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How to Start an Engineering Business | Free Book PDF Download

Starting an Engineering Business

 

How to Start an Engineering Business - Free Book


Are you considering starting an Engineering Business? if yes, you'll find this free book to be extremely helpful.

This is a practical guide that will walk you step by step through all the essentials of starting your business. The book is packed with guides, worksheets and checklists. These strategies are absolutely crucial to your business' success yet are simple and easy to apply.

The Single Most Important Ingredient for Business Success

The first and most important thing you need to acquire in order to succeed in a small business is... knowledge.

Sounds exaggerated? Listen to this...

According to research conducted by Dun & Bradstreet, 90% of all small business failures can be traced to poor management resulting from lack of knowledge.

This is backed up by my own personal observations. In my 31 years as a business coach and consultant to small businesses, I've seen practically dozens of small business owners go under and lose their businesses -- not because they weren't talented or smart enough -- but because they were trying to re-invent the wheel rather than rely on proven, tested methods that work.

Conclusion: if you are really serious about succeeding in a business... If you want to avoid the common traps and mistakes... it is absolutely imperative that you acquire the right knowledge.

"Why Invent Mediocrity, When You Can Copy Genius?"

That's an excellent quote I picked up from a fellow business owner a few years back. What this means is that you should see what is working and try to duplicate it. Why go through all the trouble of inventing something new, that you don't even know will ever work, when you can easily learn from and duplicate something that has been a proven success?

[ Note: One of the BIGGEST mistakes almost all new businesses make is that they WASTE tons of valuable time, energy and money on trying to create something "new", that has never been tested or proven... only to find out later that it was a total loss. Don't make the same mistake! ]

Hi! My name is Meir. I'm the founder and president of BizMove.com, a successful Internet based information business. I'm also the author of numerous books, mostly in the area of small business management.

I've been involved in small business for the past 31 years of my life, as a business coach, manager of a Engineering firm, a seminar leader and as the owner of five successful businesses.

During my career as a business coach and consultant I've helped dozens of business owners start their businesses, market, expand, get out of troubles, sell their businesses and do practically every other small business activity you can think of.
You see, I have been there .... done it ... and bought the Small Business t-shirt! -- This free book contains techniques and strategies I've learned during my 31 year small business career.

Here's what you'll discover in the 'How to Start a Engineering Business' book:

How to determine the feasibility of your business idea - a complete fill in the blanks template system that will help you predict problems before they happen and keep you from losing your shirt on dog business ideas.

A detailed manual that will walk you step by step through all the essential phases of starting your business

A complete business plan template. This fill-in-the-blanks template includes every section of your business plan, including Executive Summary, Objectives, SWOT Analysis, Marketing Analysis and Strategy, Operations Plan, Financial Projections and more (a similar template is sold elsewhere for $69.95).

All this and much much more.

Success Tip: Setting Goals

Good management is the key to success and good management starts with setting goals. Set goals for yourself for the accomplishment of the many tasks necessary in starting and managing your business successfully. Be specific. Write down the goals in measurable terms of performance. Break major goals down into sub-goals, showing what you expect to achieve in the next two to three months, the next six months, the next year, and the next five years. Beside each goal and sub-goal place a specific date showing when it is to be achieved.

Plan the action you must take to attain the goals. While the effort required to reach each sub-goal should be great enough to challenge you, it should not be so great or unreasonable as to discourage you. Do not plan to reach too many goals all at one time.

Establish priorities. Plan in advance how to measure results so you can know exactly how well you are doing. This is what is meant by "measurable" goals. If you can’t keep score as you go along you are likely to lose motivation. Re-work your plan of action to allow for obstacles which may stand in your way. Try to foresee obstacles and plan ways to avert or minimize them.

Click here! to download your book for free (PDF version)

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Here's a Sample 'Executive Summary' for a Engineering Business plan:

COMPANY NAME was founded in 1996 and is based in Thousand Oaks, Southern California.  COMPANY NAME offers good quality and cost effective service in engineering, design, procurement, project management, construction and construction management, environmental consulting, and other consulting services in relation to the design, building and management of electrical power.
Once projects have been secured, then project offices will be established and project personnel and staff will be recruited. Project office organization and staff will encompass the engineering, procurement, and construction divisions.
The Market
At the moment there is a real opportunity to increase Southern California's power infrastructure as the government owned power utility (PLN) has not been able to deliver a reliable and cost effective power system. However, the current situation in State of California is characterized by a continuing downward economic drift. It seems reasonable, however, that the company's target market sectors have strength to be credible buyers in the Southern Californian power business, since their business orientation is focused in the export market. The company faces significant rivalry from a variety of direct and indirect competitors.
The purpose of this plan is to attain grant funding in the amount of $1,600,000 in order to expand the company, strategize and implement an advertising campaign, upgrade to more efficient equipment and to hire additional employees.

1.1 Objectives

The financial and marketing objectives of COMPANY NAME follow.
Financial Objectives

  • High average gross margin percent of sales revenue for jobs. When the company  has been in operation for four years after attaining grant funding, it will also produce excellent IRR for 25 years, which will create different types of jobs: build, own, operate (BOO), build, operate, transfer (BOT), build, lease, transfer (BLT), build and rent (B&R), and energy conversion contract (ECC).
  • Net income of more than 20% of sales by the fifth year.  

Marketing Objectives
 Thus the marketing objective might read:

  • Expand customer awareness over the planning period.
  • Reduce competition, reduce risks, and lower price levels by establishing a joint venture with a reputable local company who has experience in performing EPC works of power projects, as well as the financial capability to be equal partners with COMPANY NAME.
  • Pursuing not only EPC prospects, but also BOO, BOT, BLT, B&R, and ECC prospects.
  • Utilizing the joint venture company as the main entity of COMPANY NAME to conduct business in Southern California.

