Launching and expanding a startup is an exciting journey but often comes with financial constraints. However, growth doesn't always require significant investments. By employing smart strategies, startups can thrive even on a tight budget. Let’s explore key strategies, using the example of _Invento Robotics_, a highly successful yet lean company, to illustrate how this can be achieved. #### 1. Right Team Selection The foundation of any successful business is its team. When starting small, the efficiency and attitude of your team are crucial. Bharat Kumar, CTO of Invento Robotics, emphasizes the importance of building a **"Maker-Culture"** team—a team of problem solvers, not just problem identifiers. At KEVOS, we understand the value of such a culture, where every team member is motivated to create, innovate, and find solutions independently. By hiring a multi-talented and multi-tasking workforce, startups can reduce reliance on external consultants and cut costs. **Key Actions:** - Recruit employees with a “maker” attitude who can wear multiple hats and solve problems creatively. - Evaluate skills through real-time, project-based assessments. - Assign projects that align with team members' interests to boost retention and engagement. **Example:** At KEVOS, we prioritize a hands-on approach when hiring engineers and designers. Our team is not only proficient in CAD design but also familiar with practical aspects of manufacturing. This blend of skills allows us to streamline workflows, reduce errors, and keep costs low, benefiting both the company and our clients. #### 2. Let the Deadline Come From Your Customer Invento Robotics believes in letting the customer set the timeline, which fosters ownership and commitment within the team. By aligning your team's efforts with client expectations, you create a sense of urgency and purpose, leading to higher productivity and satisfaction. At KEVOS, we adopt this approach by collaborating closely with our clients on project timelines, ensuring that our team is fully engaged in meeting deadlines that matter most to the client. **Key Actions:** - Agree on project timelines with your client to create a compelling narrative that drives motivation. - Promote transparency within the team to ensure accountability. **Example:** During the Global Entrepreneurship Summit in 2017, Invento Robotics had to meet a strict deadline to deliver their humanoid robots, Mitra and Mitri, on time for Prime Minister Modi’s event. The whole team worked tirelessly, driven by the significance of the project and the commitment to the client. At KEVOS, we approach deadlines with a similar mindset, making client-defined goals our team's top priority. #### 3. Diversify Your Sources of Income When product sales alone aren’t enough to sustain growth, diversifying income streams can be a powerful strategy. In the case of _Invento Robotics_, they leveraged their innovations by showcasing their products at summits and technology conclaves, earning money that was reinvested in research and development. At KEVOS, our core services in engineering design and drafting are complemented by consulting and training opportunities. This allows us to reinvest in developing innovative solutions and expanding our technical expertise, without relying heavily on external funding. **Key Actions:** - Find alternative income streams like consultancy, demonstrations, or industry summits. - Reinvest income into research and development to continuously improve your product or service offerings. **Example:** If KEVOS develops a new sustainable engineering solution, we might demonstrate it at industry expos or training workshops, thereby creating an additional income stream. #### 4. Reduce Costs Through Frugal Engineering Frugal engineering is the art of achieving more with fewer resources. Startups must be resourceful, limiting expenditures and relying on in-house capabilities to control costs. Outsourcing should only be used for tasks that require highly specialized skills that the team cannot perform efficiently. At KEVOS, we employ this strategy by keeping most of our design and development work in-house. By optimizing processes and leveraging our team’s diverse talents, we reduce the need for expensive external contractors, saving both time and money for our clients. **Key Actions:** - Limit unnecessary expenses and outsource only when absolutely necessary. - Use automation and technology to reduce waste and improve efficiency. **Example:** When developing our cutting-edge friction stays for windows, KEVOS used frugal engineering principles to design, test, and produce the components in-house, reducing reliance on third-party manufacturers. #### 5. Make Technology Your Competitive Advantage In today's market, technology is often the key differentiator for startups. _Invento Robotics_ leveraged cutting-edge robotics technology to stand out from the competition. Similarly, at KEVOS, we pride ourselves on using state-of-the-art CAD software and innovative design approaches that give us a competitive edge in engineering services. Offering a technology solution that addresses a critical pain point for clients, and then protecting that technology with patents, can create a barrier to entry for competitors. It’s crucial to not only develop these technologies but to make them cost-effective and customer-friendly. **Key Actions:** - Identify a customer problem and create a technological solution to address it. - Protect your technology through patents and make it a barrier for competition. - Continuously improve your tech solutions to stay ahead of the curve. **Example:** KEVOS is focused on delivering precise, cost-effective design solutions to the Australian market. Our custom-built tools for 2D and 3D modeling offer unmatched precision and efficiency, ensuring that our clients receive the highest quality designs, faster and at a competitive price. --- ### Conclusion Startups, especially in sectors like engineering and technology, can expand their business significantly without heavy financial investments. By focusing on the right team, letting customers define timelines, diversifying income, implementing frugal engineering, and leveraging technology, small businesses can not only survive but thrive in competitive markets. At KEVOS, we believe in these principles and work tirelessly to offer innovative engineering design services with a cost-effective and customer-focused approach. By partnering with us, your engineering vision can transform into reality—affordably, efficiently, and sustainably. --- For further consultation or to learn more about KEVOS, visit us at [KEVOS](https://kevos.com/) or get in touch with our team to discuss your next engineering project.