Business Startup in Electrical Engineering

First off, we do not know who you are, or your experience...... So.....

Start with a business plan, and in this business plan you'll need to include;

- how you plan on financing,

- exit plan

- industry trends

- customers

- your companies business structure

- a financal forecast.

This is a start...... The are business plan templates available. Start there.

You being more familiar with your industry...... Doing this will answer you questions......

Also put in the pros and cons into your business plan. It'll look like it's was well thought out.

I graduated in Electrical Engineering from a well recognized univeristy UET in 2012.

So, Firstly , its the learning process for start up the small level business.

its very simple, I know the technique of PCB designing, But the problem is comes.

1.I cannot contact the costumers who wants it ,

2. how can i know, whether some where in california or Chicago wants the pcb designing etc.

3. The benefit of doing business from pak is simple , Here people gets cheap labour as compared to other parts of world,

Thanks

Well, being a very competent pcb design does not collate to running a business.

It is a different mind set and way of thinking...... Try to network with a business mind person as a partner.

It's not easy, and customers base is tightly guarded.

But since there seems to be a reason for you to think about starting your own business, you must know something....

Start writing it down.

yeah,

you said things right,. I have an environment of some fellows who start up small set up by freelancing or o desk,

So , they were techi like me. but once started getting in touch with customer, they are on their way.

So , i believe in this path, So, what i need is to get in touch the market place of PCB designing, then i will be on my way,

Well, do that, then.

Asking an anonymous forum seems a rather weak attempt and one that will not help you much.

You want someone to read your mind and also tell you what the best business is for you to be in?

What did you learn in college? Did you ever do any research while in school?

Anyone has anygood idea's to start small buiness in pakistan ...

Best Small Business Ideas in Pakistan | Web.PK

Doing business in Pakistan: learn from sub-national peers - The ...

I have an app for that.....

http://www.expresspcb.com/

Haseeb, I suggest you following:-

1. Conduct market research by contacting existing mfrs. Are they having good business?. If not then you should not enter in this Field.

2. Meet potential customers and introduce about your plan.

3. Initially start consulting business with small investment.

4.Prepare a project report and submit to bank for financing.

If everything works out well them jump in the SME.

sales people often get bad press and often rightly so but without them many products would not get to market. There is nothing nice or pleasent about cold calling on a potential customer and trying to get business.

It is a clever thing to design and build a PCB. Its a cleverer thing to find where to sell these products to. Your idea that cheap is good is not always right because often too cheap can be seen to be a risk.

Suggest you do some serious market research and find out if you have a market you can get into.

Salaam Haseeb,

I am also an electrical engineer from Pakistan. Probably the best way to go about it is to prepare a feasibility report about what you want to do. It may include all the things listed in one of the replies. But be specific. Developing the feasibility report will help you decide how viable it is to go for a start up in what you want to do. Go into the market. Go to hall road and talk to the many electricians there. They might help you in finding what is it that the local market isn't able to provide. You can target that. Also there are a couple of good feasibility reports on SMEDA website which are related to Electrical Engineering. Do you have any job experience of that sort?

Thanks for a kind response.

I went to hall road to survey. I have following points useful from the survey.

1. PCB designing is not profitable now.

2. Now, most of hall road electrical shops are now working on embedded system. as it is profitable.

Now, i am moving my business strategy towards embedded. as it mostly based on simulations apart from fabrication.

yes, i am experienced. What about you brother?

Hello Haseeb,

Sometimes the advice from this blog might not seem friendly. That is OK if you can forgive the writer. Many times, it is more important to consider what information is given rather than how it was expressed. That may require a lot of patience.

While it does sound like you are very prepared from a technical standpoint, it seems that you have realized the hard part is finding customers and making them happy. That is also going to be true with embedded products as well. Consequently, I would like to suggest some ideas you may want to think about.

If you will allow me to tell a short story, I think you will understand. I started an internet cafe business with my brother in the USA in 2004. It was never profitable because he never wanted to spend any money on advertising. He assumed that he would create a large number of customers because he thought that everyone was as excited about playing games as he was. That was not the case. The potential was very large but nearly everyone already had games at home. Even though they had spent thousands of dollars for a computer, so they could play games, they didn't want to spend $3 per hour on our machines with an almost unlimited number of games to try. Then, when the XBox came out, it got worse. But, that is the way it goes.

If you can arrange to visit, or even take a job for a while in something that you would like to do as your own business, it will help you in ways that you cannot see at this time. Learn how other people make that business successful and then focus on how to do it better. You may find that some businesses will go to great length to keep you from learning everything that they do. And on a final note, you may come to realize that as the head of your own business, there is no time to do the work that you like the most. Technical people frequently do not make good businessmen. And businessmen do not make good technical people. It is very difficult to do both jobs well without training or experience in both. Good luck in your search!