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What is a Serial Entrepreneur?

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Tracing the path of success for an aspiring entrepreneur

Entrepreneurship emerging as the fastest prevalent trend all around the tech town has altered many shapes. It has taught new tips and tricks to the minds who were good at business and took a step to initiate their own identities. At the same time, it has contributed to making things easier for the entrepreneur at every step segregating the success from the conventional procedure.

Entrepreneurship in today’s world

Today, entrepreneurship is not just an act of setting up a specific business. It has turned into a plan of action that ensures people can change their lives. It is providing entrepreneurs with enormous opportunities based on their expertise in the field. There is no lack of business people belonging to different areas of life.

It is a norm to live by, a way to change lives. It has changed many lives in the past because of the opportunity it has provided others at their doorsteps. The only thing expected from them is the ability to make decisions that are right and can stand by the test of time. The strength which in this case becomes the emotional adaptability of an entrepreneur is a necessary trait to turn into an entrepreneur.

A story of success

There are many entrepreneurs who have worked hard and not only delivered quality at the end of their venture but have achieved acclaim because of their wickedness in the business field. They are the ones who are now regarded as the champions of this global world running this world at their fingertips because of the efficiency they carry at making and abiding by big decisions.

A lot of such entrepreneurs have made their place in the furious market by initiating a series of business ventures one after the other. They have this attribute attached to their name clearly that their initial success was based in some other field which later on turned into a grand corporation because of their sense of bringing innovation in the business market.

The secret to success

When you encounter the appraisal notes of entrepreneurship, you will often find many experts praising this kind of strategy. This is because they have efficiently planned everything serial-wise based on their step-by-step progress in the business world.

Often the business gurus regard such behavior as the quality dealing in the business world where an entrepreneur does not stop at the first level of success but often aspires to soar high in the skies of success within the business world. This makes them unbeatable consequently because they are experienced to take challenges within any specific field at the same pace.

Some serious questions

But what are these kinds of heroes of the business world actually called? Why are they so fast to respond to their success and make the most out of it as compared to the lower players of the market? What are the factors which promote them to enter into several entrepreneurship ventures instead of sticking to only a single one? What makes them different from the others in their sense of perception of the growing trends in the business world and responding to them in the most accurate ways and what are such kinds of entrepreneurs often regarded in the blog posts or news of the entrepreneurial world?

An intellectual answer

In this article, we will make a careful dissection of all these troubling questions which grab the young entrepreneurs who are double-minded about gaining success from the profit of the very first venture and then extending it further. So, grab your seat belts tight because the vibe will be taking you to the heights of professional success and a reputation of being regarded as a successful entrepreneur as compared to the other players of the market.

Serial Entrepreneur

A serial entrepreneur is one of us yet is the one who is different from us. This is because of his wisdom that has far-reaching consequences compared to a typical entrepreneur who just complies with the norms and limits himself to a single venture throughout the journey in the hope of making the most out of it.

A serial entrepreneur is the one who wants to try his approach in different fields which connect ultimately to each other one way or the other.

A serial entrepreneur is someone coming up with new strategies every single time so as to stick to them and initiate many successful business ventures out of one in a series.

A serial entrepreneur is often the one who does not find his place at a single destination but has the capability of modeling ideas that the initial strategies ultimately give birth to a corpus of different agendas and he follows all of them with the same zeal in the hope of conquering the business world.

What is unique about a serial entrepreneur?

It is the creativity that segregates a typical entrepreneur from a serial entrepreneur. They are creative enough to think about ventures which are not yet thought of by others or most often neglected in the race of being in the trends. This is why this negligent attitude of the others in the field gives them an advantage of availing the newest opportunity at the very first step as compared to others.

They know that they are not a part of the horse race but they have an identity that makes them unique from the others based on their creativity and they want to continue this unique identity at every level.

This belief is what actually supports many of their decisions and makes them reach the top of ladders in every market because they have this ideology of achieving perfection through creation.

How can I be a serial entrepreneur?

There is no rocket science in being a serial entrepreneur but you need to focus on your creativity the most because this is what will actually grant your success in the field. If an entrepreneur lacks enough ideas to reproduce into an existing reality that can change many lives, he can never turn out to be a desirable entrepreneur compared to the others.

