Myth 2: You Need Experience

Lack of experience should not stop you from staking your claim. Again, it’s about clarity, vision, discipline and commitment. And it’s about understanding where your talents lie. I would argue you can overcome for a lack of experience a few ways:

-A full-blown business plan. Taking the time to develop a business description, financial projections and a competitive market analysis will help compensate for concerns about experience. The Small Business Administation website sba.gov offers tips on how to craft your business plan.

-Hire experience: Show a potential investor that you have recruited an experienced salesperson, a skilled marketer, an accountant with startup experience, and other key managers. Also showcase your list of your outside experts and company advisors, such as an attorney, business coach or retired professionals who have experience in the business, who can supply professional guidance.

-Leverage Your Relationships: Think about who you have access to who can supply expertise and support, or become your first clients. Your network is probably much larger than you think, particularly if you use Facebook, LinkedIn, and other social networking sites.

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