“The true entrepreneur is a doer, not a dreamer.” – Nolan Bushnell
It is amazing how the typical entrepreneur is nowadays disregarded and it seems his single idea isn’t ground breaking as it seemed only a few years back. Simply having an idea, working on it outright, establishing a company around it and seeing it through till the end does not move the markets nor the stocks nor the VC’s interest nowadays. And it is funny because everyone loves a jack of all trades, but society only approves a man with a plan.
Serial entrepreneurs focus on ideas not ‘idea’.
They grab a concept, initiates the venture, hands over the responsibility to others and jumps onto a different bandwagon. They are what you can call as junkies of the corporate world. Legal junkies, mind you, all set on doing something different, something disruptive. They and their bursts of ideas transcend technology and innovation.
Disruptive innovation is a term in the field of business administration which refers to an innovation that creates a new market and value network and eventually disrupts an existing market and value network, displacing established market leading firms, products, and alliances. – Wikipedia
And this word is synonymous with Serial entrepreneurs. They have a certain unique skill set which places them a level above the other budding yet monotonous entrepreneurs.
Time management. They are aggressive, they are intentional and they are precise. Not a word too many, not an email too long. Crisp, to the point and almost always targeting the bull’s eye when it comes to goals or hurdles. They will always avoid getting consumed into something unrewarding or something that could very easily be outsourced or delegated to employees.
Driving to scale. They posses this skill of initiating a venture and pushing that startup into a sustainable growth trajectory. Their visions and plans are so well thought out that when the market trends & business outlooks change, they are able to scale their ideas and their venture smoothly, without a sense of doubt or hesitation.
An insatiable curiosity. They inherently ask and strive to answer new questions, seek out new ideas and try to connect ideas as well. They have these eager, open minds, that are frequently greeted with voila moments, filled with ideas and newer insights. It is amazing how curious someone can get once they are properly vetted and moulded into a proper entrepreneur.
Knowing when to move on. Marc Preston said,“The key is to identify failure fast and then let it go. Many entrepreneurs hold on too tightly to a misguided idea or project that exhausts them as well as their resources. It’s important to know when to cut your losses. I know exactly what it’s like to fight for a project while trying to drag it from the brink of failure. But what I’ve learned is that once it’s clear something is failing, it’s much better to just be done with it and move on within 24 hours.”
Concluding this somewhat untouched, yet known, topic which hopefully shall inspire the curiosity of ardent readers, with the following excerpt.
“Entrepreneurship rests on a theory of economy and society. The theory sees change as normal and indeed as healthy. And it sees the major task in society – and especially in the economy – as doing something different rather than doing better what is already being done.
That is basically what Say, two hundred years ago, meant when he coined the term entrepreneur. It was intended as a manifesto and as a declaration of dissent: the entrepreneur upsets and disorganises. As Joseph Schumpeter formulated it, his task is ‘creative’ destruction.” – Peter F. Drucker