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