Robotics startups are growing exponentially as more and more industries transition to operating procedures that make room for automation. If creating a new robotics startup is in your future, here are seven pitfalls that you should avoid to ensure that your new company can grow and thrive along with the rest of the industry.
1. Hiring Inexperienced People
It’s necessary to build your startup from the ground up with new employees, but that doesn’t mean that you need to hire anyone who doesn’t have robotics experience. Providing opportunities for employees to learn is great, but not if you’re going to be spending a ton of time and money training them — money you may not have as a startup. Inexperienced employees may cost less to hire, but they’ll cost you more in the long run.
2. Trying to be a Corporation
Corporations are successful — they wouldn’t be as large as they are otherwise — but they are also woefully slow when it comes to accomplishing anything new. Don’t try to be a corporation when you start. You’ll end up hurting yourself and may even fail to thrive. Your startup is a new and unique entity. Don’t treat it like just another business. Be flexible, be fast, and stop trying to mimic the big corporations in your field.
3. Trying to Be Clever
Don’t try to be the Doctor when you’re creating a robotic startup — “I’m being extremely clever, and there is no one to stand around looking impressed.” Innovation is one thing, but trying to be extremely clever and creating something new and different might come back to bite you in the behind in the long run. Feel free to innovate but don’t spend your time and money making something that looks amazing but might not be what the market is looking for right now. Create a new type of pneumatic robotic arm that is capable of exquisite detail work or an automated system that can harvest delicate crops. Just make sure you’re tapping into the current needs of the industry.
4. Selling a Robot Instead of a Service
This might seem counterintuitive, but hear us out. When you’re starting a robotics company, you may be designing robots, but you’re not selling robots. Instead, you’re selling robots that perform a service. A client isn’t going to come to you just to buy a robot — they come seeking a robot that fills a specific need. Don’t focus on the robot itself — concentrate on the service it provides to your customers.
5. Ignoring Your Ecosystem
They say that no man is an island, and the same thing applies to robotics startups. It’s okay to be competitive, but you can’t afford to ignore your ecosystem — the other startups that are competing for the same clients you are. Take the time to get to know them, find out if they’re willing to share any information or send clients your way that they aren’t able to help. The possibilities are endless, but you have to be ready to open your door first.
6. Focusing on Media Fame
Having a robust online and social media presence is beneficial for nearly every modern company, but spending money chasing media fame is likely to end in a loss. You can’t force your social media to go viral, no matter how much money you spend on it. Don’t chase media fame. Create a good product and market it intellegently and media fame will come to you.
7. Trying to Do Too Much
Creating robotics startup companies is a monumental endeavor. It’s easy to spread yourself too thin trying to do everything yourself. Don’t stretch yourself too far trying to do everything on your own. Delegate — you hired those employees for a reason.
This is the perfect time to create a new robotics startup because the industry is growing exponentially. Avoiding these pitfalls can help your business grow and thrive in the coming year.