If you are one of those who hold bachelor/master degree in engineering and don’t just want to serve any company rather want to do something of their own, then this particular blog may be useful to you. Generally, when we talk about entrepreneurship, one thing comes in our minds that only MBA students lend themselves to entrepreneurship. But there are many engineers in India and the world who have proved themselves as successful entrepreneurs.
Engineers are inherently troubleshooters, so there is no better way to put your skills to use than consulting. Technical consulting is one of the most common fields for engineering consulting, in which consultants work with different startups and small and medium scale companies to improve their technical capabilities, solve technical issues and improve overall performance. The deal of consulting revolves around research, data analysis, designing, developing solutions, as well as helping clients by implementing those solutions.
Besides your technical skills, you would require excellent communication and analytical skills, team spirit, as well as the ability to build lasting relationships. Generally, technical consultants begin their careers working for existing consultancies to gain experience before starting their own venture.
IoT is one of the booming businesses today and the market is expected to reach $300 billion globally by 2020. With everything nearby getting connected to the internet, businesses, especially startups are hunting for experienced engineers with the skills to design hardware for the devices that are connected to the internet. No doubt, there are abundant opportunities with existing companies, but there are also the requirements for engineers to work on a contract basis for several projects, which you can do seating at your home.
With the growth of the IoT, the Make In India Movement and other trends in the sphere of engineering, interest in technical education is at an all-time high. Using your knowledge and skills to help develop the next generation engineers teaching would be a constructive idea. Nowadays, several colleges and universities hire engineers as adjuncts and lecturers to teach introductory courses. You can also put your knowledge to work by offering technical training to employees of different companies that are in search of trainers to upgrade their employees’ skills.
Considering these a few business ideas you can create values as well as make good money with your engineering degree, but apart from these, there are other options like logistics, procurement, systems and control, and legal consultation etc. that you can consider. It is advisable not to limit yourself to believe that with this degree you must become an engineer only.