The Serial entrepreneur is a person that continuously develops new ideas putting those ideas into action by creating new start-up companies. This is unlike most entrepreneurs who act on a single idea over a period of time and stick with that idea or business.
The Serial entrepreneur will be more likely to sell out of their business or turn over the reins to a managing partner freeing themselves up to continue on in another business.
Many entrepreneurs do not have the skills to manage large scale businesses, and by exiting and moving on, they are able to create new opportunities focusing on skills that fit their talents.
Serial Entrepreneurs are rarely comfortable in managed businesses as they often are looking to improve upon what they have created and will continue to change processes. Sometimes the results are positive and other times the results are not what the entrepreneur was hoping for.
Most serial entrepreneurs continue to do start-ups out of the need to have the challenge and excitement of creating a new company. They rarely are doing it for the money, no matter what their wealth status is.
Each time the Serial entrepreneur does a start-up company, they find themselves more experienced allowing them to quickly navigate through processes that they have done before. This often will lead to faster and larger start-up companies. The relationships already developed allow them to obtain start-up capital, staffing and vendor relationships quickly.
Serial Entrepreneurs are often known in the community and can be of great assistance to other entrepreneurs if they are looking for help in developing new start-up companies. Many of them are willing to help young entrepreneurs find their way.