Ideal Traits of a serial entrepreneur

We have summed up some of the ideal traits a serial entrepreneur possesses and which ensures the success of his venture later on. So, pick your glasses up on your nose and focus on what the experienced entrepreneurs have done in the past and are still doing to remain at the top despite the ever-growing pressure from their rivals.

  • They are hardworking.
  • They are innovative.
  • They have specific business plans in mind.
  • They analyze their business thoroughly.
  • They have the perfect kind of team to turn their dreams into a reality.
  • They have enough capital to invest in the new ventures.
  • They are wise enough to make the right kind of investment.
  • They create resources.
  • Money is not their only priority.

Hard work

Hard work is considered as the foundation of anything which you want to achieve. It is always believed that when dreams are big, you have to work even harder to turn them on the pages of history as an existing fact. Serial entrepreneurs know this. They know that their dreams are too big to be achieved merely through fortune and capital.

Therefore, they work hard enough to achieve success in whatever they plant. These entrepreneurs are somehow like farmers who grow crops with the effort involving their flesh and blood. These entrepreneurs too work for long hours because the ventures are so many and the pressure is a lot.

They know that they can handle any pressurizing situation because of their hard work. Hence, these entrepreneurs often respond to the rival’s criticism with their efforts which are grand and matchless at the end.

Don’t you wonder how Tesla became one of the fastest-growing industries in the world who eventually shook hands with America’s space agency NASA, to give birth to a venture like “SpaceX”? It is solely because of the efforts of Elon Musk who himself claimed that he works for about twenty hours a day just for the sake of fulfilling his dreams which he has regarding space and the future of this world.

Innovation

Innovation is the prime principle of being a serial entrepreneur. After all, not everyone can be creative enough to create plans which define them and the business genius. Many of the top entrepreneurs initially came up with the idea that was striking enough to win many hearts at the same time and changed the future of this world completely forever. With time, it grew into something grand which became irresistible.

Innovation comes from the mentality of gaining success.

An entrepreneur who recognizes the uniqueness present in himself is the one who does miracles later on practical grounds. It is very important for an entrepreneur to never let your inner uniqueness die. Every entrepreneur is unique from the other. All it takes is the impactful recognition of one’s inner potential which counts at the success grounds.

Today we all go mad for Facebook or Instagram internships and are amused at the capital gained by the Facebook Corporation. But have we ever considered the fact that it was not always like this and once it was just a creative idea that was propagating in the mind of Mark Zuckerberg eventually leading to its rule over the cyber world.

Business Plans

Who is an entrepreneur without a specific business plan? Every entrepreneur has a specific business plan in mind the moment he makes his entry into the business world. The only difference between a typical and a serial entrepreneur is the difference within their business plans which decides the ultimate faith of both.

A typical entrepreneur has one single business plan which aims at garnering success in that very project only. However, a serial entrepreneur makes a plan which has far-reaching consequences.
Here the plan not only seeks the benefits of the individual venture but makes sure that all other future plans might benefit from the original venture.

Every single business plan on his part is unique from the other one because of the creativity of the entrepreneur.

A serial entrepreneur is well aware of the fact that if all business plans are similar to each other in terms of their audience choice and application, then the efforts are useless. Hence, every single plan is unique from the last one so that in the end his aim of satisfying the clientele as well as garnering the attention of the mainstream players of the market gets successful.

Business Analysis

No entrepreneur is foolish enough to start a new venture without evaluating the conditions of the earlier one. A serial entrepreneur is wise enough to carry a side-by-side analysis of every single venture so that if the growth does not reach the peak estimated by him, immediate efforts could be made.

You learn that when you have to set up a new startup, the first and foremost effort is to look at the prevailing financial situation of your business venture which you have already set up. If you find that the growth is not as welcoming for the new venture, you need to work on the earlier one only till the time it gets at the peak of your estimated growth.

Once you are content with the settlement of your previous business ventures, only then go for the new ones.

Stepping into new ventures before making the original start-ups successful can become extremely risky for you financially as well as can be a threat to your reputation in the market as well.

An ideal team

Think about all the greatest ventures of the business world that gained immediate recognition in the business world. It was not just the alluring idea of the entrepreneur which became a reason for their success at the mainstream market in the eyes of clients but it was possible because of a powerful team that shaped the venture into reality.

You need to know that as a sound serial entrepreneur you need the presence of a team that is very effective in terms of providing collaboration towards your idea.

