Serial entrepreneur can be defined as individuals who have created more than one successful business in a short span of time. It’s like one successful venture after the other.
Who are serial entrepreneurs ?
Serial entrepreneurs are those people who are looking after establishing a brand from scratch and their sole motive is to create a business environment keeping employment and global impact in mind, one can often relate them to social entrepreneurs.
By definition of serial entrepreneurs one must not consider those individuals or teams who have managed to buy or redevelop existing brands to increase their business presence and succeed.
Quick serial entrepreneurs facts:
- Since they have many ventures they have a great experience of success and most importantly failure too.
- Funding their newest innovation is easy as they have funds from past success or they have well established funding relations with others already
- They have the ability to start a business and sustain it for a year and rapidly transform into bigger and successful venture.
- According to a study by www.ttisuccessinsights.com, their subjects on average built five businesses and sold two of them, with a failure rate of just 66% in each case.
Why serial entrepreneur
Serial entrepreneurs are crucial people / group of people that have put many people back to their work in simple words they contribute largely to creating jobs or increasing employment rate due to their mindset of continuous evaluation and innovation in startups.
According to a study in us, new startups (age< a year) alone contribute to 3 million jobs annually and it is said that without startups there would be no net job growth in the us, reflect this for the entire world.
Can you be a serial entrepreneur?
Well, research have found a set of traits that successful serial entrepreneurs have, if you can relate to most of them then you could be one of them
Traits of serial entrepreneur
- Serial entrepreneurs have a drive for personal power, influence and sense of control over their surroundings
- Social mindset: to help others is what the majority they think of
- Serial entrepreneurs have a craze for learning, experimenting and new innovations
- Serial entrepreneurs think of practical returns on the time and money they spent on businesses.