3 Things to Know About Starting Your Own Engineering Firm

A career as an engineer can be an incredibly rewarding and lucrative one. Regardless of what
type of engineering you specialize in, taking your experience and knowledge about your field
and using it to build up your own company might be something you have dreamed about for
some time now.
That being said, starting an engineering firm is no easy feat. There are many things that you
need to take into consideration and prepare for prior to getting things started. You should be
ready for some serious challenges, particularly within your first year. Nevertheless, with proper
planning and perseverance, you can find yourself working as your own boss in the field of
engineering.
If you are considering branching out and starting your own engineering firm, here are three
things that you should know right off the bat about the process of starting such a business.

1. Protect Yourself from the Beginning
   Starting a business of any kind involves multiple moving parts and many considerations. It is
   easy to get caught up in these things initially and neglect to secure the proper protection for
   yourself and the business you are trying to build. With this in mind, one of the top priorities in the
   early days should be to secure the right protection for yourself and your new business right
   away in the form of the right insurance coverage.
   The engineering insurance that you go with should meet certain criteria. Firstly, you should
   ensure that the policy is tailored to the type of work that your business is going to be involved in.
   It is also important to go with a policy that fits your budget. Ultimately, insurance coverage
   tailored to your new business will serve you well in the years to come.
2. Learn to Think Like a Businessperson
   You very likely are looking to start your own engineering firm because you love what you do in
   the field of engineering and want to start doing your job on your own terms. In order to
   accomplish this goal successfully, you are going to need to learn how to think like a
   businessperson, not just an engineer.
   There are going to be a variety of aspects of starting your firm that isn’t engineering specific.
   Deciding on the right branding, building your client base, and understanding how to best
   manage employees are all things that you will need to learn how to do properly.
3. You Will Need to Build Connections
   Another aspect of starting a successful engineering firm that you will need to master is that of
   building connections. Your professional network is going to help you in a big way as you look to
   strike out on your own and build your own firm. Knowing the key players in the industry and
   being able to communicate effectively with them is crucial, as is finding and bringing on board
   the right talent for your own firm.