Can Start-ups Compete in the Engineering Sector?

startup

Credit: Enerva

Engineering is typically seen as a very attractive sector to get into. While it has suffered some negative impacts as a result of the recent economic troubles, these have been no more significant than any other industry. In some ways it has fared more favorably as economies have invested in infrastructure projects as a means of trying to promote economic recovery.

Even putting global economic issues to one side, the engineering sector has a lot of appealing aspects. It enjoys a reputation for being a highly skilled industry with exciting opportunities for the right individual. Thanks to the focus on innovation and specialization, the potential scope for professional and personal development is huge. At the same time, engineering skills are exceptionally transferable, and people can find themselves traveling the world to work on landmark projects.

Opportunities for entrepreneurs 

The engineering industry can be a particularly exciting place for entrepreneurs looking to create a new product or service and make it into a success. It is fair to say that large, established companies traditionally dominate the sector but this does not mean that it is impossible for individuals or small businesses to succeed.

Here is some advice for entrepreneurs looking to achieve such success:

  • While the largest engineering companies offer a general service, smaller organizations are better placed to offer a more in-depth level of expertise. Prospective clients and customers looking for a particular service are likely to seek the assistance of a company that operates primarily within this niche area. Transducer Techniques is a great example of a company that offers this kind of specialization.
  • Large organizations that have operated for many years tend to rely on traditional approaches. In some cases, deviating from such tried and tested techniques is actively discouraged as this is seen as inherently risky. Smaller organizations are, therefore generally better placed to foster a culture of innovation and offer exciting and unique new products and services likely to be of interest to customers and clients looking for something different.
  • Start-ups and small businesses are also well placed to offer a personalized service as opposed to bigger companies that can be accused of being somehow faceless. Fully understanding a client and their ambitions is the first step to success in delivering a product that precisely meets, or even exceeds, their requirements and expectations.

Competing on one’s own terms

It can seem daunting to compete with huge organizations that have well-established reputations and remarkably long histories, particularly in a sector such as engineering that relies so heavily on the success of past projects as a means of recommendation.

The key to success for start-ups and smaller organizations is to not try and compete with such organizations on a like-for-like basis. Instead, they should focus on what they can offer that larger companies cannot. This usually comes down to the ability to provide something unique, like a specific product or service that is delivered in a more personal and expert way than a large non-specialist company could ever achieve.

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.

Speak Your Mind

*

This site uses Akismet to reduce spam. Learn how your comment data is processed.