If you’re a serial entrepreneur, you’ve come up with great ideas and started multiple businesses. They may be similar or vastly different. You are an idea person! You come up with great ideas for products or services that will make this world a better place. The one thing all successful serial entrepreneurs understand is that they can’t run everything themselves.

Here are tips for serial entrepreneurs to help each endeavor be as successful as it possibly can:

  • Build off of prior successes to make each new business adventure even more successful. Take the productivity, efficiency and business system knowledge you gleaned and build up on that with each new business.
  • Know what advances your cause and what doesn’t. Spend your precious time doing things that advance your business and hire a great team to do the rest.Picture1
  • Hone your organizational skills. This is especially important for the entrepreneur who is juggling more than one business at a time. Multi-tasking, especially when spread across a number of businesses, can quickly lead to overwhelm. The result often is that critical activities are being overlooked or forgotten.
  • Don’t delay on launching your business into the next phase until the time is “perfect.” Entrepreneurs will tell you there is no truly perfect time.
  • Be prepared to tread water for a few months or even years before you start to make a profit in your business. Be wise with your money. Know where every penny came from and where it went. Work with an accounting professional who has the expertise needed to make sure your records are in order. This will be worth its weight in gold when the profit starts coming in.
  • Reach out to business professionals for help and advice. You started your business because you have a core competency. Focus on that. Bring in professionals to help in those areas that are not your core competency. You should have five trusted advisors on your team: an attorney, a banker, a CPA, a financial planner and an insurance agent. You’ll need other business professionals like a website designer, bookkeeper, marketing guru social media professional or other business team members to take up the slack in areas in which you do not excel. Building a core business team from the beginning will help your business thrive and will also give you the opportunity to focus on your niche while leaving items outside of your niche area to other professionals.

Keep those ideas flowing and start as many businesses as you like! Our country and our economy needs job providers like you!!

About the Author

Leave a Reply

Your email address will not be published. Required fields are marked *