If you’re looking to adopt a robot in your workplace, there are a lot of things you need to consider first. While robots boast tons of benefits, there’s also the potential for a large negative. If you can’t really afford the robot, that negative is some serious debt that you may not be able to climb back out from underneath. Robots are amazing, but only if you can actually afford them.
Can your small business afford a robot?
1. How Much Are You Spending on Labor?
Some small businesses opt to purchase a robot that will act as an employee. Over time, the idea is that robots will reduce labor costs. They can also reduce costs on things like health insurance, sick days, vacation time, and compensation for workplace accidents or injuries. When you consider the savings, it almost seems foolish not to get a robot.
If you have nest egg or some type of reserve specifically for labor, you’re going to have to forego hiring or phase a few people out in order to smoothly transition into automating a set of job duties with a robot. It’s logistically complicated as well as financially complicated, and you need to review the books to ascertain that you’re in the right position.
2. What Are Your Other Goals?
What’s more important right now? Do you want your business to be larger? Do you want to open a second location? Do you want to expand your range of products or services? A robot can help you do that, but a robot can’t do it by itself. You’re going to need to set the proper stage for whatever goal you’re attempting to achieve before you bring in a robot. If you spend all of your goal budget on a robot, you won’t have any capital left to approach the goal from all angles. Set yourself up for a productive future first.
3. What Other Costs Will You Encounter as a Result of Getting a Robot?
Robots are expensive at their initial investment. They also need to be maintained, and they need someone to operate them. Some robots can be fully automated, but others have special needs. A handful of modest robots that aren’t exceptionally complicated can probably be maintained by a single individual, but this is someone else you’ll need to hire or train to do the job. For this reason, it’s better to wait to purchase a robot or multiple robots when you can safely, comfortably afford the large investment. You’ll save in the long run, but you don’t want to be broke in the meantime.
4. Do You Have Any Additional Income Streams You Can Use?
You might not be able to afford a robot directly out of your profits. If that’s the case, look for additional income streams you can use to fund the venture. You can worth with investors or traders who are interested in your business, and ask them to fund a robot. It should be relatively easy to explain the value a robot will bring to your business.
If you can’t find someone else to fund your robot, you can trade or invest with a small portion of your profits in order to help your funding grow. This might take a little longer, but it’s far wiser than spending money you don’t necessarily have as a liquid asset. If you aren’t making enough money to invest, you always have the option of a very slight price increase that can be put directly towards investments. Even if it seems insignificant, it will amount to a substantial amount over time.
5. Is a Robot Worth The Money?
What purpose is a robot going to serve in your small business? Make sure you’re not looking into robots to replace humans in contexts where humans are absolutely necessary. Robots that automate monotonous tasks, improve quality and consistency of production, reduce margin for error, and make the workplace safer are typically wise investments. Robots just for the sake of having robots won’t help you grow or advance yourself. If you have a lot of extra money to spend, purchasing a robot that boasts limited advantages may not be that big of a deal. When you’re strapped for cash, it’s best to stick to robots that provide a clear return on your investment.
Timing, budget, and need are coequal factors in determining whether or not it’s the right time for a robot. If it’s not the right choice to make tomorrow, that doesn’t mean it won’t be the perfect decision next month. Start planning now, and implement it when you feel it’s financially safe.
Grab CEO: “We’re targetting another $2 billion funding this year”😶
Southeast Asia’s biggest ride-hailing firm “GRAB” said, just weeks after it announced funding of over $4.5 billion in the largest private financing round in the region ever that it expects to raise another $2 billion from strategic investors this year.
They were expecting to raise a total of $6.5 billion capital this year,”. The funding was going to be a combination of equity plus debt all in a bid to quickly expand their business lines in financial services and food delivery.
Grab is also looking to make at least six investments or acquisitions this year, said Tan, adding that the Singapore-headquartered company had no need for a stock market listing.
Grab’s massive financing round started shortly after it bought Uber’s Southeast Asian operations in March 2018 and, in return, Uber acquired a 27.5 percent stake in Grab’s business.
Jeff Bezos keeps Amazon voting power in divorce settlement
Amazon.com Inc Chief Executive Officer Jeff Bezos will retain voting control of his entire $143 billion stake in the company under a divorce settlement with his wife, MacKenzie Bezos, who will own 25 percent of those shares, the couple said on Thursday, removing uncertainty over control of the online retailer.
The world’s richest couple had announced their impending divorce in a joint Twitter statement in January, causing some to worry that Jeff Bezos could wind up with less Amazon voting power or that he or MacKenzie would liquidate large positions.
“It takes the issue off the table, with less turbulence than you might have expected,” said an investor, whose company owns several million dollars worth of Amazon shares but who asked for anonymity because of a firm policy.
MacKenzie Bezos will wind up with a stake in Amazon that is worth roughly $36 billion. Her shares represent a 4 percent stake in Amazon, according to a regulatory filing by the company. The Amazon shares will make her the world’s third-richest woman while Jeff Bezos will remain the world’s richest person, according to Forbes.
The couple, who tweeted separately on Thursday, disclosed that under their settlement MacKenzie will give up her interests in the Washington Post, which Jeff Bezos bought in 2013 and which has been a frequent target of criticism from U.S. President Donald Trump, and the rocket company Blue Origin he founded in 2000.
“Grateful to have finished the process of dissolving my marriage with Jeff,” MacKenzie Bezos said in her tweet outlining the agreement, the first and only post from an account created this month.
The two did not provide any further financial details about the settlement.
“INFLUENCE WOULD BE THE SAME”
Amazon, the world’s biggest online retailer, said in the filing that 4 percent of its outstanding shares would be registered in MacKenzie Bezos’ name after court approval of the divorce, which is expected to occur in about 90 days.
The petition for divorce was filed in Washington state, a person familiar with the matter said.
Jeff Bezos, whom Amazon listed in its most recent proxy statement as its single largest shareholder with a 16.3 percent stake, will keep sole voting authority over the shares unless MacKenzie donates them to a nonprofit or sells them in the open market.
Jeff Bezos, 55, is seen as essential to Amazon’s meteoric growth and stock price rise since he founded the company as an online bookseller in 1994. He has credited MacKenzie, 48, for her support when he uprooted the young couple to Seattle from New York to launch Amazon.
“When I think about Amazon, and the influence Bezos has on Amazon, I would argue his influence would be the same if he had 51 percent shares outstanding or 1 percent. I think his influence is dictated by his vision for Amazon,” D.A. Davidson analyst Tom Forte said.
MacKenzie Bezos’ stake in Amazon is worth more than the market values of nearly 70 percent of the components of the S&P 500.
The settlement suggests that Amazon will be spared the kind of boardroom battle that has plagued other companies whose owners are dealing with family rifts, even though the divorce had jolted the once-private Bezos couple into the public spotlight.
Jeff Bezos re-tweeted MacKenzie’s statement and added in a separate post that he was grateful “for her support and for her kindness in this process.”
Liat Sadler, a San Francisco matrimonial lawyer, said the settlement should put investors at ease.
“They’ve done a lot of work behind the scenes to make their breakup as amicable as it seems,” she said. Still, Sadler added, “Without knowing what cash she received, I have no idea how favorable it was to him or not.”
The day the couple announced their separation on Twitter, the National Enquirer promised to reveal an affair by Jeff Bezos that it claimed had ended their marriage, contrary to the couple’s statement that they were on a “long period of loving exploration and trial separation.”
The U.S. tabloid then published alleged photos and intimate text messages between Bezos and his new partner, former television news anchor Lauren Sanchez.
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