Exploring new business options

[molibden]

I'm a sole engineer designing mostly timber buildings. My work involves high end homes and small apartment buildings across Europe. I work mostly with timber, but I'm not shy to take on concrete, masonry or steel if a project involves it.

I will probably never design skyscrapers or run a big consulting firm, but that's ok - I don't see myself go down that path.

What I wonder is if anyone transitioned from pure design work to other businesses in construction sector, like project management, manufacturing, become a contractor, software development, material testing, product development...

Point of this thread is to gather some experiences from other engineers who started with design and transitioned to other ventures within construction sector.

It is hard for me to imagine myself in 20 years being alone and doing same work as now. It is somewhat exhausting and one can hardly keep up.

 

[oldestguy]

Later in my career I worked alone. When much work was present I managed to hire, part time engineers for routine stuff. Here I didn't want the problems of an employer so I considered them as outside consultants, self employed.

 

[EcoGen]

I'm also thinking of separating from my current company and venturing out on my own. My long-term goal is to rack up wealth as fast as realistically possible and I've always had a feeling consulting work is just not going to get me there. A couple things I have in mind are to invest in some business ideas I currently have going inside and outside the construction industry.

Inside the industry in addition to engineering, I'm working on some general contracting and project management jobs. This isn't my world but I think I'd be more than competent enough to take it on. So I've partnered with someone from that world. And when I say partnered, I mean we both have our own companies and work together on a job by job basis not actual partners of one company. Outside of the industry, I've been investing and learning about e-commerce primarily Amazon FBA and affiliate marketing.

 

[molibden]

oldestguy: I tried that on a few projects. We managed to get them done without any problems, but money wise I don't see the point. Outside consultants are expensive, even drafters are expensive. In the end I earn less than a guy to whom I outsourced. And I have all the responsibility. Probably you have better prices in your market.

manaf_engineering: I am already self employed. I'm looking for opportunities like you describe - partnering with someone to take contracting jobs or manage projects. Outside of the industry doesn't really interests me, I tried that when I was younger (e-commerce, website design..).

Here are a few real world examples that interest me:
- Company is specialised in timber design and execution. They provide all the engineering, drafting, 3D CAD for CNC machining, outsource manufacturing and assembly on site.
- Company develops niche software for engineers based on Eurocode (market is basically the whole Europe).
- Company invents new connectors for different types of structures and manufactures them.
- Company offers standard structures like sport halls, carports, saunas, garages etc. and manufactures them based on client parameters.

Did anybody venture in any similar business?