Published on April 24th, 2018 | by Jose Vasquez0
Why Is Serial Entrepreneurship So Common in Startup Tech Companies?
It’s common for entrepreneurs to start multiple companies, but why?
A serial entrepreneur is someone who starts multiple businesses from the ground up. They may start with an idea that ends up failing, and move on to a new opportunity, or sell one company when it becomes successful so they can begin another one.
It’s incredibly common for entrepreneurs to become serial entrepreneurs after they get their first taste of business ownership. So why is this the case?
The Entrepreneurial Mindset
First, we have to consider the entrepreneurial mindset. Entrepreneurs tend to be people who have big dreams, and the passion and work ethic to follow through on them. In other words, they have a personality that lends itself to being an entrepreneur. When they finish up with one business, whether it’s a success or not, they can’t help but apply that personality in a new business.
The vast majority of first businesses fail. But entrepreneurs who get a taste for potential success aren’t willing to stop there; they want to keep building businesses and gaining experience until they’ve gathered enough to be successful.
There’s also something to be said for the personal reputation you develop as an entrepreneur. You’re typically the figurehead of your business, and its main spokesperson. You’ll gain lots of social media followers, and establish yourself as a business leader. After your first business fails or is sold, that reputation is going to remain, and you can use it as a segue or launchpad into a new business. In other words, former entrepreneurs have an easier time starting businesses.
Networks and Connections
Finally, being an entrepreneur forces you to meet lots of new people, including other entrepreneurs and talented professionals. With that network in place, you’ll have an easier time bouncing ideas off other people, and potentially forming new partnerships that could turn into businesses of their own.
So are you in the middle of building your first business, or have you already joined the ranks of us serial entrepreneurs? Either way, I can help you become a better entrepreneur. Contact me today, and we’ll work together to make your vision a reality.