Is it practical to start a Company with zero Business knowledge?

Image credit: LinkedIn Sales Solutions

No, it’s not practical. But can it be done? Absolutely!

Starting a business these days is a daunting task, but it’s not because the logistics are difficult. The difficulty comes from competing with other businesses and trying to find a place for yourself in an industry that is full of competition. Other difficulties come from personal struggles such as finding the motivation to start a company and staying mentally fit so you can overcome all of the challenges ahead of you.

So if you’re looking to start a business of your own but have no idea where to begin, then we’ve got a few tips to help you. It’s mostly about changing your mindset and being as resourceful as you can, so you don’t need to have prior knowledge to succeed.

The majority of your knowledge and skill will come from first-hand experience
Don’t underestimate just how important it is to actually do something in order to learn from it. Practical experience is a fast-track way to learn new skills and it’s far more efficient than trying to learn in a classroom and then apply all of that knowledge to what you do. Nothing can prepare you for the unpredictable nature of running a business.

With that said, marketing courses and other similar qualifications are fantastic for helping you learn more about business and will give you a basic understanding of important concepts. However, beyond that, there’s really nothing as good as learning on the job. Learn what you need to get started, then invest the rest of your time and effort into running your business and learning as you go. You’re going to make mistakes and you’ll fail a few times, but learning from those experiences is extremely valuable.

It's okay to ask for help
Whether you have experience of setting up a business or not, one thing that differentiates "successful" people in the business world from others is their willingness to admit they need help along the way.

For example, if you know nothing about setting up a website, it's better to work with a web design company and have them create a site that brings in the customers instead of building something mediocre that everyone will loathe!

Take advantage of the skills that you have alreadyIf you’re going to start a business then it’s usually best to begin with something that you have a bit of experience in. Even if you don’t have business knowledge, having some expertise in something will make starting a company around it much easier. While you don’t need to be an expert in a particular feed, it does help if you’ve got a bit of professional knowledge. However, if all you have is a passion to do something, then that’s better than starting completely from scratch.

For example, if you’re interested in using your DIY skills to start a business, then you should consider trying to run a business that relates to things like workshop hardware or even starting your own contracting firm. This will save you a huge amount of time and will make sure that your ideas and concepts are more realistic because you have experience in the field.

So to conclude, starting a business with zero knowledge isn’t impossible, but it’s much better if you have at least a bit of experience with the sector that you plan to join. But if you don’t have much knowledge, you shouldn’t worry too much as you’ll learn most of what you need on the job, and then you can study to complement your first-hand experiences.