At some point in your life, you thought robots were awesome. Whether it was Star Wars, Buck Rogers, or Short Circuit, you saw something rad and said, “Hey, I want to build robots!” In this day and age of robotic startup tech, it’s definitely possible.
However, you need to go about it the right way. You could count the number of failures of robotic companies on both hands and still need more fingers.
So you need to make sure you have the right approach to creating that ideal robotic startup. Otherwise, you’ll be out of business quicker than Skynet at the movies. (We mean the first two Terminator films, mind you.)
What follows now are some quick tips that will help you start a robotic company the right way. Obviously, research goes a long way, as well as actually knowing how to build things. But with the right approach, your robotic startup will soon have a life of its own. (And, hopefully, not in that Skynet sense we mentioned earlier.)
Do talk about your robotic startup…but don’t rush it to market.
It helps to have a handle on what kind of robots you way to build.
Does your robotic startup serve a purpose, like helping the elderly or attaining case files in a crowded storeroom? Does it serve a general goal that can help everyday citizens? It always helps to have a game plan and establish it from there.
Once you do, it never hurts to start to talk to consumers about it, even if it’s in its starting phase. Get those grand ideas out there about how your robotic startup can help them, even if it’ll take some time to make everything complete.
It helps to have statistics on your side, and maybe even a demo that showcases what you have in mind. The more you get people interested in your robotic startup, the more likely you’ll have a key investment to begin production.
That said, you do not want to rush it. If we could count the times that robots have not performed accurately in the world, well, we’d be able to point out hundreds of junk piles.
This is one of those scenarios where you’ll want to have the quality team and the quality parts to put everything together. And take your time with it. Even if you have company deadlines with certain people, they’ll understand that you need to do it right. Otherwise, that Skynet scenario looks more likely than you might expect. (Or they’ll go nuts and fling toilet paper all over the house.)
Embrace practicality over innovation.
Is it cool when robots do awesome things, like backflips and even a little bit of dancing? Sure it is. But just remember, investors are likely to look more for practical use from a robot rather than “Gee whiz, this one can say my name in 45 different languages.”
It’s here that you’ll want to dig deep on exactly what you want to do with your robotic startup. What purpose will you serve? Medical? Crime-fighting? Organizational? You want to get down the fundamentals first, and make sure it can perform those functions properly.
Buckle down and understand what will attract your customers to begin with. You can always add flash later, like a laser lighting thing or perhaps even a fancy hat. (You might be surprised how effective a robot can be with a fancy hat.)
We’ve seen examples in the past where robotic flash is always outdone mainly because it burns out before its purpose becomes revealed.
That’s why you want to be smart with your robotic startup. Build from the ground up, and not the other way around from top to bottom. You can always do something cool later once you know your product inside and out. Make sure it can do the work first.
Don’t forget the legal stuff.
Finally, it helps to run the legal gamut with your robotic startup, as you’ll be able to avoid hurdles later.
Make sure that you apply for the proper tax circles, especially if you get your parts from the right suppliers. For good measure, make sure you can also get the permits and licenses needed not only for sales, but also development.
You’d be surprised how many patents you might need if you’re simply trying to build a cleaning robot.
Sure, a good business idea is everything, but the key words here are making sure you’re still in “good business.” Get the above covered, don’t forget to get good insurance for your factory and your employees alike, and don’t forget the paperwork when it comes to a Legal Entity.
Sounds like a lot of work? That’s because it is.
Building a robotic startup is probably one of the most complicated on the market, especially as it becomes crowded with competition. But with the right idea, know-how, and approach, who knows how far you could take them. Look at what Skynet accomplished! (Well, in a good light, if that’s even possible…)
The post Robotic Startup: How to Build One from Scratch appeared first on KillerStartups.
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May 4, 2022 at 11:58AM by Robert Workman, Khareem Sudlow
