SERIAL DEFINITION SERIAL

SERIAL DEFINITION SERIAL

The term ‘successful’ is important in this definition since establishing many businesses that fail does not constitute someone a serial entrepreneur. In combination, these words mean someone who makes money by establishing and operating many successful businesses. What is a Serial Entrepreneur?Īs defined by the Oxford Dictionary, an entrepreneur is someone who “makes money by starting and running a business,” while the meaning of the word “ serial” is “ doing the same thing, in the same way, several times.” Including how they manage to run several organizations – sometimes concurrently – and, most importantly, how you may develop these traits to launch those business ideas you’ve been sitting on for so long. In the next section, we’ll go through the characteristics that these types of entrepreneurs possess that enable them to establish many profitable businesses. While most business owners are content with a single idea, sticking with it over the long term, serial entrepreneurs never settle for one or two businesses. That is where serial entrepreneurs differentiate themselves from entrepreneurs. It takes a different set of qualities to want to go over the whole process of launching a successful business over and over. Business owners often have to slave away for several years with the hope of coming out at the top, but very few do. Ultimately, it is part of the risk involved in pursuing a dream.ĭespite this highly likely undesirable outcome, the rewards from making it as an entrepreneur are almost always worth the effort.

Some of the handful that tries it end up wiped out emotionally, physically, and financially due to their efforts. It is an arduous journey, from the conception of an idea to the establishment of a thriving business. The most significant difference being their resolve and passion for wanting to see their ideas come to fruition. These people are entrepreneurs, and they have distinct characteristics that distinguish them from wantrepreneurs. There’s a small percentage of individuals that will go ahead to assemble the resources necessary to start their businesses. These individuals are referred to as wantrepreneurs. Most people have great business ideas, but few ever muster the courage to follow through and try to actualize them into successful business ventures.

Ever wondered what it takes to launch multiple successful businesses? This guide will take you through all the steps to understand what a serial entrepreneur is, how they manage their businesses, their character traits, and the pros and cons of serial entrepreneurship.

Serial definition