There is a lot more to the tech industry than we realize. There are many opportunities to explore in the industry and many misconceptions to dispel; there are also some dynamics to understand, the knowledge of which can help you make smart investments in the tech industry. Here are five things you should know about the tech industry.
1) The Industry is Not all About Coding
The tech industry consists of a lot more than coding. There are lots of jobs and technical skills available in the tech industry aside coding and programming, some of which include: design, data analysis, setting up systems and processes, project management, technical writing, web hosting and so on.
2) Proficiency in Coding Does Not Depend on How Good You are at Math or Science
Coding is about problem solving and logic, and you will find that some of the best coders admit to not being good at or even liking math or science. In fact, coding is easier learned by those coming from backgrounds or professions where problem-solving skills, as well as attention to detail, are involved.
3) There is Room for Creativity
Most people associate technical jobs like those in the tech industry, with a lack of creativity. However, the tech industry is all about finding creative ways to solve the world’s tech problems. Aside the data science field in the tech industry, there is also a design field that relies on creativity to come up with attractive phone and laptop designs, as well as website designs and other tech designs we see.
4) The Tech Industry is Not Entirely Male Dominated
It is true that a large percentage of the tech industry is made up of men, but the industry is not completely male dominated. For example, the data science field of the tech industry is mostly made up of men, but the design fields have a larger percentage of women. As much as there might be a lot of men in the tech industry, there is still room for women who are passionate about tech.
5) Profit Margins Really Matter
In the tech industry, competition tends to be fierce and this makes it difficult for companies to maintain their profit margins over the long term. This can lead to disastrous results for investors, as a result investors are very particular about profit margins. Therefore, before buying stocks in the tech industry, investors carefully consider if the company will be able to maintain its pricing power over the long term.