Starting A Business In Electronics?
Working in electronics is a highly-skilled career choice. It’s also an incredibly lucrative and secure decision.
Electronics are driving our economy, providing components and research for every aspect of our daily life. From our smartphones to TVs to games consoles, electronics is hot property.
One interesting factor here is the growth of small, niche firms. Of course, the big companies like Siemens will always exist. But, independent, self-started companies are thriving.
There’s never been a better time to start an electronics company. But the big question is this: where do you start?
Find a niche
First of all you’ve got to carve out your unique corner of the job market. Electronics is an enormous industry, with all sorts of applications. To make a start here, you’re going to need to work within a very specific niche.
When it comes to electronics, people aren’t looking to hire or buy from a jack-of-all-trades. They’re looking for a highly-skilled expert with intricate knowledge and products.
It’s your job to be the very best at something. That’s how you will find your way into the market.
Much like any other industry, the system works on ‘who you know’ as much as ‘what you know’. Jobs and contracts are secured through existing networks of contacts.
As you can imagine, companies like to work with people they know and trust. That’s why networking should be right at the top of your priority list.
Extend your network of contacts in the industry, and connect with people that will open doors for you. Landing the first job is the hardest, but from there you can ask for referrals and testimonials.
Experience and skills
Electronics is a highly-technical profession. That makes it incredibly difficult to create a profitable company from scratch. Instead, you’ll need to build up a few years of experience and knowledge.
You’ll have to hone your craft, and build a very specific set of skills. You’ll need an intricate knowledge of individual components and processes. That means knowing the difference between RFI and EMI shielding, and understanding complex designs.
That will probably mean working for an existing firm to begin with. Use this as a learning experience to acquire skills and analyse how the business works.
As an electrical expert, you probably don’t have much experience with marketing. It’s important that you realise that this is now a core part of your job description.
As the head of a business, you need to use marketing techniques to establish yourself as a business. You’ll need a steady stream of customers or clients, and that means learning to sell yourself.
Running a business
Finally, don’t forget the administrative aspects of running a business. You’ll need to register with the tax man, and begin keeping track of your accounts.
You’re no longer just an electrician, you’re a CEO! That’s a difficult transition for some people, but keep learning as you go along.
There’s never been a better time to set up a business in electronics. Take this opportunity to explore your passions and skills within a niche. Best of luck with your new venture!