Is engineering degree enough for entrepreneurship?
As a part of our business plan workshops for students, we come across several queries from young minds across the country – and the most common across engineering colleges is that whether as engineers, they can be good entrepreneurs. While there are several choices a fresh engineer has after the degree, including job, MBA, IAS or PHD etc. I believe nothing matches doing your own business!
So let us look at the basic query itself – what is entrepreneurship? It is about identifying a problem of a customer, solving it using your engineering brain and delivering it to customers in a profitable manner. Any business has 2 aspects to it and none can be compromised – 1st is CREATE and 2nd is SELL! As engineers, creating things comes naturally or as a part of the curriculum and training. Most engineers are well-versed to think in 3 dimensions, visualize situations, optimize resources and handle complexities. Its only when the selling part comes that they lack confidence. However, in my view,
selling is an art that comes with practice. Is this too hard to learn? I do not think so, but let me suggest what engineers can do to improve these skills:
1. Join a startup for internship
Startups have a culture of their own. A small team means higher responsibilities for each individual, and space is given to all to take decisions and make a difference to the end product in a short duration of 2-3 months. This maybe tough in a large corporation, where interns are relegated to insignificant roles like online surveys, data collection or making ppts etc. and it takes 2-3 months just to get project approvals.
2. Take up campus ambassador roles
Nowadays, large and small companies appoint campus ambassadors to connect with student communities and spread awareness about their brands. You can join such program, which will give you insights right in college days to explore business aspects like marketing, products, event management etc. and also help you network with other college students across the country.
3. Attend events of interest outside college
There are various forums on entrepreneurship, marketing, finance etc. which allow free entry to students. The positive experiences and meeting people at these forums can really help you shape your ideas.
4. Take part in business plan competitions
Business plan competitions are a good way to organize your thoughts, make your plans and take a feedback from experts, mentors and judges. It also allows you to travel, be on your own and make new friends outside your college. Who knows you may find your business partner somewhere!
5. Start your own business
While it is tough to manage studies and business at the same time, you can start something in a team of 3-5 and manage the show. For example, a website or mobile recharge business does not take much to start, but it can give you real experiences in life. What sounds better on a resume – “made a library management software in foxpro, C etc.” or “Started my own company and sold to millions of customers”!
So go out and make yourself, your family and your nation proud – maybe you could be the next Narayana Murthy and make the next Infosys!
Article is published in : http://www.comptalks.com/is-engineering-degree-enough-for-entrepreneurship/