4 Things You Need To Know Before Starting An Engineering Company

4 Things You Need To Know Before Starting An Engineering CompanySource: Flickr

If there’s one thing you can say about the engineering industry, it’s that it is prolific. The term ‘engineering’ encompasses so many vast sectors, and every one of them is thriving. Even when the economy struggles in other sectors, engineering stays strong. Why? Because we will always need new homes, cars, and planes. We’ll always build defence systems, and civil engineering never stops. As the population grows, the demand for engineering grows with it.

It’s a safe and secure industry, with tons of opportunity. Recently, we’re seeing a lot of experienced engineers break out of their comfort zone, and set up their own firms. The industry revolves around small, specialist companies and contractors. There’s a lot of freedom and opportunity involved in the freelance engineering market. If you’ve got the skills and experience, why not follow this path? If it sounds intriguing, keep reading, and we’ll show you everything you need to know.

1. Finding Clients

If you’ve come from an engineering company, you won’t be familiar with the process of finding clients. You typically do the work that is put in front of you. As a business owner, you’ll now have to actively get out there and find clients. The best place to start is your existing contact list. If you’re a veteran of the industry, you should have a phone book full of great engineering contacts. Start by calling them, and letting them know that you’ve set up a new company. Offer them an introductory rate to sweeten the deal.

2. Surround Yourself With Good Contractors

We’ve already mentioned how the engineering world revolves around contractors. Construction and other engineering niches rely on highly specialist knowledge. No-one wants to hire a jack-of-all trades in this industry. They’re looking for experts and skilled workers. That means you’ll need a team of great contractors on speed dial to support your company. Everything from aluminum welding to ball bearing specialists are necessary. Start to build that network of people to rely on.

3. Build A Strong Executive Team

One of the biggest mistakes made in entrepreneurship is going it alone. Even the smartest business owners need people to bounce ideas off. They need insightful, experienced opinions. With that in mind, build a team of experts that will help take things in the right direction. That extra perspective is essential when it comes to taking your business forward. Use your existing contacts and personal relationships to find the right team members.

4. Marketing And Networking

We touched upon this earlier in the article, but your new company needs to actively attract business. As an entrepreneur, it’s up to you to position your company in the market place. You need to reach out to the right people, and build a brand identity. Expert networking and targeted advertising will help here. This may be new territory, even for experienced engineers, so seek help if necessary.

That’s all there is to it, folks! You’re about to embark on a great journey, good luck!