![]() ![]() ![]() He served on several IEEE committees and had leadership positions in IEEE groups-which helped him discover his managerial instincts. It wasn’t until he became an IEEE student member in 2006 that Pillai learned those terms. Not everybody may be one, as much as not all can become an entrepreneur, but if you put your mind and heart into it, you may be able to surpass the unimaginable and be able to build a business empire.When Arjun Pillai was a youngster, the words entrepreneur and startup weren’t part of his vocabulary. Some of your businesses may demand your attention all at the same time and not be able to address a certain issue may yield to losses and failure.īecoming a serial entrepreneur takes a lot of courage and confidence. Having too many may result in a lack of focus, causing one or several of them to suffer. With three or more businesses to your name, you need to allocate quality time for each. ![]() It might be difficult to pull out when the right time comes. It cannot be avoided that as you multiply your businesses and expand them, there are more mouths to feed and more individuals relying on you. When something unexpected happens, you have more people to tend to and matters to attend. One misstep may not only affect one venture but may also affect the others. A lot of accountabilityĪlthough there may be directors and managers that will take care of the other businesses and their departments, having several enterprises entail bigger accountability to the entrepreneur. As the entrepreneur moves on to another startup, there must be strong leadership that will steer the other ventures forward. Since serial entrepreneurs are usually more present in the business during the early phase and may have to hand over the reins to someone else, there is a need to find trustworthy people who can manage the various aspects of the business once it has started to take off. You need to be more calculating in your decisions to lessen probable harm to you and your businesses. If you have several ventures you may need a lot to invest in them, which means exposing yourself to a lot of risks. Starting a business means investing your resources, time and effort. Cons of serial entrepreneurship Several risks to takeĮstablishing businesses here and there may sound exciting but it may come with a huge price. Many successful serial entrepreneurs now enjoy various streams of income because they have established several ventures and provided a good foundation to allow them to grow. It’s not always the case, but if they all become more prosperous, you will reap a good harvest with what you’ve sown. Having more businesses may bring in more sales and profits. You get to learn the ins and outs of the many industries where your enterprises belong and understand more the mindset of different market groups. It can provide you with various avenues for professional growth as well as personal development. Personal and professional developmentĮxposure to different industries and challenges will help hone your skills and capabilities. With that, you can pour your time and effort into what you do best while getting experts to take care of areas where you need help the most. As you are more into generating ideas and laying them out, you are not tied up with the day-to-day operations of your businesses. Gives you more flexibility and freedomĪ variety of businesses with different concepts and core products or services may allow you more flexibility and freedom to do whatever you want. By opening another startup, you can experiment and come up with many creative outputs without putting your other business in jeopardy. The good thing about being a serial entrepreneur is that you don’t get stuck with just one idea or box yourself within your existing business. Some are unrelated that you need to establish a separate enterprise for your various business concepts. Not all business ideas can be merged into one venture. Pros of serial entrepreneurship More opportunities to widen one’s creativity ![]() Still, it pays to be aware of the advantages and disadvantages of serial entrepreneurship should you decide to be one. There’s nothing wrong with it if one’s skills set better matches becoming a founder rather than managing a business. Serial entrepreneurs thrive at creating ideas and putting such concepts into concrete results by building startups. Some entrepreneurs may be more skilful at the startup stage and find it a challenge overseeing the day-to-day needs of the business. ![]()
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