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The Benefits of Bootstrapping: 6 Things You Need to do in Order to Succeed Without Investors – ReadWrite

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Blake Johnson


Have you ever seen the show Shark Tank? If you haven’t, it is a reality show that features various inventors and business owners pitching their businesses to a panel of entrepreneurs (sharks). The goal is to strike a deal that exchanges entrepreneurial funding for a percentage of the business.

Shark Tank is immensely popular, and when a plucky business owner strikes a deal with one of the sharks, the music swells and the audience is led to believe that this is the beginning of their success.

It makes me cringe.

I have been working as an entrepreneur in Los Angeles for more than twenty years. I have founded and sold a variety of businesses, and the companies I have developed currently exceeds $1.1 billion in valuations.

I have been fortunate to enjoy tremendous success, and in my experience, it is always better to grow a company without the interference of investors. Investment is not the way to launch your company into the stratosphere, despite what most people believe.

Once you accept funds from an investor, you are beholden to them.

Their ideas, desires, and financial considerations cannot be ignored. The moment you accept external funds, you relinquish control of your business. I firmly believe that start-ups will soon have more options for funding, but at the moment, I encourage entrepreneurs to chase success without the support of investors.

After all, bootstrapping is the American way. We need to stop seeing investment as the finish line and start seeing it as an albatross. If more people found ways to keep their start-ups independent, the creative minds that are responsible for these startups could retain control.

I have been starting and running businesses without investment for years, and I have developed a few key practices that have allowed me to avoid outside funding. Here are the six tips every business owner and entrepreneur needs to do in order to achieve success without external investment.

In recent years, businesses operating in the red have become trendy. Amazon famously spent more than they made for over a decade, but companies like Amazon are the exception, not the rule.

I see a lot of business owners overspend on office spaces, branding, marketing stunts, and corporate perks when they should be focused on creating a product or service that people will pay money for. Investor money tends to lull business owners into a false sense of security.

They think: Well I have all of this money, why not go on a golf weekend with my executives to inspire them? Instead, business owners should be using profits to inspire their executive team, not perks.

I see the generation of revenue as the turning point of a business.

Before your company actually starts making money, it is nothing but a foundation. Too many people get stuck on the foundation phase and forget to focus on the build of the actual house. They spend hundreds of thousands on a gorgeous website, rent a luxurious office space, and launch expensive marketing campaigns before ever selling a thing.

As a business owner, you are responsible for setting a profit-first culture. Get your executive leadership aligned on profit goals early, and reinforce them often. Remember that a company does not need a huge trade show installation, catered lunches, or celebrity endorsements to succeed.

All of those things can certainly help to grow a business, but the first stages of any company should consist of a strict strategy that focuses on bringing in more money than is spent.

If you are worried about this attitude creating dejection among your team, don’t be.

People respond to the culture you set up for them. Instead of handing your team perks before they deliver results, offer them perks as a reward for results. Instead of treating your team to lunch every Friday, only treat them to lunch when revenue goals have been met.

So many business owners have this backward. Prioritizing profits is the only way to achieve financial success without relying on external investors.

When most people think of business owners and entrepreneurs, they think of the fun and flashy side of things. They picture Richard Branson and other rockstar entrepreneurs enjoying the spoils of their good ideas and creative leadership.

The reality is that any given snapshot of a business owner’s life should see them pouring over spreadsheets, tracking every single dollar that their company spends.

This tip goes hand-in-hand with the first one on this list. Without a complete understanding of every expense your business is subject to, prioritizing profits becomes difficult if not impossible. Knowing your budget is absolutely vital. If you do not know how much you are spending, you cannot know how much you are making.

Nothing makes me crazier than when I see a budget presentation from a business owner who cannot speak to their entire spend. I like to ask these people things like: How much money does your company spend on coffee on a monthly basis? And What kind of per diem do you offer to employees who travel? How much travel do your employees do in any given month?

If they cannot tell me off the top of their heads what their current spend is, then I know that they do not fully understand their budget, and therefore cannot give me a confident answer about their profits.

Watch your dollars like a hawk!

If you want to grow a business without the interference of investors, then you need to watch your dollars like a hawk. When there is no stream of incoming investor money, it means that you are fully responsible for making and managing your own funds, and both your customers and your employees are relying on you to do it right.

There is no one to call for a bailout. You are the last line before bankruptcy, and you need to take that responsibility seriously.

