Why Entrepreneurs Don’t Need a Track Record to Succeed

Why Entrepreneurs Don’t Need a Track Record to Succeed

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As an entrepreneur, I see the world a bit differently. Since I’ve never had a full-time job or received much training at my part-time work, I’ve always gone with my gut on how certain tasks should be approached.

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While experience has its benefits, in my experience, inexperience can lead to innovation and out-of-the-box thinking. That’s how I approached my idea for Valuation App, a mobile app for financial analysis. I didn’t have the money or the marketing resources to get an app built and promoted, so I used crowdfunding as a means to finance it. Using just a deck, I raised money from 57 people to crowdfund the app’s expenses. I requested $11 from each person and raised close to $4,000. And it worked – the app is now available on Android and iOS, and even led to my next venture.

I didn’t know how things traditionally worked, but that only contributed to my spirit of adventure and willingness to tackle situations according to my own inherent logic. I never thought: “but this isn’t how it’s done.” Instead, I approached every problem with a fresh perspective that allowed me to accomplish exactly what I set out to do. I was able to cultivate this mindset by doing the following:

  • Not being too stuck on how the world traditionally functions;
  • Approaching situations the way a child would – without pre-conceived notions;
  • Considering all possibilities and discounting nothing.

Even better, this approach helped me earn credibility as someone who could hustle, stay persistent and be innovative.

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Sohin Shah is an angel investor and a mentor to startups who can be reached at www.sohinshah.com. In 2012, he successfully crowdfunded Valuation App with 57 backers and went on to pioneer real estate crowdfunding.

BusinessCollective, launched in partnership with Citi, is a virtual mentorship program powered by North America’s most ambitious young thought leaders, entrepreneurs, executives and small business owners.