Sunday, June 26, 2011

Learning by doing

Are you putting off starting your company because you feel you don’t know enough?

Are you planning to do an MBA just so you know how to do business?

If you think like this, then you are normal. These are the kinds of things I hear all the time as reasons people use for putting off starting the business of their dreams.

The reality is that it is not possible to know everything you need to. You will make mistakes. You will disappoint some customers. You will make stupid decisions. Good people will quit on you. Some products will fail. Your marketing strategy will fail. And so on.

The key point here is that you will learn on the way.

The business plan you write now is really a piece of fiction that shows how you want the world to work.

As you do business, sell your product, get feedback, have failures, etc., you will learn.

When you are prepared to make mistakes and learn from them you are in the right mindset to start your business.

The key point is that you actually have to do something to learn if it will really work or not.

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