Success is a game of inches. It does not happen overnight. You can obsess about your budget and prioritize profits all you want, but it is equally important to understand that money will not magically start rolling in. At the beginning of any business, the wins are small.

The goal should be to develop a steady stream of small wins that swell and grow into a massive over-all win. Every dollar of revenue, every sale, and every customer conversion should be celebrated since it contributes to a larger whole.

I said earlier that business owners set up a culture of profit prioritization. Similarly, they set up a culture of celebrating any and all wins so long as each win is understood to be in service of their profit prioritization.

Think of it this way, success on day one may be one customer conversion. Success on day 365 might be 200 customer conversions, but does that make a single customer conversion any less important? It does not, since your success on day 365 is actually made up of 200 small wins.

Incremental improvement is what success is.

It does not look the way most people expect it to since it happens gradually and over time. This fundamental misunderstanding of business success is why so many contestants on Shark Tank are thrilled when they get their investment. They think that a big sum of money equals success when in reality true and independent success happens gradually.

As a business owner, if you take a moment to celebrate each achievement as it comes in and reward your workforce for contributing to your bottom line, eventually your entire business will be a success.

Hard work is absolutely necessary for starting and running a successful business, but unnecessary work can mean the death of a small business.

When I was 13 years old I found work on a cattle farm at the California/Mexican border. It was grueling, dirty work (often in 115-degree heat), and I went home every day absolutely exhausted. One day, my boss approached me about a special project. He asked who I would like to select to help me. I chose the man who was the hardest working and most eager to help out. He never shied away from a task, and always did what was asked of him without complaint.

Shockingly, my boss told me that he believed the hard-working man to be the wrong choice, and gestured to a man who was literally sleeping in the dirt. He explained to me that lazy men were often creative thinkers, and pointed out several homespun inventions and pulley systems around the farm that made our job easier every day.

Up until that moment, I did not realize that the lazy man was actually responsible for these inventions. In his desire to avoid hard work, he had come up with creative solutions that made life easier for all of us.

Man hours are one of your most expensive resources.

That lesson has stuck with me ever since, and I have applied it to every company have I founded and run. Man hours are one of your most expensive resources. Do not waste time doing things manually when they can be automated. Always ask yourself and your team: Is there an easier way to do this? And always, always, always, choose the easier way. As a result, your team will be more efficient, your expenses will be lower, and everyone will come to work happy.

So many successful people claim that they have a “knack” for recognizing a good business opportunity, but the truth is that intuition is nothing more than years of experience at work.

When you are starting a business, you absolutely should not “go with your gut” because your perspective is limited. With every business I have ever started, I have built an airtight model that was designed to generate revenue, and I have lived and died by that model.

Throughout the course of business, people will come up with fun and flashy ideas. They will case study themselves and think: Well if I was the customer, this is what I would want to see. But the thing is, if an idea doesn’t fit the model, it simply is not worth exploring.

Don’t make guesses about your customers.

It is vital to put time and effort into understanding your consumer, build your strategy around that, and then put every new idea through that lens. Do not try to make guesses about what people may like or respond to. Perform tests, lean on what has already been successful, and never let someone’s intuition be the reason behind a major decision.

  • Foster Strong Relationships

The people you choose to surround yourself with have a massive influence on your life. Your friends, spouse, and business partners will all impact the way you think, the way you make decisions, and how you feel about yourself. It is supremely important to be discerning about who you let have your ear.

By extension, who you choose to form relationships with is incredibly important to success. Hard work is not enough. Knowing the right person can open doors that you didn’t even know were there.

I have found business partners, incredible team members, and tremendous exit opportunities through networking. I am ruthless about keeping my network tight and about only allowing in people with a positive influence, and in that way, I have fostered some fantastic and incredibly beneficial relationships.

Who do you know? Who knows you?

Hard work is only part of the equation. The other part is who you know and who knows you. If you only ever work with your head down, doors of opportunity will always remain closed.

When in Doubt, Don’t Take the Money

An investor flashing a check is incredibly appealing, but remember that all money comes with strings attached. It is possible to found and manage a successful business without venture capitalist funds. I have done it.

The sharks on Shark Tank are referred to that way for a reason. They are not your friends. They will keep you lean, hungry, and constantly chasing their goals instead of your own.

Before you find yourself on ABC celebrating a new burden disguised as an opportunity — try these six tactics and see if you can’t do it by yourself. You may be surprised by what you can accomplish.

