Too Many Investors

While you’re talking to these investors, make sure you don’t turn to too many of them. You need investment, but you also need to have control of your company. You need to walk a fine line between getting capital and remaining in power.

Accredited investors typically have a net worth of more than $1 million, but they’re still putting their own money in your business. Because they’re dealing with their personal bank accounts, they’ll likely want their investment fits their desires. This can lead to investors trying to push your company in a direction you don’t want.

Your robotics company is your dream. Bringing on too many investors can take that dream away from you. Turn to investors, but not so many that you lose control of your own company.

6. Focusing on Advances Over Profitability

When you do secure investors, don’t let the money go to your head. After investors give you an advance, it can be tempting to start spending more rapidly. Don’t let a few commas in the bank account distract you from making a profitable company.

Robots are expensive machines. You can burn through an advance quickly in this business, so don’t think a big check makes you invincible. Focus on profitability, no matter how much money is coming in.

Large sums of cash are nice, but they’re not what keeps your business alive. Keeping costs low and maximizing profit is how you’ll survive.

7. Not Documenting Everything

When you first start, you may think you can keep track of everything in your head. You’ll quickly find that this isn’t true. You need to document everything that goes on in your business, from profits to losses to failed ventures.

Details that seem small now may matter more later on. You have too much on your plate to be able to remember everything. It also helps to get used to keeping records, so you’re prepared when your company takes off.

As your robotics business grows in size and worth, you’ll need to start documenting everything. Why wait? Start bookkeeping now, even if it means hiring staff to do it.

Start Carefully and Build Slowly

Robotics is a multi-billion dollar industry, so you have a lot of potential for profit. To survive in this business, though, you’ll need to start carefully. Don’t fall for the same mistakes that failed startups in the past have.

If there’s one common thread through all this advice, it’s that building a company takes time. You won’t achieve success overnight, so why shoot for that? If you tread carefully and slowly build your company, your robotics business could be the next big thing.

The American Genius is news, insights, tools, and inspiration for business owners and professionals. AG condenses information on technology, business, social media, startups, economics and more, so you don’t have to.

Tech News

Clubhouse finally made it to Android, but has its time passed?

(TECH NEWS) Social media felt the impact of Clubhouse, but the internet moves fast, and even though it is finally on Android, it’s time may be waning.

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Woman holding book and a phone, with headphones, participating in Clubhouse.

Clubhouse finally got an Android release, and while many people clamored for such a thing months ago, others argue that it’s too little, too late.

If you aren’t familiar with Clubhouse, it’s an audio-only “social platform” that encourages discussions through live chat rooms. Users can drop into various rooms and listen to people talk, request the option to chime in, and follow a variety of rooms (or “topics”) to stay engaged over time. Users can even create their own rooms that feature them as speakers.

Clubhouse also has a certain allure to it in that the app requires new users to put their names on a waitlist that creates an “invite-only” culture of exclusivity.

But while iPhone users have had access to Clubhouse since its inception, Android users have been not-so-patiently waiting for their own release—and, now that Clubhouse for Android is available, it may have outstayed its welcome.

Part of the problem is the launch itself. The Android Clubhouse app launched with limited functionality; Android users weren’t able to follow the topics they like, change their account information, and so on. This made the release feel underwhelming, further highlighting Clubhouse’s affinity for Apple users.

A more complicated problem is the prevalence of audio options in other social media services. Slack, for example, recently released their audio-only rooms, and services such as Twitter, Facebook, and Instagram have placed a spotlight on voice-only mediums of expression.

Initially, Clubhouse was the only app to incorporate audio as a strong central focus, but the ubiquitous fascination with voice-posting has expanded to comprise most major communication platforms. As such, Clubhouse’s sought-after exclusivity is no more—something that was also arguably damaged by expanding to Android.

It should be noted that interest in the app itself is decreasing, and not just on Android. Social Media Today reported that, in March of 2021, Clubhouse downloads were down 72 percent from February’s 9.6 million downloads. The publication also pointed out that difficulty finding rooms was a substantial issue that is unlikely to do anything but worsen with a surge of Android users, necessitating some back-end fixes from the owners.

As it sits, Clubhouse is still very much in use, and Android users are poised to reignite interest as iOS users stagnate. Whether or not that interest will persevere in the current social media ecosystem remains to be seen.

