Don’t be afraid to explore foreign territory. We asked successful young entrepreneurs for their most poignant pieces of advice for founders starting up in an unfamiliar industry.
The Young Entrepreneur Council asked 13 successful young entrepreneurs for their best tips for starting a new business in an unfamiliar industry. Here are their best answers.
1. Don’t be afraid to ask questions
If you’re new to an industry, don’t cower at networking events or do the “smile-and-nod” when you’re speaking to someone with deep industry expertise. Instead, use every interaction as an opportunity to learn. People will be excited to answer your questions–while you may worry that your queries will come off as ignorant, most likely, the other person will interpret them as engaged interest! —Doreen Bloch, Poshly
2. Study Top Direct Response Advertisers
Find the top direct response advertisers-the companies spending money every month-in your industry and study their ad copy. Respond to the ads and document their entire sales process. The top advertisers have already figured out the best method(s) to generate leads and sales and maximise lifetime value, so start with what’s working for them.
—Phil Frost, Main Street ROI
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