The journey of an entrepreneur is significantly challenging. Additionally, it’s more difficult for a serial entrepreneur because of the added responsibilities of multiple businesses. From attending a number of business conferences to meeting deadlines, it’s extremely tough to manage various businesses simultaneously.
In this guide, I have compiled a list of the most successful serial entrepreneurs who have built multiple businesses in less time. Additionally, I have also shared what skills and traits you need to develop to become a serial entrepreneur.
Traits Of A Serial Entrepreneur
If you want to become a serial entrepreneur, you should develop some essential skills to manage multiple businesses.
Excellent Time Management
Time management is one of the most important factors for entrepreneurs. It’s more important for serial entrepreneurs because they are involved in multiple businesses. Since you will be responsible for managing different businesses at a time, it’s crucial to be efficient.
For that, you need to develop insights into how to adopt the changes, figure out business ideas, and manage other responsibilities within the stipulated time. You cannot achieve your objective by working hard, but you need to be smarter.
Ability To Set Concrete Goals
Although setting clear goals is crucial for success in everything, you need to be more specific and set measurable goals as a serial entrepreneur. Since you will start another company once your present company is up, you need to have clear and specific goals.
If you are unable to set concrete goals, it’s hard to track your progress, and you cannot manage multiple businesses simultaneously. When you have clear and concrete goals, you can measure your outcomes and plan for your future.
You cannot handle multiple businesses if you become rigid to changes. You should be flexible and adapt to the changes. Since the marketplace will change without giving you a warning, you need to be able to adopt the changes.
Apart from that, technologies also change every day. As a serial entrepreneur, you need to come to update your technological infrastructure and adopt new ideas to keep in line with the market demand.
Optimistic And Curiosity
A serial entrepreneur knows that every idea will not lead to success. So, you need to figure out why something didn’t work and learn from your mistakes instead of worrying about the failure. Having an optimistic spirit is crucial for business success.
Additionally, serial entrepreneurs are always eager to learn new things, test new ideas, and experiment even if they fail a hundred times. You need to be curious and creative to bring innovative solutions to the world.
These are some essential traits of serial entrepreneurs. However, these are not the complete list of characters or skills of a serial entrepreneur. Apart from these, you need to have high risk-taking ability and a lot of other skills.
Top Five Serial Entrepreneurs
To encourage you, here I have listed the top five entrepreneurs who have ventured into multiple businesses.
1. Elon Musk
You must have heard the name of the electric car company Tesla. Elon Musk is the founder of this luxurious car company. Apart from Tesla, he also ventured into many other revolutionary businesses; SpaceX, SolarCity, The Boring Company.
From a very young age, he had an entrepreneurial spirit, and he developed video games. He also had a digital media company and a founding member of the popular payment processing network PayPal.
2. Sir Richard Branson
Sir Richard Branson is one of the top serial entrepreneurs who started his journey from an early age. He founded the popular print magazine named ‘Student’. After that, he also founded the Virgin group of companies which was started as a voice recording service.
Later the Virgin group ventured into different industries, including travel, beverages, etc. Sir Richard Branson remained as one of the top serial entrepreneurs in the world.
3. Oprah Winfrey
I guess you must have heard the popular Oprah Show. Oprah Winfrey became one of the most popular female entrepreneurs in the TV show industry, from TV series anchor to having her own production house.
Along with that, she founded a media company named Oxygen media and several other print magazine companies. She is a philanthropist and also the author of several books on health, food, wisdom, etc.
4. Gary Vaynerchuk
Gary Vaynerchuck is one of the top internet entrepreneurs who ventured into multiple online businesses. He is the founder of the popular media and communication company VaynerX. Apart from this, he also has several online businesses.
From selling baseball cards to becoming the owner of multiple businesses, his journey is a true inspiration for youth. He is also the author of some popular books on digital entrepreneurship, marketing, social media, and more.
5. Wayne Huizenga
The list will be incomplete without the founder of the company Waste Management Inc. Wayne Huizenga passed away in the year 2018, but I have mentioned his name because he founded multiple companies even at his old age.
Apart from Waste Management Inc., he was also the founder of AutoNation and co-founded Blockbuster and the sports company Miami Dolphins. From selling used trucks to becoming the founder of multiple companies, Wayne Huizenga proved, ‘age is not a determining factor for starting a company.’
Want To Become A Serial Entrepreneur?
Becoming a serial entrepreneur is not everyone’s cup of tea. Everybody cannot become successful in this journey. Most people will quit along the way or just give up on their dreams. Anyway, if you want it badly, you need to.
- Develop a mindset to accept failure and don’t take them personally.
- Don’t fear to take risks and do things differently.
- Time management is crucial, and you need to delegate your work properly.
- Work with partners, don’t assume that you can handle everything.
- Leverage the power of the gig economy.
These are some general tips to dip your toe in multiple businesses at a time. Usually, serial entrepreneurs are considered as the jack of all trades and master of none. However, that’s not the truth; you need to master some essential skills and find the right people for your business. It requires a lot of courage and some essential traits to become a serial entrepreneur.
I hope the article has helped you know about the top serial entrepreneurs who have built their businesses in less time. If you want to become a serial entrepreneur, you need to develop excellent time management skills.
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