5 distinctive features of serial entrepreneurs

Being an entrepreneur - hard work, but to be a successful entrepreneur - hard work twice. five common features are listed in this article, you need to cultivate in order to reach the very top of business.

Mark Preston (Marc Preston)

Serial entrepreneur, CEO and owner of four companies. Over the past 20 years, he has realized dozens of profitable ideas, and helped found seven independent companies in a variety of fields ranging from design to software development. He formulated five basic features that are common to all successful serial entrepreneur.

Serial entrepreneur - a man who created a successful business, earn money on it, and then came out of him and sold. These entrepreneurs are not fixated on one single idea, they are trying to implement a completely different business concept.

These entrepreneurs - is a rarity. Only one of the ten candidates truly achieves heights in this area. Such a small percentage of the success can be attributed to the fact that entrepreneurs are faced with a great many problems.

According to a joint study of Michigan and Stanford universities, more than 70% of businesses, failing once folded and not become longer try to realize their ideas. However, the remaining 30% is exactly the same people who have continued to move on and have begun to implement other ideas. The following look at the five basic features common to all serial entrepreneurs.

1. Using time management

The most valuable resource for all of us - the time because it is the only asset that we can not fill. It is for this simple reason, the need for an aggressive, intentional time management so important for serial entrepreneurs.

Treat critical to the distribution of his time. How much do you spend on checking mail, or participate in projects that could be transferred to outsource or delegate to other employees? Always keep this in mind because the planning time - this is an important skill for a successful career of serial entrepreneur.

Mark Preston

2. Zooming and turning ideas into reality

One of the characteristics of serial entrepreneurship is considered to be the ability to quickly replicate and scale a certain business model in today's market. With loosely be called entrepreneurs of those people who are not able to take risks, to assess whether an idea will work and be profitable. If the answer is no, then you need more after the failure and find the strength to try to implement other ideas. This is the basic difference between the serial entrepreneur and typical businessman.

3. Forming a strategic relationship

Profitable business rather difficult to build alone. That is why the serial entrepreneurs gather like-minded people, the partners and associates. However, in addition to the close-knit team, and it is worth considering this kind of strategic relationship as mentoring or coaching. For example, to help develop small startups.

I believe that successful entrepreneurs must free help small projects. You can become a wise and experienced mentor for these people to share their useful skills, send in the right direction. Nice to know that you became the man who lit someone entrepreneurial fire. Mentoring - an extremely useful skill for a serial entrepreneur.

Mark Preston

4. Love of learning

Innate curiosity and desire for continuous acquisition of new knowledge - this is another feature that distinguishes serial entrepreneurs from the mediocre leaders. They have some sort of engine that pushes forward and gets to ask questions, seek answers and generate ideas.

I read not only newspapers and technical reference, I read a completely different literature, and precisely because of this start to notice communication, which did not pay attention before. No matter how it was strange, many ideas came to me in a dream. I woke up with new ideas and world view. The main thing - do not miss the moment when you lit up.

Mark Preston

5. The ability to stop in time

Determination and perseverance, it seems embedded in a serial entrepreneur at the cellular level. Nevertheless Preston notes that just as important is the ability to admit their failures and throw the failed venture.

The idea is to quickly detect an error and let it happen. Many entrepreneurs are too cling not justified by the ideas or projects that erode their power and deplete resources. It is important to stop in time. As soon as you notice that something is clearly going wrong, you need to quickly and decisively with this goodbye.

Mark Preston

One of the curious aspects of the business philosophy of Preston as a serial entrepreneur can be considered as follows: it is the absolute enemy of business plans. According to him, they deliver a huge inconvenience and bring little tangible benefit for the real business. The fact that you have a hefty 70 pages on the Talmud, of course, fine, but it is unlikely to help when confronted with the first difficulties, he says.