Image Credit: karolina grabows; pexels

Blake Johnson

Blake Johnson is a Los Angeles based entrepreneur who has successfully founded and sold a variety of businesses. Most recently, he serves as the founded and chairman of Byte, a direct-to-consumer dental aligner company with business partner Scott Cohen. Previously, Blake served as both the Chairman and Founder of Currency Capital and IM Capital Access. Both companies were named on the Los Angeles Business Journal’s Best Places to Work. The business Blake has started currently exceed $1.1 billion in valuations. Blake also participates in philanthropic endeavors and is a significant benefactor of Big Brothers Big Sisters, the Boy Scouts of America (achieving Eagle Scout status in his youth), the International Justice Mission, and MOCA Los Angeles.

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10 Blockchain Speakers Who Make It Easy to Understand

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Joel Comm; Blockchain Speakers


The blockchain and Bitcoin. Decentralized finance and smart contracts. Non-fungible tokens and play-to-earn gaming. The new world of Web 3 is a lot of things — but simple isn’t one of them. A few speakers manage to turn the complexity of the blockchain into concepts that are easy to understand and quick to grasp.

These men and women take questions from the audience — and have a coherent and logical explanation for anyone who knows enough to frame a good question. If you are creating an event and you want a great keynote speaker — whether in person or virtual — choose from this list.

Blockchain, Bitcoin, Decentralized Finance, Smart Contract, Non-Fungible Tokens, Play-to-Earn Gaming — Think of the Possibilities

When I study, listen, attend conferences, and get lists like this one ready — it’s a difficult process (no doubt, those of you in this business can relate).

I have listened to most of these individuals speak and usually put Joel Comm at the top of my lists because he’s so dang funny — although these speakers are listed here in no particular order.

Joel Comm
  1. Joel Comm (@joelcomm)

Joel Comm reached the blockchain world after selling a games company to Yahoo!, revealing the secrets of Google’s AdSense system, and explaining how to market on Twitter as soon as the “microblogging” platform was launched. With Travis Wright, he presents both The Bad Crypto Podcast and The Nifty Show, two podcasts that interview blockchain leaders and entrepreneurs, explaining their activities to a non-technical audience.

Igor Pejic; Blockchain Speakers
Igor Pejic
  1. Igor Pejic (@IgorPejic9)

Igor Pejic is the author of Blockchain Babel. He’s the former head of marketing at BNP Paribas Personal Finance Austria and a teacher at the University of Vienna. His experience in both the finance industry and in education has enabled him to translate blockchain technology’s jargon into understandable language and to explain why it matters. He’s seen how finance is responding to the rise of digital currencies and distributed networks, and he can explain it.

Andre De Castro
Andre De Castro
  1. Andre de Castro (@AndreTechExec)

Andre de Castro is a software engineer and a Bitcoin pioneer. He works with Fortune 500 clients, helping them to understand and prepare for the development of cryptocurrencies. He also contributed to a 2014 administrative ruling that enabled corporations and startups to trade cryptocurrencies in the US. He is an expert on the opportunities available in the blockchain world and, in particular, the possibility of earning through arbitrage across different trading platforms.

Anne Lise Kjaer
Anne Lise Kjaer
  1. Anne Lise Kjaer (@kjaerglobal)

Anne Lise Kjaer is an expert on trends. She’s the author of The Trend Management Toolkit and has talked to companies, including IKEA and Swarovski, about changing consumer fashions. The trends she’s discussed have included health tech and digitalization, but she also talks about fintech, how it’s changing, and what effect those changes will have on consumers and the companies that serve them.

Professor Lisa Short
Professor Lisa Short
  1. Lisa Short (@lisagshort)

Professor Lisa Short’s emphasis is on education. She’s the founder of Mind Shifting and the Frontier TechED Accelerator uses education to bring together small and medium-sized businesses and cutting-edge technologies. Lisa Short is also the director of Learning and Ecosystems for the United Africa Blockchain Association, which delivers blockchain and artificial intelligence education across Africa.

John Biggs
John Biggs
  1. John Biggs (@johnbiggs)

John Biggs is a journalist. Biggs has been an editor-at-large for TechCrunch.com and has written for publications including Wired, the New York Times, Linux Journal, and Popular Science. He is now news editor at CoinDesk, the world’s leading source of blockchain news, and has written books about blogging and online scams. He was also the CEO of fintech startup Freemit.com, adding real-world experience to his research and writing.

