Entrepreneurial Engineering
Previously, I supplied a small glimpse into my future plans after graduation, as well as my mindset for finishing off this semester; however, I left out one of my most fervent ambitions. I neglected to inform you of my entrepreneurial endeavors that I am currently partaking in within the realm of engineering, as well as those that I wish to pursue after college.
Firstly, I never expected to find myself on an “entrepreneurial track” what-so-ever. After all, I am studying mechanical engineering, not business, so the thought of studying “marketing,” “economics,” and all that jazz, has never really been appealing. However, I’ve always kept an open mind — which is usually a good thing when you have no idea where your degree, experiences, or life goals will lead you — therefore; it wasn’t long before I got roped a seemingly straight forward engineering project… which has been anything but.
This engineering project that I speak of is my Senior Design Project. It is the final hurrah before graduation which for most, is comprised of a team of about four engineering students who respond to one of our professor’s request for proposal and essentially draft a design document to “bid” for that project. Once a team obtains a project, they spend their final year dusting the cobwebs off their old textbooks and put to work all the knowledge that they have gained throughout the years to design and manufacture a solution to meet the criteria outlined on the RFP.
However, for the teams that choose to scoot a bit farther out of their comfort zones, there is another path to take. This path is the “entrepreneurial route.” This entails a completely different approach than what we as engineering students are used to. Instead of strictly wearing the hat of an engineer, we instead must wear multiple hats throughout our entrepreneurial endeavor.
Starting this process, we first must identify a problem that is in need of an engineering solution. Continuing with a business mentality, we then progress to identify a customer base and ask ourselves, “who is going to buy this and why.” Once we establish these components, we can then get to work parameterizing the problem by working with the would-be-customers to pinpoint exactly what they are looking to gain by this new solution. By interviewing our target market, we can establish a list of requirements that we can then prioritize and systematically integrate into our product. As the design process continues, we put on our engineering hat and eventually (after many cycles of trial, feedback, and redesign) we will come up with a product that is tuned to the needs of a particular group of people who have been experiencing whatever issue previously discovered.
My first time through this cycle, my team and I ended up failing, though not in a bad way. It was actually an eye-opening experience because I learned that even though you may have a great idea and others may even agree, it doesn’t mean that consumers are willing to buy it. Fortunately, we were able to identify an interest in a different market that we are now currently pursuing.
From this technique, we are taught to look at the whole picture — from beginning to end — idea to end user. As engineering students, we are too often faced with cut and dry problems. “Here is a list of parameters, take these equations and go and make something that works.” Hardly ever do we get to interface with the end user or learn how the parameters were established in the first place. With this new opportunity, we are able to independently identify when there is a need for innovation and utilize various research techniques to establish designs based on need rather than want. These are attributes that will ultimately lead to the designs of successful products and the establishment of successful businesses.
Speaking of which, finally getting to my “most fervent ambition,” I eventually want to start my own company — actually two. One of these might be a design consulting/random design type business where I’d have the liberty to sell my designs or even products that I create on an “as-need” basis. For example, I could sell the designs for the bed rack or bumpers that I make for my (future) truck, or the custom detachable storage compartments I design for my (future) light aircraft. Perhaps I’ll sell the steampunk pipe lamps that I love to make (I actually really love tinkering with LEDs and different types of light diffusers), or maybe even the multifunctional furniture I create for my (again: future) house. I know this isn’t really a sustainable business plan and it would probably yield very little income, which is why it would only be a side-gig requiring very little effort on my end.
Nevertheless, my primary business venture is actually starting an armory/specialty firearm company. Believe it or not, I am actually a very avid gun enthusiast and I love spending time at the range, plinking away, and building my own firearms. (I actually explored becoming a firearm engineer, but there doesn’t seem to be many job openings in this field.) Regardless, the point behind me pursuing a business of this type, besides the fact that it is one of my key interests, is due to the fact that when I am spec’ing parts for a build, I can NEVER find the perfect pieces that fit my style or required function. In the off chance that I do, they’re often absurdly expensive or fall short in one respect or another.
Therefore, this business would allow me to innovate and create functional components that don’t exist yet (for reasons I do not yet understand), providing me the opportunity to give back to a community that brings me enjoyment and possibly even providing me with an alternate form of income. I plan on starting off small, just making accessories and small parts, but eventually plan on designing some custom firearms that provide function and utility that I have not yet seen on the market. Consequently, as I continue my education pertaining to entrepreneurship, I hope to have the opportunity to learn how to create sustainable and economical manufacturing processes to support a successful business.
The only downfall is: the more I think about starting my companies, the more expensive I realize it’s going to be. There are so many expenses that I don’t even want to think about. Furthermore, neither of my companies aim to target a specific need, other than my own, which I understand could lead to a disappointing outcome. Needless to say, I have many ideas and am very excited to get started (though I have to wait a while — at least until I graduate); therefore, as I near these milestones, I plan to conduct in-depth customer research, as I learned to do with my SD project, so I know what exactly I’ll be getting myself into... As I mentioned before: even though you may have a great idea, it doesn’t mean someone will be willing to buy it.
If you’ve stayed with me thus far, thank you. I’d also like to provide you the opportunity to vote on next week’s topic from the list below, so if you see anything that catches your eye, please leave a comment below!
- My experience with professional interviews, obtaining internships, and changing your mind
- Work-life balance: the struggle between school, professional organizations, family, and self-care
- How I managed to build credit with 4 credit cards and remain debt free as a college student
- My opinion on: So you’ve graduated, now what?
