It isn’t uncommon to come across two different types of thought when it comes to starting a business. One type says that you need copious amounts of experience and knowledge in order to flourish. The other says that you don’t need any of that - you just need a good idea to get ahead.
That got me thinking - can you really start a business with no experience? Is it actually possible to succeed when you aren’t fully equipped for the task in front of you? Here’s what I’ve found out.
#1 You Probably Have More Experience Than You Realize
Everything I’ve come across during my research has reiterated that experience is found in all sorts of areas. While you might not have accountancy experience, you might have benefited from people skills, for example. From what I’ve found, a lack of experience means that creating an idea in your niche is crucial. It’s also important to be confident in your abilities in those areas. You do have experience, even if you don’t think it’s all that relevant.
#2 There Are Opportunities For Those Who Lack In Certain Areas
Starting a business doesn’t have to mean doing all the difficult startup jobs that come with it. There are opportunities like freelancing that ease a potential business owner into the lifestyle. Also, franchising is a good way of creating your own business with constant assistance at hand.
#3 Experience Means Nothing Without A Good Idea
You might be the most well-equipped business mind in the country, but none of that matters if you don’t have a good idea. If a young mind with a lack of experience comes up with the next greatest thing in social media, they’re probably going to succeed. I mean, look at Mark Zuckerberg at Facebook! He wasn’t a genius business mind when he started, and he still flourished.
#4 Planning Ahead Is Crucial No Matter What
When you’re dealing with a lack of experience, you don’t want to be planning on the fly. Taking the time to think ahead before you go establishing the business is key. It will allow you to plan for any problems you may face, and give you goals to work towards. Then, you can deal with your lack of experience in relation to your overall intentions. It should make the initial few months easier to deal with.
#5 Failure Isn’t Necessarily A Bad Thing
In this article from The Guardian, Filipa Neto of Chic by Choice mentions the benefits of failing at a young age. “...if you are going to fail, you should fail fast, fail young (and start again). It’s never a real failure, it’s an important lesson.” It’s true, too. If you start young with little experience, you’ve got a whole lifetime to rectify your mistakes. Fail when you’re working to support a family, and you might just find yourself in a much more serious situation.
So, can it be done? With the right mindset and a well thought-out plan, it certainly can!
Lina Martinez has her B.S. in journalism and is a contributor to our politics, life and money pages. She once admitted over drinks to singing "Careless Whisper" in the shower. We are still trying to get her to sing it at karaoke.