Christy is an entrepreneur. She is a former freelance fashion stylist who set up a styling agency after 10 years of working independently. A couple of months into this entrepreneurship, she realizes the need for a good upcycled fashion brand in the market. She uses some profits from her styling agency and starts a new small business enterprise that makes ready-to-wear clothing for women, using scrapped and excess used fabric. Christy now is a serial entrepreneur!
An entrepreneur is a risk-taker, however, a serial entrepreneur is someone who takes way more than normal risk to build more than just a single venture, even when they are not obligated to do so! It does not matter how many businesses a serial entrepreneur owns or if they are all running in profit; it’s more about taking a risk and having immense faith in their idea.
A serial entrepreneur’s drive to start something new is never-ending. They constantly think outside the box and do not let any kind of self-doubt or fear stop them from moving on to a new business whenever and wherever they see an opportunity.
The manner in which a serial entrepreneur manages his businesses varies from person to person. Some entrepreneurs like to keep a stake in all their businesses while giving day-to-day managing control to someone else, whereas some like to sell off a business once it is all set up and running smoothly. It entirely depends on a person’s ability to handle multiple businesses and the extent to which they can multitask without causing any severe damage to anyone or all of their businesses.
Now let’s have a look at some of the most common but essential character traits that all serial entrepreneurs have known to possess:
They are usually 10 steps ahead when it comes to unique ideas. They are always thinking of innovative solutions and want to build businesses that stand apart in a crowd.
More than a traditional entrepreneur, they take risks on several levels with not just one but multiple enterprises.
Not driven by profit:
Money Making is a part of any business idea; however, it isn’t the only goal on a serial entrepreneur’s mind or not the only driving factor behind them wanting to set up a business. Having an opportunity to fill a gap in a market is the real motivating factor behind all their hard work!
Failure or fear of not succeeding does not stop them from trying to turn their idea into reality! They are extremely resilient, learn quickly from their mistakes and move on to find solutions rather than dwelling over what went wrong in the first place.
One of the most crucial aspects of being a serial entrepreneur is having the capability of working in a team; only then can one be able to create multiple enterprises. This isn’t a one-man job. One has to liaise and collaborate with people from various backgrounds at different levels and build a team that is as happy and content with them as they are!
Serial entrepreneurship by no means is a piece of cake, but if one puts their mind to it, nothing is unachievable! Are you wondering whether you have one or all of these traits? Then you must head over to the Wealth Dynamics personality test and find out for yourself!