How to Become a Serial Entrepreneur and How they Do It

by Markup Hero

We can rightly call this era an ‘age of entrepreneurship’ due to the amount of people taking the leap of faith and creating their own businesses and becoming their own bosses.

One of the most sought-after questions for these visionaries is “how to become a serial entrepreneur.”

Although many believe this to be impossible, with the continuous advent of technology and opportunities, learning how to become a serial entrepreneur is not a far-fetched dream.It is possible to pursue serial entrepreneurship and create a legendary legacy for the world to behold and aspire to.

What Makes a Serial Entrepreneur?

Many people wonder what a serial entrepreneur is.

In the most simple terms, a serial entrepreneur can be defined as an individual who starts/manages more than one business at a time.

A conventional entrepreneur comes up with one idea, starts the business, and then works to run it smoothly.

A serial entrepreneur, on the other hand, starts a new business while already managing one. Many serial entrepreneurs hand over their older business to hired management teams or sell their company and use the capital for their next project..

Once a serial entrepreneur comes up with their next genius idea, nothing stops them from pursuing it. They aren’t afraid of taking chances in the cold water over and over, and never limit their horizon

The new business can be from the same domain, a complimentary domain, or a completely different industry.Wherever serial entrepreneurs see an opportunity, they go for it.

Image via Investopedia

Big names like Elon Musk, Richard Branson, Oprah Winfrey, and many more are all serial entrepreneurs who dared to take this leap repeatedly and create history.

They found a creative and innovative solution to many problems or needs and went ahead to create legacies that will never be forgotten.

Some Basics on How to Become a Serial Entrepreneur

These key points can act as a torch on your daring journey to becoming a serial entrepreneur.

Take the Decision with Confidence

The foremost thing in learning how to become a serial entrepreneur is to be confident about your decision to take on another venture.

Though confidence is vital to mastering how to become a serial entrepreneur, keep in mind that there is a fine line between confidence and overconfidence. Overconfidence causes you to make hasty decisions that could have detrimental consequences.

Have a Strong Vision

Making a decision with confidence comes from having a clear and strong vision.

When figuring out how to become a serial entrepreneur, understanding your deepest needs and purpose in life will help to motivate you.

Having a clear vision with strong determination gives birth to a successful serial entrepreneur.

Set Realistic Goals

Goals you set for yourself in your new venture should be practical and realistic.

Serial entrepreneurs can be swayed away by their previous success and aim too high, which can prove disastrous.

Setting realistic goals for yourself and your business will help you get a taste of success. The goals should not be less challenging, but they should be viable.

It is important, though, not to get beat down if one of your goals is not achieved.

Maintain Attention and Focus

A big enemy of success is distraction. Distractions can come from both internal or external forces.

External factors can include the economy of a country, socio-political scenery, etc. Internal factors can be small issues with the workforce or environment.

A serial entrepreneur needs to stay focused on everything. Whether small business marketing, a big SaaS product, complex operations, or hardcore talent building. Paying attention to prime aspects is of pivotal importance.

In order to stay focused, you can utilize software tools that help cultivate the entrepreneur mindset.

Handle Failures Smartly

Adverse situations are unavoidable in business or in any other aspect of life.

For a serial entrepreneur, difficult situations can either make or break you. Plans often fail, but how you handle these situations makes all the difference.

Ask yourself, can you accept failure? If yes, the journey to learning how to become a serial entrepreneur will be exponentially easier.

Stop Doing Everything By Yourself

To learn how to become a serial entrepreneur, one of the most important things is to realize that you simply can’t do everything yourself. Delegation of work is vital to saving time.

Delegating tasks to employees, virtual assistants, designers, content creators, and many others is essential to allow your engines to run at the maximum capacity.

As a serial entrepreneur, you need to be involved in planning, networking, making connections, etc. Concentrate on developing the strategy that’ll bring your business closer to your vision.

For instance, if you are focused on lead generation and content strategy at the beginning of your start-up, plan on delegating customer support to a team equipped with efficient contact center software as your business grows. Integrating AI chatbots into your customer-facing interfaces may also be optimal.

Delegation may sound difficult, but it is the structure of business growth.

It’s time to stop doing repetitive tasks that can be automated or handed over to others. Indulge yourself in areas of your expertise.

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Be Ready for Unexpected Surprises

Starting a business is undoubtedly complex.

Serial entrepreneurs should be ready for unexpected and unforeseen occurrences. You should have a plan in place for unexpected events.

Just like life, a backup safety or a safety plan is a must to tackle such surprises.

Market trends and consumer behavior are constantly changing, and every business needs to adapt and innovate.

If you want to learn how to become a serial entrepreneur, it is important to update yourself with the latest trends in the market.

Find out about alternatives and substitutes to your products or services than can disrupt the flow of your business.

Hence, to become a serial entrepreneur, conducting thorough market research and analyzing market factors is crucial. This means considering all the factors which can even remotely affect your domain.

Some Traits that All Successful Serial Entrepreneurs Share

Since we are talking about how to become a serial entrepreneur, it is essential to know what we can learn from successful serial entrepreneurs’ characteristics.

Following are some personality traits that are found in almost all successful serial entrepreneurs.

Problem Solving and Adaptability

Many people refer to a serial entrepreneur as a “Jack of all trades and master of none.” However, this is far from the truth. A serial entrepreneur is a master of many trades in the business world.

Problem-solving skills are pivotal to becoming a serial entrepreneur.

The ample exposure that serial entrepreneurs get from their surroundings help them to adapt to any change in the market or economy.

For example, if the start-up starts receiving a low amount of sales leads, the entrepreneur needs to find a way out.

Using the Right Tools for the Job

Needless to say, there are 24 hours in a day, but some people are able to be more productive than others. Successful serial entrepreneurs value and manage their time to make the best of it. The best entrepreneurs know what tools work for the job:

Markup Hero for communication and feedback. With tons of features, an easy to use interface, and thousands of use cases, Markup Hero is the go-to tool for over 20,000 entrepreneurs.

Discipline in Life

It is often said “Life without discipline is just like a ship without radar.”

Discipline is very important to achieve anything in life, especially when pursuing life as a serial entrepreneur.

Handling numerous businesses and being consistent in your efforts can be achieved through discipline.

Curiosity

All successful serial entrepreneurs are always willing to learn more. Curiosity is the mother of all invention, and serial entrepreneurs are always curious and attentive to their surroundings.

Serial entrepreneurs don’t want to miss the slightest of details, and even a remote opportunity can’t be left unexploited.

Self-Control and Strong Will

Successful serial entrepreneurs try not to get distracted. They exercise strong self-control to stay focused and move closer to their goals.

Serial entrepreneurs do not get down when faced with challenges, but find creative ways to solve them. They are constantly trying to become the best version of themselves.

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Summarizing

Serial entrepreneurs are visionaries who see the world in a different way. Many of us want to achieve the zenith’s height, but sometimes shy away. Entering the unknown is undoubtedly dangerous, but it can be very rewarding.

Learning how to become a serial entrepreneur will help you live an exemplary life. When well carried out, it carries ample financial benefits.

Although being a serial entrepreneur has many benefits, there are a fair share of disadvantages.

Entrepreneurship itself is extremely demanding and stressful, so it's safe to say serial entrepreneurship can be daunting.

However, it’s all in your perspective. If you strongly believe that you can master how to become a serial entrepreneur, then you definitely can. Remove any doubts in your head and go for it.

Guest post by Gaurav Sharma, founder and CEO of Attrock, a results-driven digital marketing company.