NeoDialectic
Successfully Exited the Rat Race
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You can argue what you "technically need" (or lack thereof) till the cows come home. I dont think anyone here will disagree.I completely disagree.
You don't need industry knowledge or a job to see where there are problems.
MJ described it himself in TMF that you don't necessarily have to reinvent the wheel. That's one of the parts in the book that I didn't really understand until I read it a second time. I agree with you that industry knowledge can certainly be helpful, but in the meantime I am of the opinion that you can start your own business without any industry knowledge at all. Why?
Because - and I'm speaking from personal experience here - there are so many objectively bad products (whether physical or digital) that there is a lot of potential here alone. I'm starting from my own area (SaaS), where I've analyzed quite a few potential competitors, in an area where I have 0 practical experience. It was shocking how much potential for improvement I found that had absolutely 0 to do with the actual industry (better functionality, larger feature set, better/faster customer support, generally better user experience, etc.) But for that I need 0 industry experience, but "only" development experience or basic know-how of UI/UX. But in my case it would be more than an overkill and from my point of view also a bit waste of time, if I would work in this area now also as an employee.
If you are completely disoriented you can argue in my opinion, but even then you could always orient yourself to existing, poorly implemented business implementations and improve them. You don't necessarily have to have worked in the field. I even dare to go so far as to say that what MJ did with his Lead Gen site could have worked even without his background knowledge. Reason: Many of the core functionalities are very developer-driven at the time and require a high level of online marketing know-how. Not necessarily something where you had to work as a limo driver for a few years before, right? But I still think that may have benefited him, but that certainly didn't account for his overall success. I would be interested in MJ's personal opinion on this. Since this is now purely my assumption.
Then there is real life and how things actually typically play out.
MJ could have just picked a limo lead gen service out of a hat. But he didn't, did he. Coincidence? Coincidence that so many successful businesses were made by entrepreneurs that were in an industry?
There are plenty of people that have made fortunes with nothing more than the clothes on their back and a good attitude. But your stacking the odds that much more against you.
Don't get me wrong....don't limit yourself to thinking you need industry experience. @Kak wouldn't let us pass off limiting beliefs on the forum unopposed! I didnt have industry experience in any of the businesses I've been in! My how-to post also stresses that you don't need it. If you've got an idea and the motivation to learn to make it happen, good for you! Yet one of the most common questions from beginners is "I dont have any special skills and don't know what to do".
Im not sure where you are on your journey, but things don't always start making you millions during your first month. How are you gonna pay for your rent in the meantime while you're finding holes in others SAAS businesses to capitalize on? If you have little skills, little life experience and don't know what to do..... getting a job and/or school while working on something of your own is a good option! That's all we are saying!
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