Project Management Business – is it common?
Thank goodness for the fast growth of technology, right now it’s easier than ever before to start any business of your choice.
You could start a project management business and work independently from the comfort of your own home or yet choose a physical outlet for your new business.
Project Management is a great skill that has been in high demand for decades and is still relevant to most industries all over the world.
If you have a good background, skill, and experience in developing and managing projects, then starting a project management business could be a perfect fit for your career.
You might be asking how to start.
Well, worry no more because we’ll show you how to.
In this article, you’ll learn a step-by-step guide on how to start a project management business in Dubai and more.
Keep reading to learn all.
What is a Project Management Business?
This can be seen as the process of running daily business activities that focus on helping industries or organizations develop, oversee and manage their company projects.
Project Managers specialized in the areas such as marketing, engineering, construction, Financial project management, and more.
The reason why lots of companies need the assistance of project management in their firms is to lessen the burden on their internal managers and to make work easier to achieve their business goals fast.
If you have an interest to set up a project management business and you search for the way to go about it, the step-by-step guide below will greatly help you to find out how to start.
How to start a Project Management Business in Dubai?
Setting up a project management business in the Emirates wouldn’t seem as difficult when you follow the instructions we listed below.
Here is step-by-step advice to follow if you want to start this business.
- Get trained or qualify.
- Know what is involved in the business.
- Have a business plan.
- Choose a business name.
- Get your business registered.
- Set up and start your marketing.
- Endeavor to get a trusted mentor.
We shall now examine the above 7 points one after the other.
Get trained or qualify
The first step to take advantage of before you think of starting a project management business is to get professional training because this is not just a business to start without having proper background knowledge or needed skills.
As a project manager, you are required to have analytical, planning, detailed oriented skills, as well as a qualification to help you outshine your competitors.
As having a qualification or being professionally trained in this regard may be the reason why a client or a company can decide to do business with you.
However, if you don’t have prior knowledge of what project management is, to make it easy for you, you can leverage the internet and get a project management course online, study from the comfort of your own home and earn a degree in project management.
That being said, let’s look at the other points.
Know what is involved in the business
After you must have gotten training or been certified as a professional project manager though you mustn’t be a professional before you start.
Acquiring the knowledge and having a certificate is nice, but it’s not good enough, you need to know what is involved in the marketplace.
You should ask yourself some questions such as:
How do I get clients or companies to work with?
What services do these companies need?
Do I need assistance to run this business or can I do it alone?
Understand that having insight into the growing market, knowing the price, and getting customers’ reviews beforehand will help make the operation of the business easy for you.
Have a business plan
Before starting any business including the project management business, it’s advisable to have a good business plan.
Your business plan should include:
- A budget of your income would be enough to start and sustain your business for the long run.
- Your employees, know if you are going to hire experts to help you.
- Your day-to-day business activities and more.
In addition, you need to decide on how to operate your business, either you choose to set up a physical company or become a full freelancer and work online.
However, whichever is your favorite, understand that having a business plan will save you cost, keep you strong when the going gets tough, and support you to run a successful project management business in Dubai.
Choose a business name
Giving your business a brand name will help you to stand out from the crowd.
When someone sees this particular name, he or she will interpret the meaning of it, so it’s necessary to give your business a name that relates to the services you offer.
However, have in mind that Dubai has some regulations and rules when it comes to the type of name you give to your business.
Therefore, ensure you do not intrude by going against their laws to avoid withholding your request to set up your business in the region.
Get your business registered
If you want to start your own project management business in Dubai, you must have to register your business with the appropriate authority.
The Dubai government has agencies that take care of each business registration. You need to meet their requirements, get approval from the supreme council, then with the memorandum of Association certificate issued to you, you are free to set up your business in any location of your choice and eligible to trade both in the international and local markets in Dubai.
Set up and start your marketing
Once you’ve successfully registered your project management business with the authorized government agency in UAE, you’re now ready to start up and tell the world about your business.
How do you achieve this?
Well, it’s quite simple, start marketing.
Marketing is an essential skill to getting your first client, and not only that, but it’ll also get you the ideal companies to work with and help to boost your business sales.
Let your networks such as your family, friends, and colleagues know that you’re setting up your own company. You can as well market your business via emails, business websites, or using social media platforms such as Facebook, LinkedIn, and lots others.
Endeavor to get a trusted mentor
One thing is to start a new business another important thing is to make sure you have a trusted coach to guide you throughout the whole process.
Understand that, it may not be easy for you at first as an independent project manager because you’re new to this field.
Hence, we recommend you get yourself a business coach as Masar AI Ameen – to help you set up your project management business and assist you in handling your business plan even when things become tough in the long run because you’ll certainly run into issues you’ve never experienced before.
Is Project Management Business profitable?
Well, according to the US Bureau of Statistics report, a project management business generates approximately $100,000 to $150,000 in one year.
One other benefit of starting a project management business in Dubai is that you’ll have ample opportunity to work with many industries, be your boss and earn hugely.
So you see, a project management business is a profitable business you can start if you have the skills.
Conclusion
The project management business is one of the most lucrative businesses, booming so well in Dubai.
A person who has good knowledge and skills in this career can decide to start or operate a consulting business or company to develop, manage and monitor organizations’ projects to help them achieve their goals.
If you want to get a share of this growing business in Dubai, all you need to do is choose the project management business type you want to operate such as marketing, construction, Engineering, or IT project management, and get a clear understanding of how the business works, get your business registered with the appropriate government authority, start marketing and you are good to go.
However, have in mind that the process may not be easy for you as a new entrepreneur who has less knowledge of Dubai’s culture and environs, you’ll want a trusted business consultant Masar AI Ameen who you can go to for help when planning to start or run your own project management business in Dubai. This team will assist you till you’re competent enough to handle the business by yourself.
Are you ready to start a project management business in Dubai?
Which project management business type have you chosen?
Remember to point out your views in the comments section we provide for your below.
