5 Things All Serial Entrepreneurs Should Know Before Jumping In Too Deep

I became a serial entrepreneur a few short years after I began my entrepreneurial journey. I quickly realized that being a serial entrepreneur wasn’t easy at all and that I had signed up for a lot more than I knew. It takes a lot of dedication and commitment to successfully thrive as a serial entrepreneur in this world.

If you are a serial entrepreneur or are someone considering taking on multiple projects at once, I highly recommend you read this post. In this post, I share 5 things all serial entrepreneurs should know before jumping in to deep:

1. Stay Focused

Many people make the argument that as a serial entrepreneur, you can never be focused. Ignore those individuals because it’s possible to stay focused, but it’s also very easy to lose sight of things. With more businesses than ever being opened up, people will often times ask you to join them or for your help.

You have to learn to say no and stay focused on the projects that you can dedicate the proper time commitment to. If you can’t even stay focused on the multiple projects that you take on, then you’re going to be in for a nightmare.

2. Invest In A Strong Team 

When you have a lot of commitments and projects, it’s KEY that you put a strong team around you to support you. I quickly learned that it’s impossible for me to micro manage every element of my businesses and I had to put a solid team around me.

Understand your weaknesses and put people to compensate for the things you aren’t good at. After that, focus on your strengths and your main role in each of your projects/businesses and you’ll have a much better shot at balancing everything. Don’t work harder, just work smarter.

3. Expect Failure 

Throughout my short entrepreneurial career, I’ve failed quite a few times. Can you imagine how many times people who have been in entrepreneurship for 20-30 years have failed? You must expect failure especially when you’re a serial entrepreneurs. Good entrepreneurs know when to give up and when not to give up based on the results they see.

It’s okay to expect failure in one of your projects especially if you’re tackling so many different things. Be prepared to deal with failure in a proper manner and don’t get too obsessed with reviving a project that might have no future.

4. Approach Everything Methodically

Everybody has their own idea of what it takes to build a successful business. There is no right or wrong way of doing things, it’s just a matter of what works for you. I personally am a very strong believer in the lean startup method and I try to apply that to almost every type of business that I build.

Whatever your method is, just make sure you apply a form of it to all your projects and businesses. Being a serial entrepreneur, it might be easy to try taking short cuts but it’s a terrible idea. There is no shortcuts for success, so stay focused and approach everything methodically.

5. Have Patience 

Most serial entrepreneurs jump into multiple things because they’re impatient and they’re extremely hungry for success. That’s how I was starting off as I didn’t want to wait and trust in the process. Instead, I thought it was smart for me to not have all my eggs in one basket and to see what works.

I quickly did learn however that you need patience. The road and journey to success is never easy. You’re going to deal with tons of obstacles and overcoming challenges takes time. You need to exercise extreme patience so you can succeed.

Conclusion 

In this post, I shared 5 things all serial entrepreneurs should know before jumping in too deep. What are some things you learned as a serial entrepreneur?