Sam Wouters
Sam Wouters
  1. Sam Wouters (@SDWouters)

Sam Wouters is a consultant at Duval Union Consulting, a consultancy firm, and is a co-author of the Digital Transformation Book, a guide to bringing digital workflows to large companies. He now focuses on Bitcoin and the blockchain, helping companies to understand how the technology works and what they can do with it.

Laura Shin
Laura Shin
  1. Laura Shin (@laurashin)

Laura Shin is the host of Unchained, one of the Web’s leading blockchain podcasts. She was senior editor at Forbes and the first mainstream journalist to take crypto as her full-time beat. She is also the author of the recent investigation of crypto’s early days: The Cryptopians: Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze. Her talks focus on the blockchain’s effects on ownership, online organization, and earning potential.

Tony Scott
Tony Scott
  1. Tony Scott (@tonyscottcio)

Tony Scott was President Barack Obama’s Chief Information Officer. He launched a 30-day Cybersecurity Sprint and directed the government’s cyber defense efforts. He also managed the net neutrality policy and oversaw the privacy issues that emerged from Apple’s suit against the FBI. He now runs the TonyScottGroup, where he gives enterprise-sized firms strategies to cope with and make the most of changing IT infrastructure and new technologies.

Elias Ahonen
Elias Ahonen
  1. Elias Ahonen (@eahonen)

Elias Ahonen’s 2016 book, Physical Bitcoins and Crypto-Currencies, was one of the first histories of digital currency. He is also the author of Blockland, a collection of stories about Bitcoin, blockchain, and cryptocurrency. He’s been active in the blockchain space since 2012 and runs a blockchain consulting company called Token Valley.

Here are a few articles for your reading pleasure and information — about these topics.

Blockchain, Bitcoin, Decentralized Finance, Smart Contract, Non-Fungible Tokens, Play-to-Earn Gaming

Most of these images were taken from the Speakers Linkedin Profiles; Thank you!

Featured Image Credit: Photo by Pressmaster; Pexels; Thank you!

Deanna Ritchie

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.



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How to Efficiently Onboard and Train Your New Hires

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Calendar


Quality employee onboarding is one of the most important things you can do for your business. You want your new hires to feel welcome and wanted as soon as they walk in. You need to give them an excellent first impression of your business and show that they matter. For many new employees, it’s essential to feel that there is a well-defined role and a clear career path.

Not only that, but a good onboarding process can make a massive difference to your retention rates and your revenue. Onboarding can also improve employee productivity and morale. And you save time and money when you don’t have to keep replacing employees.

Great onboarding starts with excellent planning. You really can’t wing it when it comes to training your new hires. Having planned training and processes for dealing with new employees is important.

Before hiring any new employees, plan out what they need to know and how you deliver it. This will also make it easier for you. For example, you’re not having to scramble to find something for them to do while trying to balance your own work.

You could also create an onboarding checklist for you and one for your new hires. This allows you to quickly know what to teach next and see clear progress and tick off what they’ve learned. It’s motivating for both parties. Even better if you have training software that allows for gamification. New hires can tick off modules as they finish them, see what’s next, achieve rewards, and more.

Once you have your onboarding training prepared, you can then use your calendar to plan it out and ensure success.

1. Set up a dedicated onboarding calendar

Many calendar apps will allow you to set up multiple calendars. So, for example, you can set up a calendar just for onboarding training, showing the full schedule.

This allows you and your new hires to look at your full calendar view with all your tasks and appointments and to look at just the training schedule on its own calendar when you need to.

It’s helpful to have both views. With the main calendar view, you can ensure no clashes and time to get to training sessions. And with the onboarding calendar, you clearly know the training and what comes next.

2. Share your calendars

You can coordinate together more efficiently by sharing your calendars. Your new employee will have other items on their calendar in addition to their onboarding training. For example, they may have previously booked medical appointments scheduled or a holiday that was already booked before they got the job. And there’s the work that they need to be involved in.

If you both share your calendars, you can easily be more flexible, if needed, and quickly rearrange sessions if something else comes up. In addition, your new hire will be able to see when you’re free, so they can book time if they need more help.

Encouraging your new employees to start, regularly use, and share their calendars is good practice for the future.

3. Set up your to-do list

Unless your only job is employee onboarding, you will have other work to fill your time. With your time split between onboarding your new hires and your everyday work, staying organized is essential. You can add a task/to-do list and make notes on many calendars to easily keep track.

This helps you balance your work with your onboarding duties. It also gives you a heads up if you’re going to have a busy week that may need extra organization and planning.

