By: Sarmad Shahbaz
After reading the title, first things that come to your mind will be Entrepreneurship. What is Entrepreneurship?
Let’s start with the fact that Entrepreneurship is one of the strongest building blocks in a country’s economy. There’s no harm if you see that entrepreneurs shape the country’s economy and help to engender the unsurpassed possibilities in the market.
Entrepreneurship is a complex term that’s often defined simply in general as running your own business. But there’s a difference between a “business owner” and an “entrepreneur,” and although one can be both, what distinguishes entrepreneurship is a person’s attitude.
“Entrepreneurship is much broader than the creation of a new business venture,”
Said Bruce Bachenheimer, a clinical professor of management and executive director of the Entrepreneurship Lab at Pace University.
“At its core, it is a mindset – a way of thinking and acting. It is about imagining new ways to solve problems and create value.”
An entrepreneur is an individual who, rather than working as an employee, founds and runs a small business, assuming all the risks and rewards of the venture. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services and business/or procedures.
Coming to the main topic, Engineers running a business? Yes, it is possible. In this vibrant 21st Century’s world, everything is possible. As an engineer, it’s easy for us to say that we’ll get a nice entry level 9-5 job and settle down, but that is not what we really want. We enter engineering colleges with some powerful ambitions of becoming the next Zuckerberg, creating innovative products, and putting a dent in the universe by bringing the next revolution.
But it doesn’t work that way! Engineering is a stress test, taking students through the toughest of exams, and molding them into a formally compliant shape. By the end of college, most of us can’t wait to get a steady career after those four years of extreme hardship. On the other hand, it takes real courage to create a startup and wait 3 years for it to mature and generate some good income. Learning from the motivators all around the world, there are loads of inspirational engineers who became a successful entrepreneur as soon as they cleared their degrees. Some inspirational people like Bill Gates, Elon Musk, Jeff Bezos, and Steve Wozniak etc. can help you in getting the job done.
Top 5 Opportunities for Engineers as an Entrepreneur:
This is one of the most profitable knowledge-based business in the mechanical engineering field. Basically, the machine manufacturing companies highly depend on the designer. Nowadays, you can also use 3d technology instead of creating costly machine models.
Though the machine design procedure is not standard, there are some common steps you can follow. These can be followed as per the requirements wherever and whenever necessary.
This is a very good business for any individual who knows the subject. Apart from domestic clients, you can offer your service to the commercial and industrial clients also. However, you must have a license from the Electricity department.
Computer Assembling Business
Computer assembling also allows the customized PC making service. Because of the high price of the branded computer, many people go for high-configuration assembled computers. You can start the business by importing spare parts of the computer from China or any other country.
For a small business, creating a loyal and niche customer base and creating proper distribution network is important. You can start this business as the home-based operation. As your business grows, you can promote from a retail space. This business can especially help software, computer, and electrical engineers in earning some good money.
Solar System Providing
The solar system is a popular alternative energy solution. Due to the very less recurring cost, the trend of using solar power is growing rapidly. The primary responsibility includes providing design, supplying materials and installing them within your client’s budget.
Electrical and electronics field offer various different types of business opportunities. However, this sector demands adequate knowledge and experience.
E-waste recycling is a global environmental issue in recent phenomena. In our neighbor country, the electronic product waste dangerously increasing volume of obsolete computers, printers, fax machines, TVs, mobiles and other electronic devices. Of the nearly 8 million PCs, 2 million are only for software up gradation is accounted as e-waste.
The most technology owners are from the government, public or private industry sectors and they prefer replacing an old computer with a new one, rather than upgrading it which leads to land up with huge e-waste. The Environmental Protection Agency estimates that only 15-20% of e-waste is recycled, the rest of these electronics go directly into landfills and incinerators.
Although, these are some of the opportunities which can work for you if you are an Engineer there are thousands of other opportunities as well. As it is said,
“If you can’t find a way, make a way.”