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Robotics businesses have profit potential, but you must avoid these pitfalls

(TECHNOLOGY) Regardless of what happens in the world, tech keeps moving forward, including robotics businesses. To ensure success, avoid these…

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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 beyond 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.

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Tech News

Want to save snippets of a Zoom meeting? Listener makes it possible!

(TECHNOLOGY) Listener lets you screenshot or bookmark important sections of live meetings, as well as curate a playlist of snippets, to share or playback.

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Listener for Zoom tool landing page on laptop.

We live in a very computer-mediated world where the bulk of communication is done virtually. Many of us spend a great deal of time – whether for work or pleasure – on video calls connecting with people that we’re unable to meet with in person.

Zoom became the unofficial mascot for the pandemic and has shown no signs of going anywhere. So naturally, people are looking for ways to put this to even more of an advantage – like by creating messaging extensions to utilize in lieu of live meetings.

Now the folks behind Listener are getting in on the action by creating Listener for Zoom.

The new tool allows users to bookmark important moments of Zoom calls in real-time and easily turn long recordings into bite-sized video clips.

As founder Nishith Shah puts it, “Zoom meetings just got more productive!”

Listener allows users to do a myriad of things, including live bookmarking to create short video clips; ability to transcribe your entire meeting; edit video clips by using transcripts instead of struggling with video editing tools; share video highlights with your team; create playlists from video highlights across different Zoom meetings to tell powerful stories; use projects to organize your meetings and playlists.

Founders say that Listener is designed for pretty much anyone who uses Zoom. In early testing, the founders found that it is especially helpful for product managers and UX researchers who do customer interviews.

They also reported that early-stage founders have been using Listener to add powerful customer videos to their investor pitch decks. It is also helpful for recruiters and hiring managers who search transcripts across hundreds of hiring interviews to remember who said what and to pass on important clips to other people in the interview process.

The tool is also beneficial for teams and hiring, as customer success and sales teams create a knowledge base with Listener to train and onboard new employees. They also use it to pass on customer feedback to the product teams.

This could also be great for clipping video elements that are appropriate for social media use.

On January 11, 2022, Listener was awarded #3 Product of the Day on Product Hunt.

Listener for Zoom is free while in Beta. The tool works only with licensed (paid) Zoom accounts.

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Opinion Editorials

Job listings are popping up left and right, so what exactly *is* UX writing?

(EDITORIAL) While UX writing is not technically new, it is seemingly becoming more and more prevalent. The job titles are everywhere, so what is it?

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UX writing

The work of a UX writer is something you come across every day. Whether you’re hailing an Uber or browsing Spotify for that one Drake song, your overall user experience is affected by the words you read at each touchpoint.

A UX writer facilitates a smooth interaction between user and product at each of these touchpoints through carefully chosen words.

Some of the most common touchpoints these writers work on are interface copy, emails, and notifications. It doesn’t sound like the most thrilling stuff, but imagine using your favorite apps without all the thoughtful confirmation messages we take for granted. Take Eat24’s food delivery app, instead of a boring loading visual, users get a witty message like “smoking salmon” or “slurping noodles.”

Eat24’s app has UX writing that works because it’s engaging.

Xfinity’s mobile app provides a pleasant user experience by being intuitive. Shows that are available on your phone are clearly labeled under “Available Out of Home.” I’m bummed that Law & Order: SVU isn’t available, but thanks to thoughtful UX writing at least I knew that sad fact ahead of time.

Regardless of where you find these writer’s work, there are three traits an effective UX writer must-have. Excellent communication skills are a must. The ability to empathize with the user is on almost every job post. But from my own experience working with UX teams, I’d argue for the ability to advocate as the most important skill.

UX writers may have a very specialized mission, but they typically work within a greater user experience design team. In larger companies, some UX writers even work with a smaller team of fellow writers. Decisions aren’t made in isolation. You can be the wittiest writer, with a design decision based on obsessive user research, but if you can’t advocate for those decisions then what’s the point?

I mentioned several soft skills, but that doesn’t mean aspiring UX writers can’t benefit from developing a few specific tech skills. While the field doesn’t require a background in web development, UX writers often collaborate with engineering teams. Learning some basic web development principles such as responsive design can help writers create a better user experience across all devices. In a world of rapid prototyping, I’d also suggest learning a few prototyping apps. Several are free to try and super intuitive.

Now that the UX in front of the writer no longer intimidates you, go check out ADJ, The American Genius’ Facebook Group for Austin digital job seekers and employers. User-centric design isn’t going anywhere and with everyone getting into the automation game, you can expect even more opportunities in UX writing.

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Tech News

How Apple is trying to combat the AirTag backlash (hint – its not working)

(TECHNOLOGY) Apple’s weak-kneed attempts at fixing their AirTags issues aren’t working. They can be placed on anything (or anyone), and it is detrimental.

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Apple airtag being held between two fingers.

A few weeks ago, I wrote up an article on how the Apple AirTag can be used to stalk and track people, and now it’s happening. Unfortunately, not all stalkers have the same glamour as Joe from the hit series You.

Engadget reported that model, Brooks Nader, says someone used an AirTag to track her. Per her account, she didn’t receive the notification until she was walking home, alone, at night. If that’s not scary enough, now imagine she was an android user. The only way for her to know someone was tracking her would be if she had installed the Tracker Detect app.

As stated by TechCrunch, “Apple has made its own post-launch efforts to tighten up how AirTags that don’t belong to a certain user can be detected, but these notifications have proven buggy and have often waited far too long to alert users. Add in the fact that Apple has seemed to treat Android integration as an afterthought, not a necessary partnership in order to ship a device like this, and Apple’s incompetence looks a bit more severe.”

The app itself, which was released on December 11, 2021, is getting a lot of negative feedback. One issue is that to see if you’re being tracked you have to manually scan to find the AirTag. How often and when you do that is up to the user. Whereas with the Apple Find My app, it alerts you automatically without the user having to scan anything. It’s not perfect, however. It’s buggy and can take hours to notify the user that an AirTag is tracking them. However, it’s still better than the android app.

Another dreadful scenario that hasn’t been factored in this equation is children. Not all kids have devices, much less Apple devices, nor should they necessarily, but if someone was going to track them, they would be easy targets.

Apple, for the love of all that’s decent, pull AirTags and reconsider how they function. Examine the ways an AirTag could be used without using the mesh network of all iPhone users so that it doesn’t continue to emit a location or, I don’t know, give up. If it doesn’t mean anything to you to risk other’s lives with this product then consider the possible dangerous consequences as a reflection on Apple.

Contrary to popular belief, not all publicity is good publicity.

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