Another benefit of adding your to-do list to your calendar is seeing how much you’ve achieved. Ticking off completed tasks gives a nice hit of dopamine and is highly motivating.

4. Use time blocking to ensure you get everything done

When trying to learn something new, it can be easier to spend a solid block of time on it, rather than jump around over several sessions. Time blocking can be helpful to facilitate that.

However, time blocking involves splitting your day and week into blocks for specific tasks. This is a great way to combine your to-do list with your calendar. This can be a beneficial technique for ensuring you can fit in onboarding training and your regular tasks and meetings.

You can choose what works best for you with so many options and techniques. For example, time blocking could be one more helpful tool in your organizing arsenal.

5. Set up reminders

One of the best things about using a calendar and task lists is that you can add reminders to keep yourself on track.

When you are setting up your onboarding calendar, ensure you add in reminders where it’s helpful. This ensures that you don’t miss any meetings or tasks or your trainees.

When you’re busy, it can be easy to miss breaks and lunches. Adding reminders for these can ensure you take a breather when you should. It also provides that you don’t set yourself up for burnout.

6. Integrate with Trello

Some calendars integrate with Trello, a simple but effective project management app.

You can add tasks, checklists, and processes to Trello. It’s helpful to break down more significant tasks into smaller, more manageable tasks. It’s possible to tick them off when you’re done, which can help to motivate you and your trainees.

One other great thing about Trello is that you can set up boards and processes as a template. Then when you need it again, copy the template, rename it, and you’re ready to go.

Integrating this option with your calendar could help you manage your training better. You can also add team members and work on tasks together, aiding your trainees.

7. Bear in mind remote working

So many companies now allow remote working since the pandemic that you need to consider it. In addition, you may be training both in-office workers and remote workers to onboard them.

It’s important that your onboarding training includes your company culture and expectations, but it’s particularly important that remote workers feel part of your company.

Of course, you need to organize your time and calendar to ensure you can onboard everyone, remote or not. In addition to planning tasks and meetings, you’ll need to consider what technology you need, including cameras, Zoom, and more. Then, organize your tech in plenty of time for each meeting for success.

8. Start with a welcome pack

Once you know the start date of your next hire, add a task and a reminder on your calendar. Then send them a welcome email a few days before they start. You could even save time by writing a template for this email if you’re going to need it more than once. Then, you could set it up, keep it, and just hit send on the day.

If they’re based in-house, include practical information your new employee needs to know. Include directions, parking information, and a building map marked by their office or area. Add in where they can find vending machines or a kitchen for snacks and drinks. Include any local shops, such as bakeries or sandwich shops for food.

You’re starting them on the right foot before they’ve even walked through the door. And they will appreciate it.

Don’t forget your remote workers here. They will also appreciate a friendly, welcoming email with helpful information on start times and what to expect.

9. Use your analytics

Many calendars have excellent analytics. Office 365, for example, includes MyAnalytics, which provides information on various tasks and events. For example, you can see how many meetings you’ve had and how you spend your time.

This is helpful because you can see an overview of your onboarding training. You can check if you’re offering balanced training or leaning too heavily toward one subject. You can see whether you have covered everything or if there are any gaps.

Calendar analytics are equally helpful for improving your general productivity. You can ensure you still have the time to work on your own tasks as well as fit in onboarding.

10. Assess your onboarding regularly

Use your calendar to schedule follow-up meetings with new employees to get feedback on your onboarding processes.

Diarize time every year, at least once, to review your onboarding, look at feedback, and see how you can improve.

With quality onboarding so crucial for every business, it is vital to stay organized and on top of it. The right calendar apps can help you deliver onboarding well and keep improving.

Published First on Calendar. Read Here.

Featured Image Credit: Photo by Kampus Production; Pexels; Thank you!

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What Are Automated Guided Vehicles?

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Deanna Ritchie


Steam engines and conveyor belts are arguably two of the most important inventions of the industrial age. Moving water and coal by machine sparked groundbreaking changes in manufacturing. They allowed businesses to scale their production while saving time and resources. Many believe that automated guided vehicles represent the next logical step.

After all, without these innovations, the world as it is today would be impossible. The ability to move materials with ease contributed powerfully to the industrial revolution.

As time has marched on, more technologies have been invented to improve transportation, thus benefiting the manufacturing process. Many experts believe that the automated guided vehicle is the most noteworthy innovation as of late.

These machines are automatic vehicles with a guidance system that can use a variety of technologies to get from point A to point B without the need for a driver or human supervision. This invention has benefited quite a number of operations when it comes to manufacturing. AGVs can routinely and reliably transport materials from one place to another.

