Without experience you WILL fail. 99% guaranteed ?

[Southern_Lenders]

Most of the successful Entrepreneurs I read about had some type of previous experience in the field or a related field prior to starting their Company. We hear these stories about people who started a business with "no money" and built these empires, and all of a sudden have 100 million dollars. Its like "Oh Joe the business man has a great idea, but he had no money, now 10 years later he sold his company for 60 mill..EVEN YOU can be just like Joe!"... These stories arnt so inspirational anymore when you discover that:

1) Joe is a genius, and has an IQ of 180, and started his first business when he was 2. At 14 he graduated High School with Honors, and now attends MIT's PHD degree in Math and Science. He now works for a major Wall St Hedge fund making 10 large a year.

2) Joe has a friend, mentor, or family member that A) Gave him money B) shared their knowledge/ experience with him.

3) Joe is the son of a successful wealthly family. Success was just a matter of time.

4) Joe has no money, but has a great idea, and just so happens to meet the right people at the right time. Nothing but pure luck at play.

John Paul DeJoria of John Paul Mitchell systems --> Previous experience in management at redkin skin care products. Mr. Dejoria got lucky and met Paul Mitchell (a famous hair stylist), and the two went into business.

Gary Heavin of Curves --> He AND his wife went into business together for 10,000, but his wife had extensive knowledge in marketing to help promote the curves brand, and Gary previously owned a fitness center when he was younger.

Linda Alvarado of Alvarado Construction --> Extensive experience in Construction before launching her company. Family gave her money to start.

so on and so on...

I would like to hear from people on YE that had NO previous experience in the buisiness you now run, no help from friends, family, mentors, or anyone that just got lucky.

[KyleXY]

Hope this helps:

1] I dropped out of college. Was never the studious type.

2] Both my parents never graduated high school. As a result, I didn't get much help with anything growing up education and monetary wise. I never had any successful mentors that taught me anything and never had any awesome connections to make things happen. Just the typical average poor life really.

3] I come from a very poor family background and that might be an understatement. Both my parents worked minimum wage jobs their whole lives and struggle with lots of debt and horrendous credit.

4] I didn't have a lot of money and when you factor in the debt I had (student loans and credit cards), I was at a negative net worth. I had an idea but it wasn't great. I was relatively new to the field and had no background experience. I didn't just happen to meet the right people at the right time. I struggled to make stuff happen. It was my first ever startup so no prior startup experience either. Two years in, my company was doing over $1M in gross revenue a month with a dozen employees, and got acquired in a multi-million dollar deal. Along the way I did meet wonderful mentors and friends who were of great help, but again, I had to make that happen. It wasn't simply a matter of being lucky or being in the right place at the right time. It was a lot of hard work and an amazing learning experience for me.

5] Now I'm struggling with a new idea I can work with but haven't found something I can be passionate about.

Hope this meets what you were looking for.

[ciaossu]

I fall in the same boat. If you read my blog previously, practically ever business I ever started were a new field. I didn't have connections or mentors or any of that stuff. Albiet I did have money but it was money I made myself so I never got financial assistance from anyone. So at the very least that should give you some relative idea.

[Southern_Lenders]

Kyle, whats the idea if you don't mind sharing? I'm an idea-cranking machine always looking to collaborate.

[KyleXY]

Hi Southern,

At the moment I haven't come up with a new one yet. I'm still in the thinking process where I'm just exploring random ideas but nothing really sticks or is serious. More or less I'm still trying to find an idea I would enjoy pursuing.