"Invento Robotics" is one of the top 30 most innovative companies of the world in robotics engineering. It has a manpower of only 27 people. It has not taken any loan or investment. Despite all these facts, the company is expanding.    About their business strategies, Bharat Kumar, CTO of Invento Robotics, shared his ideas on how small entrepreneurs and startups can expand their business without making too much investment.  # **Right Team Selection** In a startup, one of the most crucial steps is the selection of the right team. You should hire a '**Maker-Culture**' team that has an attitude of a maker and not a checker. Though it is difficult to get the work done from this team but the deliverables are high. ► The team must be multi-tasking and multi-talented. ► Build a culture of a maker wherein employees should try to solve problems themselves instead of inviting an external expert to save their cost and time. ► You should have more makers in your team than the checkers. ► Give them a real-time-based project for assessing their skills during the interview. ► Retain good manpower by assigning them projects of their interest.  # **Deadline/Timeline Must Come From Customer** Instead of putting your own deadline, you can get it from your client or vendor to inspire your employees to work passionately towards a common deadline.  ► Deadline and Timeline must come from the customer. ► Project-based timeline increases productivity.  ► It creates a compelling exciting story among employees and boosts their efficiency. ► It is also important that a culture of transparency is maintained within the team regarding commitments to the client. | | |---| |**For Example:**<br><br>During the Global Entrepreneurship Summit 2017 held in Hyderabad, Invento Robotics had a deadline to deliver and showcase their humanoids, Mitra and Mitri.<br><br>The deadline was to be met at any cost because it had come from our very own Prime Minister Shri Narendra Modi.<br><br>So, Invento Robotics as a team worked day and night to deliver the humanoids successfully [in 3 weeks](x-apple-data-detectors://1).| # **Diversify Your Source of Earning**  When your products are not selling too much, you can resort to other sources of earning from your product.  In innovation-based startups, you can earn by demonstrating your products at entrepreneurs summits and innovation and technology conclaves.  Invest the money obtained from summits and conclaves in Research and Development (R&D) # **Reduce Cost through Frugal Engineering** ► Initially taking massive outside loan or investment could be risky for your business.  ► You must limit your expenses through frugal engineering.  ► Try to perform maximum work on your own to reduce cost. ► Outsource only those tasks that you are not able to perform with perfection.  ► Make optimum use of machines in all operations to control the wastage of money and resources. # **Make the Technology Your Competitive Advantage** Your unique quality that makes you different from your competitors is your unique technology.  ► Introduce a problem-solving technology that solves the burning problem of the customers. ► This New Technology will become your Competitive advantage over others.  ► Get patent right of that technology to create entry barrier in the market. ► Make it cost effective as compared to your competitors. ► Provide better customer care services to customers.