Engineering is one of the most reliable industries on the planet. We’re always going to need great engineers and the support system around them. It’s human nature to build deeper, higher, and wider. We’ll keep searching for better ways to make things. And we’ll keep taking things apart to see how they work. Engineering is an extension of natural human curiosity. With that in mind, you can safely assume that the industry is future-proof.
Not only that, but it’s incredibly exciting. What a wonderful time to be an engineer. We’re at the cusp of a revolutionary change in automobile engineering. Skyscrapers are now bigger and more ambitious than ever. As inventors, the tech world is booming, with no signs of slowing down. Engineering, in all it’s forms, is in rude health. It’s no wonder that so many are setting up their own businesses, and finding their unique part of it. If that sounds good to you, here’s what you need to know.
Find your niche – Engineering is a term that covers an enormous industry. And the sector itself is propped up by thousands of smaller companies proving a niche service. No-one wants a jack-of-all trades when it comes to engineering. They want highly-skilled experts that are the best in their field. If you’re going to set up an engineering business, you’ve got to be the best at something. What is it? Use your previous skills to tighten and hone your business offering.
Experience and contacts – Engineering is not an industry you simply dive into. Certainly not at the deep end. The sector is highly technical and specific. That means building up years of accurate experience. It requires qualifications and on-the-job training. Remember, this isn’t the tech world. A good idea and a little coding won’t suffice. You need a decade of real experience. Not only that, but you’ll need a variety of good contacts to get started. You’ll need contacts in the supply world like CCTY Bearing and equipment suppliers. Don’t forget about the project manager contacts who will give you your first job too.
Marketing – Most engineers aren’t used to thinking about marketing. But, if you’re going to start a business, you need to put it at the top of your to-do list. The difference between a salaried engineer and running a business is that you’ve got to actively find your next job. You need to get out there and promote your company. It might be through traditional marketing and word-of-mouth. Or perhaps you can harness the digital revolution, and use online marketing to get your business heard.
The business essentials – Don’t forget, your new engineering business is just like any other. It still needs a watertight business plan, and a good grasp of the accounts. It needs investment and a clear monetisation plan. Not only that, but you need to register your company with the tax man, and set up a business structure. You’ll need insurance and liability to cover your back too. Again, these are all aspects that your average engineer isn’t familiar with. Take your time to get it right.
If you’ve reached the end of this post, then congratulations! You’re ready to set up your own engineering company. Good luck with your new venture!