There’s no doubt that being a serial entrepreneur is one of the best things that can happen to a person. It can be addictive, empowering, and even thrilling while providing a steady stream of income. But one must possess some specific qualities that make a great serial entrepreneur or they may never make it to the 1% club of winners.
Serial entrepreneurs are a rarity, but they’re the kind of people who’re always looking to learn and never stop pushing themselves.
If you want to be a serial entrepreneur, read on to know what those qualities are and how you can develop them.
7 Qualities of a Rock Star Serial Entrepreneur
1. They’re always learning.
Being a serial entrepreneur is like being a student for life. They’re always learning and growing — they never stop pushing themselves. This is the exact opposite of a typical 9-to-5 job where you are expected to just know enough to hit your daily quota and then stop.
For serial entrepreneurs, this learning process doesn’t just stop at business knowledge. It also includes the learning of skills, tools, and new techniques. In short, if you want to be a serial entrepreneur, you need to keep evolving yourself.
2. They have a strong network.
A serial entrepreneur has a strong network of people around who can help out when needed. These people can be family, friends, mentors, or business partners. As long as they are willing to lend a helping hand, you’ll be able to leverage their connections to create more opportunities for yourself.
Furthermore, having a network means that you won’t have to go through the ebbs and flows of starting a venture alone. You’ll have someone else to help you out along the way.
3. They have no fear.
Being a serial entrepreneur isn’t for the faint of heart. It’s risky, and you will run into obstacles on a daily basis. You might even face some financial risks and failures. In fact, you’re more likely to experience failure than most people.
However, if you’re truly ready to take the plunge, you need to be fearless. You need to be willing to jump in, and you need to have the mindset that nothing will get in your way of achieving your dreams.
4. They have a strong work ethic.
Every serial entrepreneur possesses a strong work ethic; their ventures won’t survive otherwise. You should have a clear goal for what you want to achieve and how you want to get there.
You need to have a solid plan in place, and you don’t stop until you’ve completed it. When you’re a serial entrepreneur, every day is a new challenge, and you need to be prepared to handle it.
5. They have strong leadership skills.
Being a serial entrepreneur means that you have strong leadership skills. You know when to delegate, when to take charge, and when to listen.
You have the ability to motivate people, inspire them, and get them to do things that they wouldn’t normally do. This is the key to being a successful serial entrepreneur — pushing people so they can evolve.
6. They’re driven.
Being a serial entrepreneur is a constant drive to do better. With every mistake, an entrepreneur learns something new and tries to improve his next venture. So it’s not enough to just have a good idea. You need to be willing to fail and take risks.
Plus, you need to be ready to spend hours, days, or even weeks trying to get something done. You need to put in the hard work needed to succeed. If you’re not self-driven and persistent, you’ll leave things halfway, especially when it gets tough to go further.
You need to understand that success is always a step away from giving up; you have to burn your bridges in order to succeed.
7. They’re resourceful.
Being a serial entrepreneur is about having a resourceful mindset. You need to look for new ways to improve yourself and your business. You may not have much to invest at the start of every new venture, as your other ventures may have already taken a lot out of your pockets.
Therefore, being resourceful will help you. You will have to do more with less either to cut current or future costs. Elon Musk did the same with his Space X startup, where he made rockets from reusable parts, which reduced the costs by up to 30%.
Serial entrepreneurs not only possess the qualities that make a great entrepreneur, but they also continuously strive to improve on these traits. By continuously learning and growing, they create a virtuous cycle that helps them attain even greater success in their ventures.
With a strong network and the guts to never give up, serial entrepreneurs are sure to carve out a niche for themselves in the ever-competitive business world. Do you think you have what it takes to be a serial entrepreneur? Start moving forward while keeping these seven traits in mind.
Related Post: 10 Qualities of a Successful Entrepreneur