Aspects Engineer Entrepreneurs Must Remember


Majority of the entrepreneurial minds that are observed in the worldwide market comprise of engineers employing their skills-set. It is essential that with the current scenario of employment in the country, it has become essential that the list of engineering colleges across the country must encourage students to opt for setting up their business.
Engineers often opt for entrepreneurship over jobs at some organization. They are the creators of numerous employment opportunities for individuals.

There are certain aspects and factors that every engineer opting for establishing their own business must have in their conception which includes such as:

  • Intel regarding market: The most important factor that every engineer must keep track about is the market analysis to discover various aspects regarding their target, product, a segment of consumers, issues, concerns and recommended changes accordingly in the product created. These factors assist the entrepreneurs to establish a foothold in their opted sector of business.
  • Knowledge about the product: Another important aspect is the knowledge about the product that the entrepreneurs are introducing in the market. A great many deals have to be done in order to create a new product that assures the consumer regarding its quality, assurance of durability, better aspects offered, etc. A thorough market analysis should be done regarding the product and its demand as well as a margin for profit and loss.
  • Quality assessment and analysis: Quality of any product is the major factor upon which it can be determined whether the product will survive in the market or not. With numerous organizations working towards the aim of creating a better product it is essential that whatever aspects that are being offered are advanced and better than the ones offered by the competitors.
  • Visionary thinking: A vision towards the further goal is the primary factor that every entrepreneurial mind must stagger upon before they establish their business. About their further expansions, the time period they might survive in the market, competitors, and building of links and further tie-ups are some of the factors that every engineering entrepreneur must keep a certain track about. Any entrepreneur must keep strategically thinking for business expansion that would assist them in their business or organization development.
  • Tolerance to uncertainty: Being in business means having ups and downs most certainly, thus an entrepreneur must be ready to face certain situations and tackle the issues they face to survive in the business arcade.
  • Risk taking ability: Any entrepreneur must be ready to take certain risks regarding their business, as though only they would be able to discover their further advancements and developments in their career. Any entrepreneur must sharpen their wisdom in business by taking risks and jeopardies. 

Comments

Post a Comment

Popular posts from this blog

AVEVA Center of Excellence Established at YCCE

Image
Department Established AVEVA Center of Excellence in collaboration with AVEVA Information Technology India Pvt. Ltd., Mumbai at Mechanical Engineering Department, YCCE Nagpur. Plant design software training programs is the prominent feature. AVEVA contributed by providing software costing about 5 Cr. and YCCE provided the required hardware and infrastructure. Yeshwantrao Chavan College ofEngineering , Nagpur is developed AVEVA Center of Excellence in collaboration with AVEVA Information Technology India Pvt. Ltd., Mumbai at Mechanical Engineering Department, YCCE Nagpur. Plant design software training programs is the prominent feature. AVEVA contributed by providing software costing about 5 Cr. and YCCE provided the required hardware and infrastructure. Following software are provided by AVEVA AVEVA PDMS(Plant Design and Management System) AVEVA P&ID (Process and Instrumentation Design) Key Skill Gains & potential Roles : •       Preparation of 3D modell
Read more

Merits Of Pursuing A Career In Engineering

Engineering is one of the most opted professional degree education, has observed a tremendous upsurge in the number of applicants. The list of engineering colleges with prominent rankings and best facilities, qualities is constantly increasing. The fundamental reason behind such a massive upsurge in the establishment in a number of institutions is an increase in the number of applicants. Here are some of the primary reasons to pursue a career in engineering: Freedom for enhancing creativity Engineers are the creators and crafters that implement their skills and knowledge for the creation of current and advanced methodologies. Through the insights and practical knowledge gained, the engineers discover essential solutions to the issues and problems arising at the work-front. Creativity and innovation are the two separate sides of the same coin, with the implementation of creative knowledge for the discovery of innovative solutions. Job security With the development of tec
Read more

Qualities that recruiters look for in engineers

Image
There are endless combinations of qualities can be designed according to various job profiles. Every industry demands separate skills to get the best performance & and output from their employees. And for this research, the companies set a separate placement & recruitment department to choose the best talent among thousands or lacks applicants. The recruitment cell is composed of different types of personals who are experts in their profession and has the ability to judge the people rightly. HR, Manager & technical experts are the main components consist in hiring department. The field of engineering has multiple sub-disciplines which have their own requirements. Instead of the expertise in a field, there are some common qualities that recruiters look for in engineers to hire. Especially for the fresher, this is the most important phase of their life to have a successful and fruitful career ahead. Here is the list of some qualities that recruiters want to see in an enginee
Read more