Entrepreneurs are
risk-taking business people who initiate or finance new commercial enterprises (Encarta). It is not as if they are endowed with some high
level of smartness or they have the ability to do something better than other
people, rather, they have mastered the skill of not fearing anything that looks
like opportunity. When others see failure, they see success, when others see
disaster, they see enterprises, though they have reservations for type of
opportunity, but they still wisely make decisions and seize opportunities
without minding the cost. Risk-taking
is an integral and intrinsic part of success or living a full life - Malcolm S. Forbes.
So, here are six major characteristics of successful serial
entrepreneurs;
#1 Serial Entrepreneurs
see opportunities and seize them
Those who are going to be in business tomorrow are those who
understand that the future, as always, belongs to the brave - William Bernbach.
Opportunities abound where there are inefficiencies or problems. While
employees at a workplace focus on the resources available, entrepreneurs mostly
focus on opportunities.
If a problem should arise in an organization,
the employee is seen to struggle and navigate through such problem till it is
solved while an entrepreneur sees such as an opportunity to solve and end and
also create a product or service that can sell from it. To an entrepreneur,
every problem is a good news and opportunity.
#2 Serial
Entrepreneurs establish and communicate a clear vision
Speaking about commercial enterprises means speaking about
the creation, the management, the protection, and the application of
intellectual capital - Nicholas Imparato. A clear vision is very
important to an entrepreneur. Without a vision, an entrepreneur is confused, lost
and can’t function. A vision is important to set up a team, create a solution for
a menace and organize all what is needed for success. This comes to play when
an entrepreneur is able to think and discover a problem in the society, strategize
ways to solve it, set up a team to achieve it and then sell it to the outside
world for a reward.
#3
Serial Entrepreneurs can identify and attract great people to work with
‘Pushing a new enterprise past all the barriers to success takes
learnable skills...but it also takes a tenacious inner passion bordering on
monomania. This combination is what I call leadership’ - Kye Anderson. This is the point where
entrepreneurs miss it most. Though they work hard, however, they most times
work alone. Their establishment hardly see the light of the day, might grow but
nor to the zenith. This results when entrepreneurs are not team players or good
leaders. As an entrepreneur, you are not to employ someone you are smarter than;
rather, you employ someone smarter than you are.
Employ people whose hearts burns
more for success than yours, those you are scared of their possibility spirit,
those you know are very capable even when you are not watching. This would be
the magic wand and seasoning for your empire to reach an unprecedented level. Make
sure you try your best to earn their trust, give them the free hand to achieve,
let them be responsible for a lot of things and excuse yourself while you see
your establishment soar to success.
#4 Serial Entrepreneurs know how to
raise capital and resources
‘Capital is the key to a successful business’.
No business
runs successfully without the pumping or input of reasonable capital to start
it and sustain it. This was the best skill possessed by Steve Jobs. He knows
how to convince investors so they can drop something for his business ideas. While
Steve Wozniak did most of the designs when Apple started, SteveJobs knew just how to market the products. He knew the right button to
press, the best words to say at the right moment to convince investors.
This brought
about the success of Apple in a very short time as possible. Outside capital
in a business, it takes longer than normal to flourish. Capital serves as the
lubricating oil of a company and makes things go smoothly in record time. Though
organic growth is normal, however, capital is a very good method to stimulate
or induce growth in a company.
#5 Serial Entrepreneurs are flexible
and adapt to change without forgetting their vision
‘An entrepreneur, if there is such a thing, is a born schemer and
thinker up of things’- Alan Sugar.
One of the rigorous requirements of entrepreneurship is flexibility and
ability to change with time. Change is the only constant thing in life. Anything
can happen and what used to sell might not sell again. Yahoo was the
most used search engine at a time before Google overtook it. Since then,
Google remained relevant in the industry by keeping themselves up-to-date
and also releasing new features.
They introduced their feature into android
since they know that is what the common man can afford and must use. Few of the
most used applications include Youtube and Play Store. Despite
the traffic on these platforms, Google keeps updating it and adding new
things just to remain in the market. Similarly, if you don’t want to be
relegated in the industry, you must be flexible. If your business was formerly
on analog, then you have to go digital. Inability to adapt to your changing environment
will make you useless and push you out of the market.
#6 Serial Entrepreneurs create lasting structure as legacy
Sustainability is the key to every establishment. There is no need to start what you can’t finish. If you don’t
believe in it, don’t go for it. Start what you can finish and what you believe
in. Even when it is not working, you continue to do it. Everything is always impossible before it works. That is what
entrepreneurs are all about—doing what people have told them is impossible -
Hunt Greene. Always delegate
responsibilities in your business; don’t try to do it all alone. Look for
people you trust or still, believe and trust the people working with you. Get people
with similar dreams and put round pegs in round holes.
While others
are on the field working for you, use that time to monitor the market and the
trend, develop new ideas that are implementable and sustainable. This might
cost you a lot of money, you might spend a lot of your profits on settling
salaries, however, with wisdom, this is what you must do to overcome the
industry and become a stronghold. It is a sacrifice, make it and see
your empire boom.
Inspiration from Punch
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