As opposed to a typical entrepreneur, who will often come up with a single idea, start the company, then see it through and play an important role in the day-to-day functioning of the company.
A serial entrepreneur will often come up with an idea and get things started, but then give responsibility to someone else and move on to a new idea and a new venture. Here are a few indispensable tools to help anyone out there with the same tendencies.
- Work with people and partners.
Partner up with someone who has been doing the same thing on a much smaller scale. A good entrepreneur will do well in any business once he has the right people around him, either as partners or employees. You hold on to your knowledge of business and work with people of skill in the areas of your interest.
- Pay others and utilize platforms.
The internet revolution has created a lot of ease within different industries. Platforms and freelancers are now fast becoming the norm, especially in areas like marketing and social media management.
- Prepare for surprises and develop a thick skin.
Starting a new business can be draining, It implies getting into uncharted territory. You will learn that while asking questions they will never reveal the full extent of the unique challenges that you are going to face.
- Do different things or do things differently.
If you are going to start a new business, you need to make sure you make a statement. The thing with ideas is that no one really owns them. Every serial entrepreneur has to deal with some level of divided focus; you need to make sure that it is over something worth it and not something too familiar.
- Create firm structures to maintain focus.
Delegation is the number one strategy for success in serial entrepreneurship. Find people you trust, or learn to trust the people you have. Find people with similar values and drive, and give them a chance to flounder and learn.
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