The more experience you have in your industry, the more you know about the products, services, competitors, suppliers, channels of distribution, customers, and opportunities. The less you know about your industry, the more you have to learn things through trial and error, just like we did with our motorhome. And with limited experience, you often burn through your passion, tenacity, relationships, and money before you gain traction. You can only survive so many crashes on White Bird Hill before you self-destruct and become a statistic in the business failure column. Hence, the more you build on what you already know from your own experience, the greater your probability for success.
Below is an example of an entrepreneur utilizing his expertise of an industry to launch a company, followed up by useful tips for aspiring entrepreneurs about leveraging their own knowledge.
