Are you hearing the term serial entrepreneur for the very first time? Over the years, many serial entrepreneurs have come and gone. But, this is not a renowned concept in business circles. By definition, serial entrepreneurship is a professional who keeps coming up with new startups and ideas. When compared to traditional entrepreneurs, who work with a single idea – serial entrepreneurs have so many companies to work upon. Every time they find a new idea, they start working on it. Indeed, this might be a bad practice. And, it falls in line with the old cliché “A Jack of all trades, is a master of None”. In this modern era, there are too many “Jacks” in the industry.
If you are willing to become a successful serial entrepreneur, the following points will help you.
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Work with partners, work with people!
This is definitely the best piece of advice to anyone interested in serial entrepreneurship. If you want to start a business in something they are not gifted in, you need to work with many people. Focus on partners who have adequate knowledge and skill in the business. For example, if you want to start a café, and are not interested in baking – you need someone who knows about cakes and bakes!
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Utilize Pre-defined platforms & Pay these platforms!
Trying to thrive in a platform that you are completely new too, can be extremely challenging. The key to survival would be re-using existing platforms. The internet has delighted serial entrepreneurs with many opportunities. Freelancing and platforms have become the norm. This is so true in domains like social media marketing.
You need a thick skin!
Serial entrepreneurs need to be prepared for surprises. This kind of business is never easy to execute. This is mainly because you are venturing into uncharted territory. Always be prepared to ask questions, and engage in market surveys. Even when you raise concerns, and engage in market surveys – you will not be able to see all the unique challenges.
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Do things differently
Every business needs to focus on “unique” aspects. This is because you need to make a lasting statement. End of the day, ideas are never owned by a single person. Some time or the other, the world would have seen a similar idea. You may feel psyched that your idea was both unique, and wonderful. Halfway into a conversation with someone else, you will feel that it was never new. Be prepared to do things “differently”, especially the way you present your ideas.