Wednesday, December 14, 2011

How Inexperience Can Be Your Advantage

Many people can easily become overwhelmed when it comes to approaching banks and other potential investors in your new start-up, especially when it's in an area that you're unfamiliar with. There are several examples where inexperience was not a liability: Facebook, Virgin, and Apple to name just three. All three were started by young inexperienced kids who had nothing more than desire and a good idea. (Read more about the beginnings of Facebook by reading "Why Did Facebook Become So Popular?")

Being inexperienced in your target industry gives you the advantage because you are not restrained by what other business veterans in your niche may consider impossible. You also don't have a set mindset on how things should work. By not having these mental barriers in place allows you more freedom to explore new possibilities and enter new markets.

Another reason why inexperience can be beneficial to you is that your inexperience will allow you to get more creative in your business. You're not fixed on what others are doing, how they're marketing, or how you can differentiate yourself because well, you'll naturally be unique! By naturally being unique, consumers will inherently be drawn to your business and what you have to offer.

This post is not suggesting that you should avoid doing or ignore the results of your market research, or refrain from learning all you can about your industry. What I'm saying is to not let inexperience hold you back. Go for it! You'll be surprised by what you can accomplish.
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