My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
Back to Beliefs
Industry expertise can be a disadvantage when creating breakthrough customer experiences
Evidence
Outsiders like Jesse Cole and Steve Jobs created breakthrough experiences in industries they didn't come from, while industry veterans often defend status quo
Implication
Beginner's mind and customer empathy may be more valuable than industry knowledge for innovation
Counter Belief
Industry expertise prevents costly mistakes and provides knowledge of what really works
Example Application
Former customer service rep with no restaurant experience opens restaurant focused on eliminating common customer frustrations, outperforming chef-owned establishments