Unlike most typical entrepreneurs, a serial entrepreneur comes up with a pool of ideas that move beyond the scope of finding one venture and settling into it forever.
It can take entrepreneurs years to establish a business that can cross the $1 million mark. And then, it takes half a decade for entrepreneurs to move outside their comfort zones and challenge themselves to venture into the cold waters of serial entrepreneurship.
That is why serial entrepreneurs are considered such a rare breed, as they are also one of the few people who can quickly climb up to the position of the top five billionaires in the world.
So what exactly is their secret? What makes them so different from ordinary entrepreneurs? Let’s find out.
Working With Efficient Partners
With serial entrepreneurship, it is important to take help whenever it presents itself. Even when it is not offered, one must be able to employ or even partner up with people who will help you grow.
Even when you think you have all the right information on effectively managing your company, you cannot just depend on your own abilities to fund your business either way. Whenever you plan to start a different business venture, always seek the assistance of the right people to work with. People who are in the same field, or are doing the same work, or even have valuable experience they can share with you can go a long way in helping to get one step closer to your dream.
Developing a Thick Skin
Nobody faces failure as many times as a serial entrepreneur does. So if you are thinking about becoming a serial entrepreneur, then get ready to face 10 to 15 failures at the beginning of your career. This field is not for those who do not have the nerves of steel to take on the frequent challenges and failures ahead of them.
For a serial entrepreneur, there is no room to become intimidated. It is crucial that you do not let your failures negatively affect your successes. Keep in mind that not all of your ideas are going to make seven figures – maybe five figures and you will just have to accept them. You have worked enough on that one venture, and now you have to move on to the next one.
The best way you can learn how serial entrepreneurs can achieve success is to look at their work history and what they did to achieve them. For example, looking at the work done by Naveed Sherwani has helped many aspiring serial entrepreneurs.
For many years now, Naveed Sherwani has been highly revered as a Pakistani-American semiconductor industry veteran, researcher, author, and serial entrepreneur who has been working for a number of companies. A few examples include Touchstone Semiconductor and Integration Associates.
He was also on the Board of Advisors of the Pakistan National Investor Portal – an equity crowdfunding platform that operates under the SECP sandbox and at the Anari AI to help the team revolutionize the semiconductor industry.
Sherwani also served as the Chairman of the Silicon Federation, which comprises of four silicon companies – SemiFive, LeapFive, StarFive, and ChinaFive – with each of these federation companies focussing on distinct strategic and regional focus.
Moreover, he and his wife founded United We REACH (UWR) for the purpose of encouraging equity in education for children all over Pakistan by providing students with scalable and quality education solutions within socioeconomically stressed demographics.