Published on February 8th, 2016 | by Jose Vasquez0
Why Most Entrepreneurs Don’t Stop at One Startup Tech Company
Most entrepreneurs go on to build multiple businesses, but why?
I consider myself a “serial entrepreneur.” Yes, it’s become a bit of a buzzword, but it’s the best way to describe myself, and the hundreds (maybe even thousands) of multi-business entrepreneurs constantly striving to build more enterprises.
This leads to a good question: why are there serial entrepreneurs at all? If the goal is to build a successful business and you do it, why not just stop?
It all has to do with the nature of entrepreneurship and how businesses ultimately develop.
First, understand that the vast majority of all new businesses end in failure. That means, for the entrepreneur whose dream is building a successful company, the first business he starts is more than likely to fail. I’d even argue that most second businesses fail, though I only have anecdotal evidence to rely on. The truth is, many entrepreneurs only find success once they’ve tried—and failed—multiple times already, necessitating that most entrepreneurs be “serial” in the first place.
Second, consider the level of passion inherent in entrepreneurship. For you to dedicate yourself to building a business, you have to be incredibly passionate about what you do, and that passion usually isn’t limited to only one area. Once you’ve reached your goal, that passion doesn’t go away—you just need a new outlet in which to apply it.
Entrepreneurs are creative types, first and foremost. The keyword here is “create.” They’re driven to create new things and push boundaries—but they can’t do that by simply managing a business that already exists. Instead, they have to find something new to build, usually in the form of another business.
When you’re an entrepreneur, you meet a lot of people—clients, partners, mentors, employees… the list goes on. All these connections have their own interests, fields of expertise, and forays. Sooner or later, you’ll catch wind of someone else’s bold plan or new idea, and you won’t be able to help yourself from joining up.
Finally, when you have more experience as an entrepreneur, you’ll feel more confident in starting a business. This allows you to flesh out your ideas more than if had no experience at all.
The truth is, most “natural” entrepreneurs are “naturally” serial entrepreneurs. Sometimes, they just don’t know it until it’s time to move onto something new.