If the entrepreneurship bug has bitten you more than once, you may be what is typically referred to as a “serial entrepreneur.” You have several businesses under your hat.
It seems no matter what you touch turns to gold.
Initially published through Forbes Coaches Council
You have the ability to make a successful undertaking out of a good idea. But, you can also lose sight of your current businesses with a new venture on the horizon.
1. Don’t Lose Your Passion
Being an entrepreneur can be exciting and challenging all at the same time. There is so much to do, and you and your company are often understaffed. However, don’t feel overwhelmed. Rely on your passion to keep you motivated. It is a tremendous feeling to accomplish something great which you are passionate about. – Donald Hatter
, Donald Hatter Inc.
2. Stop, Put The Brakes On
Is it real or make-believe? Are you chasing the next sparkly idea or have your past endeavors been completed and wrapped up? The hardest part is finishing that final 10% of a project that just doesn’t get done, but we’re done with it, so we pack it in, all the while seeking the next thrilling creative adventure. If you’re a finisher, bravo! If not, examine the niggly threads and move on. – Christine J. Culbertson (Boyle), Coach Christine
3. Be Strategic
Most of my clients are serial entrepreneurs. I encourage them to shoot for the stars and dream big. However, I also emphasize that we have limited resources, so we have to be strategic about how and when we implement new ideas. I have found that this approach prevents them from becoming discouraged by their serial ideas and gives them something to look forward to as they accomplish their goals. – LaKesha Womack, Womack Consulting Group
4. Build With Purpose
Serial entrepreneurs are often attracted to the next exciting thing. Their business mind tends to operate in overdrive. Instead of going after what appears shiny and the next best thing, strategically pursue opportunities that align with your big vision and/or goals. This will allow you to build with purpose businesses that complement each other, and not compete with your future. – Tameka Williamson, Celestial & Associates Consulting
5. Measure And Document Success
Serial entrepreneurialism can create reputation obstacles for you if you don’t understand how to communicate success tangibly. Some entrepreneurs love to find the next shiny object. Measuring success in every engagement can have lasting value, then your serial attention span will be forgiven. Documenting your success and expressing it helps reduce the objections some may have in working with you. – John M. O’Connor, Career Pro Inc.
6. Keep It Simple
Simplicity, not complexity, is essential to success. It includes simplifying the day-to-day administrative tasks, systems and processes, as well as large goals. Simplifying goals enables entrepreneurs to focus on what’s important, rather than constantly diverting to what’s urgent. It also allows them to communicate a clear and consistent brand message to investors, customers, staff and suppliers. – Claire Simier Karsevar, Simier Partners
7. Find Your “Beautiful Enemies”
Positive psychologist Tal Ben-Shahar often refers to Emerson’s concept of a “beautiful enemy,” a friend who loves you and is willing to push back and tell you the truth. It is essential to find your own beautiful enemies. Don’t look for people who agree with every idea you have. Seek out mentors and partners who have your best interest in mind and are willing to argue with and contradict you. – Jessica Glazer, Center for Creative Leadership
8. Master Before Moving On To A New Area
It really comes down to focusing on quality over quantity. There is so much noise out there that you have to be the best of the best to stand out. You’re likely not going to have the best product or service if your time and energy are being spread too thin. Instead, focus on just a few areas and be the very best at those. Then, only once you have mastered that area, move on to a new one. – Kyle Elliott, Kyle Elliott Consulting
9. Prioritize Your Tasks
Do not get distracted! The life of an entrepreneur is like being on an insane roller coaster while balancing fine china on a tightrope. The best advice I could give is to pick your most important task and not stop under any circumstances until that one task is complete. You will always feel a sense of a pride and success if you can just get that one thing off your plate. –Stephynie Malik, Chique Speak
10. Do You, Do It Well, Do It Consistently
The best way to make money as an entrepreneur is to follow three simple yet profound steps. (1) Do you, which means be your authentic self. It is healthy to take notes from other leaders in your industry, but refrain from copying their exact model. (2) Do it well: Excellence breeds retention and referrals. (3) Do it consistently: Entrepreneurial success is found in hard work, when you can’t see the win. – Dr. Keita Joy Ductant, The Leader’s Life Coach
11. Make Mistakes Count
Track your data and learn from your mistakes. As a serial entrepreneur, you have a great deal of experience learning what is successful and what isn’t, but too often, I see serial entrepreneurs approach new opportunities with anecdotal evidence from their previous endeavors. Don’t guess at what went well and what went wrong. Know it! – Jim Judy, TryFranchising.com
12. Build Your Tribe Early
Most entrepreneurs worry about marketing their product, service, or offering until it’s too late. Seek out and build your tribe of supporters, team, and believers early. Figure out how to offer soft benefits and create a reciprocal value-based network. That way, you have an audience to help you promote that can help relieve the stress of bootstrapping and the lack of a budget to market. – Maresa Friedman, Executive Cat Herder
13. Get Clear On Your Strengths
Get very clear on your strengths and gifts. What are you really good at? What comes easily to you? What sets you apart from others? Why do your friends and family love you? What did your previous clients love about you or your business? Build on those strengths and skills and find the right line of business for those traits. This way, you can show up authentically and attract clients easily. – Frances McIntosh, Intentional Coaching LLC
14. Embrace The Volatility Of Your Emotion
Many serial entrepreneurs reluctantly ride the wave of emotions that comes with the entrepreneurial pursuit. They often want to “fix it” and make it better the next time around. They want less anxiety, less sadness, more peaks and fewer valleys. Ride the wave. Your strength is in how you manage the volatility of your emotion. All of it, the good and the bad, is worthwhile. –Indira Jerez, Indira Jerez
15. Make Sure You Are All In
You must be all in to creating something, many times to the detriment of social and special relationships. It’s an all-consuming passion which separates the winners from the “close, but no cigar” finishers. The pages of entrepreneurial business history are littered with names of talented dreamers who just lacked the drive needed to be successful. – Terry Powell, The Entrepreneur’s Source
Meet Coach Christine
Christine coaches with ROI top-of-mind. Many companies who leverage her coaching produce quick and long-lasting results transforming people, processes and culture, impacting their bottom line. Clients have seen upward of 200% ROI.
Her time with clients generates powerful results in:
- Business and Personal Development
- Communication and Relationships
- Sales and Sales Leadership
Watching and learning at the feet of titans of Canada’s Wall Street and other business leaders, Coach Christine was influenced by their success and built a corporate career and coaching business founded on proven business practices.
She is an award-winning business woman and contributor to Forbes publications; is an accredited coach with the ICF; a practitioner of Conscious Business practices; is certified by the IMPACT: Coaching with ROI program; holds her First and Second Degree Reiki and has studied Aboriginal healing for over 20 years. Christine loves the adventure of travel and has a knock-out collection of snazzy women’s shoes.
When you want more, are ready to bust obstacles and build your juicy, big life, contact me, Coach Christine Culbertson.