Why Being a Serial Entrepreneur Means You Just Can’t FocusPosted by Jessica Oman
The phrase “serial entrepreneur” is thrown around way too much these days. It annoys me enough that I decided to write a post about it.
A recent infographic from Funders & Founders shows the path five so-called serial entrepreneurs took to reach their billions. Interestingly, the paths look more linear than webby. Perhaps it’s because these people knew that they needed focus in order to make one business opportunity as successful as possible before moving on to the next one. Check it out:
But we don’t usually talk about serial entrepreneurs this way. Self-imposed serial entrepreneurs joke about how their fingers are in eighteen pots of honey. I guess this is supposed to make them look smarter, or more super-human, than all of us regular entrepreneurs.
But we all know what happens to people who try to do too many things at once for too long. They crash and burn.
The entrepreneurs in the infographic made their money from multiple businesses, it’s true. But they also built teams around them to support them and take over their ventures so they could move on to new ones. I’d be willing to bet that the majority of them are committed to just one thing at a time, and they just keep an eye on the rest because they’ve been built to have other people run them. Their names are still attached, and that’s about it.
I have three little businesses, and I’m mulling around a fourth and a fifth already. I’d love to launch these new ventures, but I won’t do it now because I know I can’t commit my complete focus to any of them, until the others are running themselves. I don’t have my full support team up and running. If I try to do too much, too soon, I’ll crash and burn too – and all of my businesses will suffer.
It’s a struggle now to manage these ventures – but as I create more systems and processes a la Natasha Vorompiova to streamline my various ventures, it’s getting easier and easier.
So, unless all your other businesses are on autopilot while you give everything in your head and heart to one purpose (entrepreneurial or otherwise), you’re not really a Serial Entrepreneur. You’re someone with commitment and focus problems. Really.
What do you think of the phrase “serial entrepreneur”? Would you define yourself as one? Let us know in the comments.