1.2 Mission

The mission of the COMPANY NAME is to establish a strong presence in Southern California to implement all provisions of the Energy Engineering & Construction (EEC) mission statement with the specific mission of becoming the leading full service EPC in Southern California. Also, COMPANY NAME role to be the leader in the business of BOO, BOT, BLT, B&R, and ECC in the Southern Californian captive power sector, will be built through a joint venture approach.
The broad mission requires the following objectives within Southern California:

  • To obtain projects in all areas of EEC services.
  • Reduce the costs of performing work to the point that the Southern Californian operation can provide engineering, procurement, and support services at a lower cost than those provided by the larger corporate conglomerates.

1.3 Keys to Success

COMPANY NAME is a subsidiary company of United States Energy Engineering & Construction (U.S. EEC) that provides services including engineering, design, procurement, project management, construction and construction management, environmental consulting, management consulting, quality assurance and quality control, information management, operations and maintenance, and process technology development.
COMPANY NAME sets the following objectives for the products and services lines of power generation and power delivery projects:

  • Expand customer awareness over the planning period.
  • Pursuing not only EPC prospects, but also BOO, BOT, BLT, B&R, and ECC prospects.
  • To conduct business in Central and Southern California, and to provide all aspects of energy engineering services.

2.1 Company Ownership

COMPANY NAME is an S Corporation that was created as a Ventura County corporation based in Thousand Oaks, California, under the sole ownership of INSERT NAME.  The company was established in 1996 and is an A-rated member of the Better Business Bureau.

2.2 Company History

Since 1996, COMPANY NAME has provided construction and energy solutions to home and business owners. With a focus on lighting design and general contracting COMPANY NAME provides a full range of services and can meet virtually any electrical and lighting need. No project is too small or too large. Every project adds value to a property and increases security, comfort and convenience.
COMPANY NAME builds custom homes, additions, bedroom and bathroom remodeling, any and all indoor and outdoor building projects.  The company also does electrical work, including installation and wiring for residences and commercial buildings.
With the current expansion of solar energy, COMPANY NAME is able to provide green alternatives to meet the customers' home and business energy needs. By utilizing solar power, customers reduce their energy costs and also may be eligible for certain tax benefits and energy credits.
COMPANY NAME is located in Thousand Oaks, California but provide design, lighting and construction services throughout Ventura, Santa Barbara and Los Angeles Counties. The company is an A-rated member of the Better Business Bureau.

Table: Past Performance

Past Performance

 

 

 

 

2007

2008

2009

Sales

$451,318

$405,231

$387,464

Gross Margin

$199,611

$160,155

$153,251

Gross Margin %

44.23%

39.52%

39.55%

Operating Expenses

$27,482

$30,782

$30,386

 

 

 

 

Balance Sheet

 

 

 

 

2007

2008

2009

 

 

 

 

Current Assets

 

 

 

Cash

$4,000

$10,000

$25,000

Other Current Assets

$10,000

$12,001

$14,000

Total Current Assets

$14,000

$22,001

$39,000

 

 

 

 

Long-term Assets

 

 

 

Long-term Assets

$710,837

$924,089

$1,243,965

Accumulated Depreciation

$0

$0

$0

Total Long-term Assets

$710,837

$924,089

$1,243,965

 

 

 

 

Total Assets

$724,837

$946,090

$1,282,965

 

 

 

 

Current Liabilities

 

 

 

Accounts Payable

$0

$0

$0

Current Borrowing

$0

$0

$2,000

Other Current Liabilities (interest free)

$0

$0

$0

Total Current Liabilities

$0

$0

$2,000

 

 

 

 

Long-term Liabilities

$860,000

$643,789

$514,000

Total Liabilities

$860,000

$643,789

$516,000

 

 

 

 

Paid-in Capital

$20,000

$50,000

$20,000

Retained Earnings

($327,292)

$122,928

$624,100

Earnings

$172,129

$129,373

$122,865

Total Capital

($135,163)

$302,301

$766,965

 

 

 

 

Total Capital and Liabilities

$724,837

$946,090

$1,282,965

 

 

 

 

Other Inputs

 

 

 

Payment Days

30

30

30



3.0 Services

COMPANY NAME offers good quality and cost effective service in engineering, design, procurement, project management, construction and construction management, environmental consulting, management consulting, quality assurance and quality control, information management, operations and maintenance and process technology development.
COMMERCIAL
Businesses run on electricity and light, often requiring complex solutions to meet the needs of workers and customers.  Task and display lighting, energy-efficient solutions, security and safety issues are all services COMPANY NAME provides to commercial customers. COMPANY NAME provides fast, reliable service on commercial projects.
Safety, Security and Exit Lighting
Display Lighting
Lighting Upgrades
Fuse Panels
Wiring
Energy Conservation
RESIDENTIAL
Not only does COMPANY NAME handle general service calls but they also provide interior and exterior lighting design and installation services to make the customer's home more beautiful, safer, and more efficient and increase its value. The company deals with general lighting, which is the overall ambient light; task lighting, which is specific to work areas; and accent lighting, which adds drama or highlights particular areas in a space. Whether the project is a renovation, new home construction, an addition or regular maintenance, COMPANY NAME provides solid expertise and unsurpassed attention to detail.
Interior Lighting
Exterior Lighting
Display Lighting
Recessed Lighting
Automation
Security
Landscape and Outdoor Lighting
Wiring, Outlets, Panels and Switches
Rewiring
New Circuitry
Surge Suppression
Energy Conservation

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