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Tech News

Foster communication from the search bar with Google business messaging

(TECH NEWS) Google added business messaging options on Google Maps and Google Search to make it easier for businesses and customers to have communication.

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Google search bar open to communication with businesses.

Connecting with and understanding your customers is important in keeping your business thriving. So, to help streamline that communication, Google is adding business messaging options to the Google Maps app and Google Search.

To start using this, your business will first need to be verified by Google. If you haven’t verified your business yet, you can get more information on how to do so here. If you’re already verified, you simply need to turn messaging on from your Business Profile.

Once it’s on, customers will see a “Message” button on your Business Profile, and they will be able to message you at any time. From the business messages section in the “Updates” tab on Google Maps, you can start replying to customers. Also, via the Customers menu on your Business Profile, you’ll soon be able to see your messages straight from Google Search.

Google said, “When people look for information online, they want to find the answers to their questions quickly. This is especially true for people browsing nearby businesses. Business Profiles help merchants share information like how late you’re open and what safety measures are in place. But sometimes people are looking for answers to more niche questions such as: ‘Do you make gluten-free cakes?’ or ‘Is there covered parking?’”

To help make it easier for customers to ask their questions, Google isn’t making customers head back to your Business Profile to click the “Message” button every time they have a question. In addition to that button, customers can initiate a conversation with your business on any post you’ve created. Also, when a customer’s call goes unanswered, they will be prompted to send you a message.

And, besides making communication easier, Google will soon be “rolling out more metrics to give you a deeper understanding of how customers discover your Business Profile.” You’ll be able to see Insights on what queries customers used to find your business. You’ll be able to tell whether they saw your business on Google Maps or Search, and if it was on a computer or mobile device.

“We’ve continued to invest in new ways to make it easier for you to bolster your presence on Google. With these updated features, we hope you have more of the tools and information you need to connect with customers and grow your business in today’s ever-changing environment,“ Google said.

Easing the pain between business and customer is always a plus. What do you think about Google’s new messaging options?

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Tech News

Tired of transcribing screenshots? Put this Chrome extension to work

(TECH NEWS) This new Chrome extension takes out the tedium of transcribing all your necessary screenshots into your writing and does it for you.

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Logo for Docsumo, a transcribing Google Chrome extension

My favorite part of being a writer is getting to interview people from various walks of life. My least favorite part of being a writer is transcribing those interviews.

Slightly easier, but still annoying, is transcribing information from a screenshot, photo file or PDF. Sometimes you have to get this information in a rush and retyping all of it slows you down.

Docsumo is making that process into a breeze. The tool allows for users to grab text from a screenshot for easy copy and paste.

So how does it work? First, it has to be downloaded as a Google Chrome extension. Once it’s part of the browser’s extension, it can be put to work.

A video on Docsumo’s website demonstrates the easy transcribing process. The developer does a Google image search for a shipping label as they need to quickly copy and paste an address. When the necessary label pops up, they click the Docsumo tool that allows them to drag and select the part of the label they want to transcribe (the movement of the mouse is similar to taking a screenshot on a Mac computer).

Then, the text that they’ve highlighted is transcribed into a box where it can be copied and pasted. Simple!

In addition to copy and paste, users can extract, edit, and share data. After that, all of the related information is removed from Docsumo’s server. Examples of when this tool is useful include: Invoices, bank statements, insurance documents, bills, and tax forms.

The tool is made possible through Optimal Character Recognition (OCR) which, according to Ducsumo’s developers, is something that comes in handy in many situations.

“Organizations often receive crucial information and data in image form of documents. These images can be a photo of a document, scanned document, a scene-photo, or subtitle text superimposed on an image. The real challenge for the operation team is to be able to extract information and data from these photos. It can take hours to manually pull out this data and assemble it in a structured way for record-keeping and processing. This process is hugely error-prone too.

OCR technology comes to rescue in this situation.

Optical character recognition or optical character reader (OCR) is the electronic or mechanical conversion of images of typed, handwritten or printed text into machine-encoded text. This technology is suitable for photos of text-heavy documents and printed paper data records such as passports, invoices, bank statements, receipts, business cards, and identity verification documents. OCR technology is the way of digitizing printed texts so that they can be electronically edited, searched, and stored more compactly.”

In a world where pen-to-paper has slowly been fading away, Docsumo is here to give it another push further away.

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