How To Be A Serial Entrepreneur
To start one business is not easy, how much more a hundred?
This is what comes to mind when you think of entrepreneurs like Mark Zuckerberg, Elon Musk, Richard Branson, and the like.
Richard Branson is one you can call a serial entrepreneur having owned a group known as Virgin Group which used to have over 200 companies. Now the group has an interest in more than 60 companies with 46 using the Virgin name.
A few others include the Samwer brothers and Wayne Huizenga — early investors in Facebook who have sold several multi-million dollar companies, and Wayne who owns three sports teams and nine successful other companies respectively.
A serial entrepreneur is always coming up with different ideas for new businesses, executing them, delegating leadership roles to others, and then moving on to the next.
Who is a Serial Entrepreneur?
A serial entrepreneur is someone who runs various businesses at the same time.
This kind of entrepreneur is always coming up with different ideas for new businesses, executing them, delegating leadership roles to others, and then moving on to the next.
Serial Entrepreneurs are mostly known for being an expert at identifying new business ideas, creating a vision for the company, and being problem solvers.
They are most excited in the early stages of a start-up and have a strong risk appetite. They often invest in new start-ups and have a strong understanding of the market. This entrepreneurship requires a delicate skill set.
To serial entrepreneurs, financial losses are payments to learn a new course or class that can better their lives and create a new future.
Characteristics of a Serial Entrepreneur
1. Be ready to take risks
To be a serial entrepreneur, you must be ready to take risks. Some include sacrificing family and friends, and even dropping out of school.
A few others have sacrificed financial stability – spending millions of naira on projects or start-ups, that never even boomed.
To serial entrepreneurs, these financial losses are payments to learn a new course or class that can better their lives and create a new future.
2. Passion for what you do
A serial entrepreneur is a die-hard fan of what he/she does regardless of what the outcome of the project is. Many companies these days started with a dream or idea that someone had.
Having the enthusiasm to keep pushing and going forward even on bad days, is very important because, amidst all these, there are hundreds and thousands of new and young entrepreneurs, who draw strength from you.
3. Learn lessons from your mistakes
Being able to learn from your mistakes is one skill you must have to be a successful serial entrepreneur. Learning from your mistakes gives you an edge going forward in business.
As a serial entrepreneur, it is okay to make mistakes, but making sure to avoid those mistakes going forward is what is most important.
4. You need a lot of patience
Patience is a virtue. Building a multi-international business or industry does not happen overnight. You need to be patient with yourself and put in the work.
Most successful serial entrepreneurs are not in a hurry because they have a good idea of what the result is supposed to look like.
This is most times because they are passionate about what they want and are willing to get to the end.
5. Ability to network
To be a successful serial entrepreneur, you need to work on your ability to network. You have to be on the lookout for other successful entrepreneurs, learn from them, open yourself to criticism, and there will be room for improvement.
If need be, you can get a mentor, one who has gone down the same lane you are about to, and is quite successful. Surround yourself with competent people, mostly people in marketing, finance, and law, because you would need it.
Place yourself among goal-driven people, who know what they want, and won’t stop until they get what it is they want.
How To Be A Serial Entrepreneur
1. Uncover your inner strength
Your inner strength comes from an unshakable conviction that you must have made about your goals and dreams—understanding that you are on the right path, regardless of what happens on the way.
2. Have a strong vision
You cannot possibly exercise being a successful serial entrepreneur without having a clear vision. Many times serial entrepreneurs have a clear direction of where they are heading and can tell when a particular business does not serve the purpose for which it is needed.
3. Develop a growth mindset
Running a business with a growth mindset is the key to being a successful serial entrepreneur. It helps you to understand that life is happening for you, and not to you, so you can take those losses as opportunities to do better.
4. Discover your inner creativity
It is often believed that creativity has to do with things like art, writing, etc. But creativity can also be inculcated into your ideas and business rules. Creativity is an important part of leadership. Your uniqueness is what defines you from the others.
5. Join the right community
It is believed that serial entrepreneurs are very well-driven, have high tolerance, and are focused set of individuals. To acquire skills like these, you need to be in the circle of these people. Place yourself among goal-driven people, who know what they want, and won’t stop until they get what it is they want.
Conclusion
Serial Entrepreneurs are considered to be so, because of their determination and sense of responsibility. They display a large amount of inclusiveness in what they do and go through with it, till they attain the particular result that they want.
So, do you have what it takes? Do you have determination, passion, and grit? Are you willing to go through the process?
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