6 Effects Coding Is Having on Entrepreneurship

Coding and programming are capable of bringing change to all aspects of industry, but you might not realize they can affect entrepreneurship as well. Here are six effects coding is having on entrepreneurship.

1. Improving Critical Thinking

To be an effective entrepreneur, you need to be good at critical thinking and thinking quickly. Coding is an especially good way to improve your critical thinking skills and speed. To code properly, you need to be able to think through problems and find solutions logically, break down complex problems into simpler, easier to solve chunks and then put those chunks together. These skills can help you stay grounded and logical in other aspects of your business’s decision-making, such as budgeting, hiring and project development.

2. Improving Creativity

Like improving your critical thinking skills, learning to code can also improve your creative skills and thus your business’s ability to compete in its industry. The creativity required to develop solutions in coding can transfer to creative ideation in other areas of your work. You’ll be better equipped to look for new angles to address and solve problems or to take unconventional and innovative routes on project development.

3. Mitigating Resource Scarcity and Costs

As an entrepreneur, you will likely develop businesses and projects with shoestring resources and teams. When this happens, it’s important that everyone on the team, including the entrepreneur, be able to take on multiple roles and responsibilities. For example, a marketing strategy small business or startup may have very few employees, so everyone having cross-functional and transferrable skills is essential. If you are able to code, you can still get some programming done even without a dedicated developer on hand. Even if you only know the theory, you can still plot out the kind of programs you need or want, or have the knowledge required to choose the best fit for your business from available open-source programs.

4. Evaluating Talent

Because of the resource scarcity many startups experience, the entrepreneur in charge will often be involved in evaluating and hiring new talent. You’ll need to be aware of the skills required to do well in whatever position you’re looking to fill, even if you yourself have never worked in a similar position before. This can be tricky for technical positions in particular. Whether you’re hiring a chief technology officer or you’re acting as the chief technology officer and hiring a developer, knowing how to code will help ensure you hire the best fit for the position.

5. Increasing Revenue Opportunities

An entrepreneur may start many businesses and projects in his or her lifetime. Therefore, it’s always a good idea to have a set of concrete skills at your disposal. This way, you can more easily find work and other ways to generate revenue when you’re between startups. If you know how to code, you can find many different kinds of work that could fit into an entrepreneur’s schedule. There are all kinds of freelance, contingent, part-time, full-time and short-term jobs available for someone who knows how to code.

6. Building Tech Relationships

Whether you’re the one coding at the start of your entrepreneurial endeavor or you’re working with a developer from the beginning, knowing about coding can help you build relationships in tech. If you know what kind of work coding entails, you’ll have a better grasp of budgets and timelines for various projects. You’ll also be able to communicate more effectively with developers and other players in the tech industry, which can be useful for both creative discussion and networking. You could take a break from your entrepreneurial projects and take on a contract position or pick up freelance work on the side while you continue working on your startup, for example.

Coding is a useful skill to learn, whether you think you’ll need to take an active role in developing your startup or small business’s code or you just want to find a way to broaden your horizons. Learning how to code can help you improve your entrepreneurial skills.