A good team is the one that understands your requirements, mission, and overall goal ultimately providing you the results which are in accordance with your idea. It is necessary that you constitute your team wisely because ultimately it has to take responsibility for many of the greatest ventures initiated by you. Assign the roles to your team members based on the skills possessed by them and the most important thing is consistency.

A good team is one that is consistent and values those who are skillful.

An entrepreneur who rotates the duties now and then can never get a perfect team because there might occur a lack of cooperation and understanding among the team members. It is therefore essential that your team is a constant unit, not a segregated structure performing individual tasks on its own without having enough cooperation.

Capital

No entrepreneurial venture can take place without the support of enough capital. You must make an estimate about the venture initially and then look for the capital needed. You need to know that it becomes your prime duty to arrange the capital at the very beginning of the venture to escape any possible financial risk in the near or far future.

It is also important for you to understand that if you don’t have enough capital to invest in the venture, do not go for it until you have arranged some measures to make it happen.

You can rather focus on your initial venture to get more profit out of it to invest in future ventures later on. You must have seen that even the biggest companies who have already made their name in the business world are even reluctant to invest in a project without getting the in-depth details about the amount they are needed to invest and all the possible pros and cons of putting their stakes high at either cracking or initiating a specific need.

Even if you are taking a loan under a specific scheme, you need to prepare yourself for the possible conditions you have to abide by to get the loan. So, a wise decision at the beginning can save you from humiliation in the future.

Wisdom to make the right kind of investment

A good entrepreneur is one who senses good opportunities from a far and on the basis of these opportunities, he makes a decision of investment. Often, a mediocre entrepreneur comes with an idea so enchanting and attractive that it becomes difficult for the bigger names to invest in the project because of their business knowledge.

They know that the few bucks which they are investing in the project today will return to them a few million or billion bucks as the end profit. Hence, they are very selective to curate the unique business plans and select within them.

This kind of attitude is necessary for an entrepreneur because you have to look for a number of things before thinking of the investment.

The bigger companies know this fact that when they are investing in a specific business plan, it is not just the capital that is at stake but their business reputation is also at the stake which can fall briskly with just one single mistake. Therefore, they are careful enough to invest in the right kind of ventures which enhances their success and place in the business world.

Resource creation

Ever read about the mantra of the champions of the real world. They believe in not looking up for the right kind of opportunities but believe that if the opportunity is not present, then create one for yourself by sheer effort. This is exactly the ideal philosophy of the champions of the business world.

They believe in creating their supremacy by their work, by the efforts they do to achieve success at the end of their specific venture.

These are the people who know that there are always difficulties waiting for them at the other side of the turn, yet they are not afraid of facing them because they know that if they become afraid of these difficulties once, then their goal will be left unaccomplished which is unbearable for them.

So, their focus is not only on the business plan they create but in their hindsight they always keep a close check over the number of opportunities available for them which can, later on, decide the future.

If somehow, they find that the tide is turning up against them, they have the stamina to face it and deal with the tide in their own way which decides their success.

Shifting priority away from money

Many of the entrepreneurs who enter into this world have just one goal. Whenever asked about their choice of being an entrepreneur. Their answer always stops somewhere around “making enough money to change their living standards”. This is what makes them ordinary despite all their efforts to achieve success. They can never become unique ones.

A true entrepreneur is the one who knows that money can change living standards but a true business plan can change the world forever.

Therefore, they are not behind money because they know that the success earned through money is usually short-lived but the success through an unthinkable and unimaginable business plan will keep them eternally at the top when the history of those who contributed for a change.

This is why most of the entrepreneurs today who are bringing out a change in the real world with the help of their ideas are the ones who wish to bring a change with their concepts.

Final Thoughts

As hard as it seems to be a serial entrepreneur, it is actually easy. With utmost zeal to work for the end goal of finding out success within your business plans, you can understand the conditions which are necessary for being out of the ordinary and among the few game-changers.

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The author is an M.Phil scholar conducting her thesis in Literature. As a sucker for literature, she swoons over Greek and South Asian fiction while reviewing books in her spare time. Her love for writing has made her expand her subject matter and now she pens her opinions frequently on finance, lifestyle, history, and literature. For a special connection with entrepreneurship, she opens up the details occasionally about it.

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