What advantages does an engineer have in starting an online business?

Welcome back to Online Engineer. In my next blog, I will discuss why engineers make a good business leader. Meanwhile in this post, I would like to share the responses and opinions of great business enthusiasts regarding the advantages of an engineer in the business world.

As an engineer, I would definitely agree with their comments. Engineers possess several other qualities that define a good business owner. Engineers are detail-oriented and analytical. While engineers are meticulous, they still take risks, but very calculated ones.

Engineers identify the root cause of a problem and provide an economical solution. Engineers tend to have a very realistic outlook on situations and don’t add the fluff. Engineers keep it simple.

Finally, engineers are tech-savvy and understand how it all works. This provides engineers with a competitive advantage over other industry professionals. Engineers lead by example and this ultimately helps them succeed.

As a practicing mechanical engineer, I understand the limitations that engineers experience today. There are several reasons why engineers tend not to actively pursue online business. One reason is that they don’t actively promote themselves.

Engineers tend to place real value on data and accomplishments, and in order to sell oneself, he or she needs to be able to project those accomplishments in the best possible light. Engineers tend to shy away from self-promotion because they are afraid of embellishment and straying from factual information.

Anyway, please read the responses of business enthusiasts to convince you to pursue ONLINE BUSINESS.

TeejayVanSlyke, Digital Product Consultant

Myriad:

  1. An engineer can go from idea to working prototype without having to first convey his idea through a “game of telephone”. Most of the cost associated with building a digital product is in communicating its specification to an engineer.
  2. Even if the technical founder isn’t actually building the application, they’ll have a clear advantage over a non-technical founder because they’ll understand the terminology and be better suited to make decisions about their infrastructure.
  3. And of course, a technical founder can cut cost dramatically since they’re able to contribute to development themselves.

Given a technical founder and a non-technical founder with equal business acumen, the technical founder will be superior each time.

But it’s important to note that a technical founder with poor business acumen will likely be a worse founder than a non-technical one, because they’ll rely too heavily on technology to grow their business. Customers don’t appear just because you have a polished experience. You’ll need to spend most of your time drumming up business as opposed to building technology.

Gopan Kombiyil, eCommerce Developer, Concept Seller

I am not a racist and I don’t believe in generalizations in this level.

There are smart engineers, they can surely do much more things than others. Especially in design and prototyping of concepts. If you are talking about Computer engineers, they have solid understanding about the principles and that could help them to develop something new. New protocols, new hardware, new scripting language, etc. But this is not applicable to all engineers.

Let’s summarize like this

Some engineers can develop better IT solutions with their deeper understanding of systems. This ability is directly proportional to the knowledge they have acquired as a student.

Bernie Klinder, Started several businesses, helped launch a few others.

In my experience, Engineers are very detailed oriented, pragmatic, and data driven. They are comfortable with the getting into the technical concepts required for an online business, especially analyzing traffic and financial metrics. They also approach things systematically, learn new things quickly, and aren’t afraid to read a book or do research on any topic.

Raw brain power and curiosity go a long way in entrepreneurship (and business). Many well known CEO’s have an engineering background. According to Harvard Business Review, 24 of the top 100 best performing CEO’s have a Bachelors or Masters in Engineering. Some examples:

  • Jack Welch - Chemical Engineering
  • Tim Cook - Industrial Engineering
  • Eric Schmidt - Electrical Engineering and a PhD in Computer Engineering
  • Alan Mulally - Aeronautical and Astronautical engineering
  • Elon Musk - PhD in Applied Physics and Materials Science
  • Sergey Brin - PhD in Computer Science
  • Larry Page - PhD in Computer Science

Where engineers sometimes struggle is in some the “art” of usiness - the stuff that can’t be distilled into a formula or repeatable process: face to face sales, managing people, marketing, etc. Online businesses require a little less of this, and often suit engineers well. When the business scales to the point that you require a full time sales/marketing/social media presence, you’lol likely have enough cash flow to hire someone better suited for the role.

Hope this was helpful.

There you go, these are the insights from successful businessmen. I have started my Online business last August 2016. It's almost a year now since my first blog. Making decent amount of income through blogging is very possible. But let me tell you, if you have no experience in blogging you will surely succeed very slowly. However, my mentor Patric Chan has made a 10-hour video training purposely to help those beginners. You can check it out here (click on the link below):

Discover The 3 Steps to Start A Profitable Online Blogging Business

 

You can plan every element of your business plan in less than an hour with an 11-page questionnaire. You will be able to determine your unique value proposition to understand how to position your business in the market. You will nail down your marketing strategies using 7 key factors of “The Marketing Mix”. You will also create an actionable competitive analysis to understand and win over your competition. You will then finalize your financial plan and ensure lifelong profitability.

Best of luck on your online business, Engineer!

Jomel

Jomel is an Online Engineer who works at home to generate extra income. He is one of your reliable guide to best and effective Business Lifestyle Strategies for Engineers

Philippians 4:13
I can do all this through Christ who gives me strength.

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