Well, there are entrepreneurs and serial entrepreneurs. To be serial entrepreneurs, a person should have skills, creativity and strong determination to carry a label. Few entrepreneurs launch multiple businesses and possess some traits of successful entrepreneurs. These traits keep them apart from their mainstream counterparts. Here are explained below nine commontraits of entrepreneurs.
Trait 1:An Adventurous Spirit
From their adventurous spirit, they find motivation and a sense of purpose. Moreover, they are passionate about their ideas and belief in the capability for the implementation of those ideas. They set their eyes on the larger picture for the improvement of the order of things in the sequence of work and revolutionized companies. They become goal-oriented and built an adventurous spirit inside them to keep moving towards the achievement of their goals.
Trait 2: Knowing Their Limits
Well, it's not mandatory to be an expert in all the fields, and serial entrepreneurs know to be jacks of all trades than striving in a better way. Instead, they focus on their leverage human capital and their strengths, knowledge and networks for assigning the remaining tasks to people that cut out for it. Moreover, there are some executives of serial entrepreneurs who keep the operation running continuously. It will keep them motivated about the next idea and the future business model. They should understand their limits while moving towards their goals to avoid mistakes.
Trait 3: Risk-Taking
In most of the serial entrepreneurs,you can see risk-taking trait. It is one of the essential features. Among them, some had left school, which leads to fewer career options for them in the future while others had sacrificed social lives and families. However, some took the risk of financial instability as they invest a large sum of money in such projects that are never materialised. For them, money losses are just like paying a tuition fee to learn a concept and mastering over it and graduate to a higher degree where they can create new products and services.
Trait 4: Learn From Mistakes
No doubt, successful businessman learn from mistakes and not to repeat them in future projects for better output. It rarely happens that you can see a serial entrepreneur who becomes successful in his/her portfolio. The important thing is not to repeat that mistake and find different methods to handle future projects against risks as you all heard that people could learn from mistakes. Hence, for being a successful serial entrepreneur, it is necessary to learn from mistakes and avoid them in future. However, small errors can cause significant losses.
Trait 5: Be Self-Confidence Strongly
One of the essential traits to become a serial entrepreneur is having strong self-confidence. Moreover, possessing a self-confidence dose shields you from self-doubt and you can become impervious to criticism even in a case of choosing a path that seems not to work. However, self-confidence can make you stubborn, selfish, but still, to become a successful businessman like Bill Gates and Ted Turner, you need confidence. It is one of the essential traits as a person can succeed only if he believes himself. He should be confident about his decisions regarding business projects.
Trait 6: To Have Patience
To become a successful serial entrepreneur, patience is must require. For instance, Oprah Winfrey waited for many years to attain national and international fame. Along with passion and self-confidence, you must have the patience to become a successful entrepreneur. There are many such entrepreneurs those are passionate about their ideas just because they have patience. Sometimes, you have to face several challenges and obstacles in your path. Hence, you should have the patience to overcome those obstacles and to achieve your desired goals.
Trait 7: Networking
You should work on your networking in case you are a budding serial entrepreneur. Try to cultivate other successful serial entrepreneur’s companies, learn from their failures, mistakes and successes. Try to engage yourself as possible. Moreover, you can consult an expert mentor who already has followed the path that you want to take now. Also, you can tap your network for surrounding yourself among competent experts in business management, finance, law and marketing. You should engage yourself more in business-related events, seminars to attain more knowledge regarding business strategies.
Trait 8: Realistic Optimism
Generally, it is good to be optimistic about a serial entrepreneur. I talk about Magic Johnson, having a successful career in the NBA and a business career and a less successful bout with the disease. You need to be optimistic while creating multiple companies as a serial entrepreneur, especially if the last one were complete disasters. Hence, being confident will be lucrative for you to fix things and learn from mistakes to avoid operational accidents. Try to be positive and believe in yourself; you will become a successful entrepreneur.
Trait 9: Good Time Management
Well, proper time management plays a vital role in a business and an entrepreneur’s capability to proceed with multiple tasks at a time. Keep in mind that if you are not good at time management, you cannot run various businesses at once efficiently and can not manage things effectively as proper time management came across as much in the small stuff as the larger one. For instance, you receive 100 messages in your inbox, and what will be your reaction? Can you make a schedule of your meetings in a day without overlapping? Will you immediately go to inbox to check the messages whether you concentrate on your work. Hence, these all are positive signs who manage their time well.
Serial entrepreneurs acquired some unique entrepreneurial traits that help be successful in the long term. These traits include patience, optimism, passion, time management, networking and self-confidence. How to become a serial entrepreneur is mainly asked question in online forums. To answer it, the above traits consistently practiced by entrepreneurs make them a more successful serial entrepreneur.