Founder of Kangaroo Security Maximus Yaney is more than a little familiar with the challenges budding entrepreneurs can face. That said, he’s succeeded building companies despite a lack of relevant experience because he also knows how to overcome those challenges.
That means his advice is valuable. If you have dreams of growing your company Forbes Hints,but you fear your limitations are holding you back, he offers these essential tips:
Know Your Advantages
Entrepreneur Maximus Yaney understands that many newcomers will naturally feel they’re at a disadvantage when competing with companies that are already established and profitable. However, it’s important to realize that those companies actually have key weaknesses yours won’t have.
Specifically, when a company remains profitable for years, its leaders become too comfortable, and aren’t willing to adapt to changing markets. You won’t fall prey to that mindset. You’ll appreciate the value of leveraging new innovations to offer a better version of existing products or services.
You can probably think of numerous examples illustrating this effect. Netflix killing Blockbuster is a popular one. A once-dominant brand is now a relic because a new company came along and used technology to reinvent the nature of the movie rental business.
As Founder and CEO of Kangaroo Security, Maximus Yaney is doing the same thing. He and his team are applying innovative thinking and the latest tech to offer the best affordable home security system. They understand that what may seem like a weakness — being new to the home security system market — is actually a strength.
Complacency at established companies doesn’t merely take the form of an unwillingness to use new technology or adapt to developing trends. It also involves never questioning certain ingrained assumptions.
Examples such as Tesla prove how entrepreneurs who ask questions can often develop solutions their competitors overlook. For instance, when Elon Musk and his team thought the batteries they would need for Tesla’s first cars were too expensive, instead of accepting the cost, they chose to isolate the individual components of the batteries and build their own.
Kangaroo’s CEO Maximus Yaney applies this type of “first-principles thinking” when developing ideas for products. For years, virtually everyone in the industry simply assumed home security cameras and the systems to which they belong needed to be complicated. By questioning such assumptions, CEO of Kangaroo Security Max Yaney created the best affordable home security system.
Developing the best home security system wasn’t necessarily an easy process. Don’t make the mistake of assuming entrepreneurs like Max Yaney CEO immediately succeed every time they start working on a project. Odds are good you’re going to fail when you develop your first iteration of an idea.
You need to accept this. Failure is unavoidable. It can also be beneficial. If you learn from your failures and apply these tips, you’ll be far more likely to turn your vision into a reality.
About Maximus Yaney
Prior to developing the best home security cameras and home security systems, Maximus Yaney co-founded such other successful ventures as Aerospace Titan. To learn more about his thoughts on succeeding as an entrepreneur, follow Maximus Yaney’s LinkedIn and Maximus Yaney’s Twitter..