Are You A Serial Entrepreneur?

There are two types of entrepreneurs. Both are risk-takers, and both are driven. One, however, will start a business and quit if it fails. The other one will start business after business, until he finds one that works. The latter is called a serial entrepreneur. Does this describe you?

Consider this recent article from Entrepreneur magazine:

Clemson University professor Wayne Stewart has taken a close look at how serial entrepreneurs differ from their more novice counterparts. In one study, Stewart and his colleagues concluded that serial entrepreneurs were bigger risk-takers, more achievement-oriented, and had a higher preference for innovation. "The results," he says, "suggest that there is a psychological profile that drives serial entrepreneurs, predisposing them to multiple venturing."

As for whether serial entrepreneurs are born or made, Stewart tends toward the former. While environmental influences such as parenting, education and culture do affect behavior, innate characteristics like leadership and intelligence manifest themselves very early on in life, he explains.

But what is certain is that serial entrepreneurship is an extremely important economic and social phenomenon. "Estimates are that about one-third of new ventures are initiated by serial entrepreneurs, and their firms tend to be larger," Stewart says, noting that higher business success rates may be attributable to prior experience and the resulting ability to leverage a wider network of key customers, suppliers, partners and financiers--all crucial to business creation. The subject, he concludes, "deserves more research in order to provide better prescriptions for practice, and to facilitate policy that encourages entrepreneurial activity."

For the full article, visit:
www.entrepreneur.com/startingabusiness/successstories/article199436.html