We hear the term “entrepreneur” a lot and not many know its meaning. And even if they know its meaning, they usually confuse it with the businessperson. An entrepreneur is a person who converts opportunities into commercially viable ventures, bearing more than normal risks.
Not all entrepreneurs are the same; some of them usually start only one business throughout their life. But serial entrepreneurs are different. Serial entrepreneurs are individuals who start multiple projects and take higher risks than normal entrepreneurs.
What Is A Serial Entrepreneur?
A serial entrepreneur is an exceptionally creative person who brings up new business ideas and works hard on those ideas to start a new venture. He is a person who can fail over and over again, but he takes the lesson from his failures and turns it into a success. Not everybody can turn a failure into a success, or not everybody can run multiple businesses at the same time. Only “serial entrepreneurs” can make it possible with their passion and focus on innovation and great ideas.
Serial entrepreneurs manage multiple businesses at one time. For instance, AMINE LARHRIB is a serial entrepreneur with comprehensive experience in cryptocurrency and block-chain based technology as well as in traditional finance.
Serial entrepreneurs like innovations and love to handle more than one idea at the same time. Once their business venture starts making progress, they hire staff just to run this specific business. This is the way through which they give equal time and focus to each of their business. Now the thought comes to everyone’s mind that why would a successful businessman think of starting something new when he is already doing so well with his current project? Well, this is what makes him a serial entrepreneur.
They want to try new ideas and transform them into successful ventures. This gives them experience with whether the idea would work in the market or not but also gives them exposure and see how better they can perform at multitasking. And of course, who doesn’t want to make some extra money?
Characteristics Of Serial Entrepreneur
Serial entrepreneurs stand out either personally or professionally. They are risk-takers. They are highly optimistic. And have a long-term vision. Here are a few characteristics of serial entrepreneurs.
Serial entrepreneurs are very enthusiastic and optimistic about their ideas, and therefore they work hard to make their idea successful. For example, when they get a new business idea, they start working on making business strategies. They utilize their resources to start a new venture. They are very enthusiastic about their new venture. Once their new business is showing progress, they move to another idea.
Serial entrepreneurs are seen as a walking think tank. Instead of staying in the present, they look forward to what they can do in the future. They are always on the lookout for ways to start a new idea or business venture.
- Good Team Players
Being a serial entrepreneur doesn’t mean that you are the only person who leads the business venture. It is good to be a team player and take help from partners and team members. A person cannot grow multiple businesses if he is not able to lead and manage a group of people effectively. Serial entrepreneurs can effectively lead the people and assign them their roles in every new venture.
- They Are Not Only Driven by Money
Serial entrepreneurs have more focus on developing their new ideas and their progress than money goals. This doesn’t mean that they don’t want to earn money, but they don’t just focus on monetary goals. The thing that drives them is how to make their business idea a successful hit.
- They Are Innovators
A new business venture doesn’t always turn out to be unique. However, making innovations and trying something new can turn ordinary into unique. And this is what a serial entrepreneur does if his idea already exists in the market.
Well-Known Serial Entrepreneurs
Many of the famous and well-known entrepreneurs are serial entrepreneurs like Elon Musk, Oprah Winfrey, Walt Disney, Richard Branson, and Amine Larhrib.
Elon Musk is best known for Tesla, but before that, he was a successful serial entrepreneur. He made his own video game and founded Zip2. Now with Tesla, he is also working on his new venture, SpaceX.
Amine Larhrib is also a well-known serial entrepreneur. He has extensive experience in cryptocurrency and blockchain-based technology. He is the founder of DLTify, a company that finds solutions to reduce friction between DeFi and traditional banking.
Setting up a successful business is not easy for everyone. It requires focus, teamwork, and a lot of hard work to make it successful.