engineering, business & entrepreneurship...2019/01/31  · • virgin visionary sir richard...

ENGINEERING, BUSINESS &

ENTREPRENEURSHIP

Neresh Pather

31 January 2019

• Steve Jobs put it best “The most powerful person in

the world is a story teller”

• Virgin Visionary Sir Richard Branson claims that “the

story of Virgin, its ups and downs, opportunities and

challenges - is what attracts people to our products

and services and also to work with us. We would be

nothing without our story”

Introduction

Engineering as a Profession

• Our industry builds tomorrow’s future, daily turning

dreams into reality.

• It is about People and the world we live in

• Clean water, reliable energy, safe transport, fast

communications, life-saving medical equipment and

food in the shops – all rely on engineering solutions

that make the world a safer, more comfortable and

exciting place to be.

• I am proud and blessed to be an Engineer!

Expertise

• Totally different skills set

• Ability to understand clients problem

• Review all options

• Find the right solutions

Time

• Clients don’t have the time to find necessary solutions

• They don’t have the right people in house

• They don’t have the necessary tools

Best Practice

• Be better than anyone else

• Develop as many tools as possible

• Offer a strong point of view, ideas and opinions

• Be Professional

Why do clients hire Engineers

Key Elements of Business

• Hiring the right people – qualifications, training,

awareness

• Overhead Expenses – Labor, rent, equipment

• Generating Revenue – finding new clients and

projects, keeping existing clients, public relations

• Systems and processes to manage client

expectations and delivery

• Managing Risk – technical, reputation, financial

• Generating a return, profit and growth allows you to

stay in business

Winning Work - Marketing

Put yourself out there – LinkedIn, Professional Organisations, List your company on every site available this is outside formal advertising

Network with people – within your field, outside your profession – use every cocktail party you are invited to work the room. Find out what others are doing and offer your expertise

Keep People constantly informed of your progress and what your are working on

• Make sure you have a niche

• Be prepared to make sacrifices

• Assemble the right team (internally and externally)

• Have a financial backup plan to carry you through the

tough times

• Pay yourself last

• Give your employees a say in the direction of the

company

• Give people ownership and a shareholding

• Invest in your people

Factors for Success

Defining a Successful Engineering

Business

• SELF AWARENESS

• Understand your capabilities, strengths and weaknesses

• VISION & INNOVATION

• Be aware of coming trends both economically and in your field, do not ignore technology

• ADAPTABILITY

• Do not limit yourself or be afraid to grow or expand

• INTEGRITY

• Never sacrifice quality for financial gain

• HONESTY

• Always be upfront with your clients

Challenges of in a tough economy

• Collections and cash flow issues

• Delicate client issues / difficult clients /contract management

• Asking your key employees to make personal sacrifices and

constantly push the goal posts based on deadlines

• Dealing with creditors and obtaining loans

• Maintaining a positive attitude in difficult times

• Maintaining a good work life balance

Surviving in a down economy

• Adapting and offering diverse services

• Invest in different fee models with the understanding

that you’re a building a future working relationship

• Aggressive networking and marketing

• Cash is King

• Finding a niche, use resources to research and

innovate to get market edge

• Developing a family like atmosphere of caring so that

employees draw strength and inspiration from each

other

• Van Wyk & Louw (Later Africon, now Aurecon)

• PD Naidoo & Associates

• Mott MacDonald

My Personal Journey

A Small Consulting Company

You will skip the corporate ladder

You will work on company wide

strategies

Exposure to big thinking

More opportunities to

grow

More diverse expertise as you

working on everything

More opportunity to interface with

clients

You get an instant network as you get more

exposure

You get to wear more hats

Family affair

A Large Consulting Company

Defined hierachyBetter systems and processes

More opportunity for specialisation

More opportunities to grow in different

fields

Better working conditions more

perks

More opportunity for training and

travel

More structure and organisation

More politics More

bureaucratic

“We cannot change the past, but we can

reshape the future. Young people have the

opportunity to create a happier, better

future. – Dalai Lama”

Reshaping our

Future Together

18

Thank You!