"Looking legit really means looking busy."
Engineers are the cornerstone of this nation’s economic recovery and you can succeed with a good idea, a good work ethic and a good plan.
The level of pain one might feel from this recession is dependent on which end of the axe you are experiencing. If it’s the blade, the pain is great. From the handle, maybe you are suffering from more psychic pain than fiscal pain.
What is most interesting is the reaction that I encounter from those experiencing the deepest cuts, the pain of losing a job.
Engineers are a remarkable, resilient breed, as several have said, “Just because I have lost my job, doesn’t mean that I am no longer an engineer.”
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The will to “engineer” is not tied to location or even job title. I suspect the number of you who have become “independent consultants” trying to ply your trade far outweighs the number who have given up.
To those who still love their profession, the down but not out, who work as consultants or even develop projects of their own, I dedicate this column to you.
The following observations come from starting, crawling, stumbling, walking and finally running a science and engineering-based new product development consultancy for the past 15 years.
The first priority when starting your own business is to create a plan. Figure out who you’re selling to. What do you have to offer? What sets you apart in the marketplace? What is your “compelling competitive advantage.”
If you’ve left a job on your own accord, you should have been planning your escape for years and your plan should be rock solid. You’ll have identified what you’re selling, and have a network of potential purchasers tantalized with the possibility of working with you. You’ll also have the pieces (your gear, group and garage) in place to execute the work.
If you find yourself unexpectedly out on your ear, I can only hope you have been planning for this eventuality.
Very few American businesses have a corporate memory of the word “loyalty,” except that they expect it from employees. Trusting corporate America for continuing employment is like putting all your chips on one roll at the craps table in Vegas — I actually like the odds better in Vegas.
If you are newly axed and have not “planned,” kick yourself in the butt, but take heart, all is not lost.
A rudimentary plan should focus on what you do and who you do it for. In some ways, the how is not always central to success.
Most businesses evolve, so even if you are the penultimate strategic planner, chances are things are going to change, but you will have much greater initial success if you can clearly define your product and your target market.
The marketing piece is a bit tougher, especially for engineers, since many of you have the personality of a walrus. A recent video spoof about the swine flu stated that engineers were not at risk because getting the flu requires getting out in public. Most engineers hate the public. If you see yourself in that last statement, marketing is going to be a real challenge.
The ability to pick up the phone and hustle new clients is critical to the success of any business, but for many of you it could be a terrible burden.
So, learn how to sell your problem solving services and your company, or hire a marketing “coach.”
A good marketing or public relations professional can help craft your message and aim you in the right direction. I’m recommending you find someone who understands your business goals and can help you develop communication strategies to help you achieve them. This kind of strategic support is worth going into debt over.
Finally, be and look legitimate — and manage your money. Looking legit really means looking busy, which can be faked a bit by working on one of your own ideas, when you are not out marketing, but the key is to look like lots of people have hired you and thus have confidence in you. The old marketing saw is “no one wanted to eat the first tomato.”
Remember that longevity equals cash. It’s that simple. You must conserve cash. Some of you will absolutely insist on the “Fernando” principle. Remember Billy Crystal’s SNL caricature of Fernando Lamas? “You look marvelous, dah-ling?” The real kernel out of “Fernando’s” mouth was, “It is better to look good than to feel good!”
Don’t try to make yourself feel good by spending money. Moving into a fancy office, outfitting your workshop with fancy tools, printing expensive business cards and hiring the development of a $10K website, (though you will need a minimal one to be legit) will not drive customers to your door.
Last but not least, have faith. Have faith in your abilities, have faith in your ideas, and have faith in your profession. It may not seem like it right now, but engineers are the cornerstone of this nation’s economic recovery and you can succeed with a good idea, a good work ethic and a good plan.
Mike Rainone is the co-founder of PCDworks, a technology development firm specializing in breakthrough product innovation. You can contact him via mrain1@pcdworks.com or by visiting www.pcdworks.com