How Automated Guided Vehicles Work

Of course, the future of manufacturing is unknown, but it is constantly seeing upgrades from technological advancements. An automated guided vehicle (AGV) is a robotic solution to many industrial problems. It is a portable robot that moves along marked lines or wires on factory floors. It achieves this by using radio waves, cameras, magnets, or lasers for navigation.

The technologies used by each AGV differ based on design. Technologies such as LIDAR help AGVs in routing, navigation, and traffic management. Cameras help in monitoring obstacles and optimizing the path. Sensors also help in mapping the space and navigation.

Automated guided vehicles run on optimized technologies such as laser-based navigation systems and camera-based navigation systems. Both of these enhance the operation and help with better routing, traffic management, load balancing, and battery management.

These advances help make the systems safer for humans on the factory floor, as AGVs can stop if they sense someone or something is within their set path.

Laser-based navigation systems are one of the most popular types of routing and mapping systems in the industry today. Engineers pair camera-based technology with laser technology as an add-on feature. Cameras can detect the presence of traffic and easily identify obstacles better than lasers.

Camera-mounted automated guided vehicles are also extremely useful when humans are operating the system. It provides a much better view when users take the vehicle for new routines or a manned operation.

Industries Utilizing Automated Guided Vehicles

AI and self-driving cars are predicted to be the future, even in industries such as construction. However, some industries are experiencing success with automated options, and others are still adapting to AGVs. Most companies use automated guided vehicles in industrial applications. They transport heavy materials around large factories or warehouses.

For example, they help factories move raw materials or pellet goods. These are made ready to be shipped or sent off to a warehouse. Techs automate their routes and schedules in a way that they carry out operations a specific number of times within specified time increments.

While industrial applications are most common, other industries use AGVs on a smaller scale. AGVs can be applied to move materials in food processing, automotive assembly plants, and the healthcare industry.

Within hospitals, AGVs are becoming increasingly popular. Technicians program them to move linens, trash, medical waste, and even patient meals. In recent years, the theme park industry has even begun using AGVs for rides.

Benefits of Using Automated Guided Vehicle

The world of production is moving forward. There are so many benefits of incorporating an automated guided vehicle. Here are some of the most notable perks.

1. Time Management

Most notably, automated guided vehicles help cut down on human resources. Otherwise, companies spend additional resources on transporting materials back and forth. This, in turn, reduces the manual errors that occur when lifting large loads.

AGVs also improve time management by automating the routines. A simple memory chip with a navigation system and an automated routine can help the users to save time throughout pickup and transport schedules.

The incorporation of more automated systems has also been shown to save money and add more leisure time for employees. When companies don’t burden employees with simple, repetitive tasks, they can focus on more important agenda items.

AGVs prove to be extremely useful as they can transport items to a certain location without the guidance of humans. Without the need for human guidance, AGVs cut down on human error.

2. Optimizing Transport

Transporting materials through robot-enabled machines helps in automating the transport of materials, withdrawing the need for other machines, forklifts, and techniques for load management. Delegating transport to an AGV can also protect workers.

Injuries from lifting heavy items or operating forklifts incorrectly are some of the most common injuries within the workplace. Having AGVs take on this responsibility could mean avoiding workplace comp claims and potentially losing good employees.

Somewhat ironically, self-driving vehicles become simpler and safer when humans aren’t around. Separating human tasks and automated guided vehicles can optimize the transport process in multiple ways.

3. Efficiency

Incorporating AGVs benefits the overall manufacturing process, as it involves fewer man hours on simple tasks, such as transport, and it diverts them to more useful operations. An automated guided vehicle cuts down on the number of staff hours or labor required to safely handle payload and take it from one point to another. This is easily done once the load is set up on the automated guided vehicle.

Companies know that these machines are sturdy, stable, and more efficient than humans, who can carry less and usually take longer. AGVs make the transportation process both cost and time efficient.

Automated guided vehicles are a simple solution to solve transportation issues, and their application has broadened during the late 20th century. As more industries look to incorporate technology to optimize their processes and improve efficiency, they may take advantage of AGVs.

Looking at how the manufacturing industries have been utilizing this technology for years can help industries that are choosing to incorporate this technology now learn best practices. Knowing what AGVs are and recognizing their benefits can help businesses decide if they’re right for them.

Image Credit: Ready Made; Pexels; Thanks!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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