2018-08-09 By Maya Pillai
Setting up your engineering company is never an easy task for any graduate in this field. However, this doesn’t mean that you should give up your dreams of being your own boss. You need to have the talent and passion to be a cut above the rest. You also should also be willing to persist even when your organization is facing financial difficulties. Above all, you need to be a clear idea and plan of what you intend to introduce in the market. Such product should be able to fulfil a shortage in this environment. Only then will people will buy it at a reasonable price.
Peter Zieve – 3 factors you should keep in mind when establishing an engineering company
Peter Zieve is the one of the founders and Chief Executive Officer of Electroimpact, Inc. Experts within the aviation industry consider this organization to be one of the best engineering companies in America. It specializes in the production of various aircraft parts and space exploration equipment. It is the first choice among graduates who want pursue their careers in this field. This corporate organization is also very popular among the local community in Mukilteo for its philanthropic activities. In fact, Dr. Zieve has the distinction of inventing the Low Voltage Electromagnetic Riveter while pursuing his doctorate degree. Today, he is running for public office in this area. He aims to become the elected representative of these people.
He encourages young and ambitious entrepreneurs to establish their own engineering startup concerns. He offers them the following 3 important suggestions to help them achieve their objectives. These are as follows:
- Prepare a realistic business plan
Entrepreneurs need to have a proper business plan. This gives them a roadmap on how them intend to turn their ideas into realistic products which people want to buy. It also highlights the mission and vision of their establishments. They need to keep in mind that potential investors first scrutinize this basic document. Only then do they make up their minds whether it is worthwhile giving them the money they need.
- Establish the right social connection
These young business owners need to establish meet the right people who can help them achieve their objective. They should make it a point to visit popular industrial fairs and business events. Such a move can bring them in contact with individuals of various professional backgrounds. This can open up immense opportunities for them in the long-run. This is fact which they cannot afford to ignore.
- Being aware of the competition and determine the ideal quote
Such proprietors need to realize that coming up with the right quote is never an easy task. They need to come up with an amount which is neither too high or low. They come up with a unique product which public wants. These consumers may even be willing to pay a good price for it. Moreover, they need to think about and assess the nature of their competitors.
Entrepreneurs need to remember setting up an engineering company is difficult but not impossible. Peter Zieve says keeping in mind the above 3 suggestions can help them achieve their objective. In addition to this, they should be communicating with like-minded people and hire the best talents. They should also keep an eye on their finances to ensure the success of their establishments.