Experience And Business

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Although a lot of people might argue that experience isn't enough to start a business, it really is an important fact if you ever intend to be successful. Just like the saying "experience is the best teacher there are many exposures and lessons that come as a result of experiences one has gathered over years in a business.

For example with experience you understand the market better unlike someone who has never been in that field before. Having experience means you understand the market, the trends and the changes that have occurred in the industry over the years. With this you can predict the market, factors that affect the industry as we as the industry better. These experiences would have shaped your reasoning which will make you an expert and help you make better decisions in the industry because with years of experience you have acquired the required skill set both on the creative and business level. This is one factor that will help your business soar higher and be the best among the competition because not only will you know the market better but this will help you be more innovative in your business ideas unlike a newbie that doesn't really know or understand how the market works. These ideas have higher chances of doing better in the industry and taking your business to the next level.

Having experience would also save you time and help you waste less resources. As a result of the experience you have gained over years working in a particular industry you can tell better what your business needs to succeed in the industry. This would save you from unnecessary expenses as well as help you focus your resources on the more important ones, it would also help cut down on time that would have been spent making mistakes for example if a newbie takes 5-10years in getting their business on its feet it would take even shorter time and with lesser resources for your business. Although mistakes are certain in every business they would not be as bad as a newbie and this also implies that your business will grow faster.

Another advantage of having experience In a particular field of business is the fact that you make lesser losses. As a result of years of experience and knowledge that you have gathered the probability of you making costly mistake will be low and even if you did make them they would be ones easier to bounce back from. Mistakes that would have cost you your entire capital is reduced to a bare minimum because you know the right steps to take , the right market to invest or when exactly to pull out. Not having these experiences could have cost a newbie their capital and plunged them into debts.

But on the other hand, not having experience doesn't mean you should give up on that business idea you have because although it might take you a longer while to reach your goals you would eventually reach them. You can get experiences from internships, volunteering at different businesses or getting a job with a business similar to one you hope to build in the future.