How can an electrical engineer start a business?

Answer 1

It depends on the kind of business he or she wants to start. The first step is to create a business plan. You will need to decide what niche or specialty your business will occupy (why should people come to you, in other words); what kind of service you will provide; and who your target audience will be (what age group, for example). Once you know what kind of business you want to open and where there is a need for it, you can then begin to make the plan. You will need financing to start -- for example, if your business is in a store or an office, you will need money for rent; you will perhaps need to hire assistants; you will need to promote and publicize your business so that people will know about it and try it. These are all factors to consider even before you begin to have customers. Once you know what you want to do and where you want to do it, work with some people who are experienced with financing and with writing business plans. Having a good plan will give you the knowledge you need to help your new business to grow.