So what is a serial entrepreneur? From a personality standpoint, it is someone who has practical knowledge, useful skills and the right mindset to overcome fear of failure. What does this mean as a business owner? Serial entrepreneurs start several businesses one after another rather than beginning one venture and staying focused on it for many years like a more typical entrepreneur. The typical evolution of a serial entrepreneur’s business enterprise typically involves one of the following:
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- 1. Sell the business after it reaches a certain level of maturity.
- 2. Retain ownership while delegating day-to-day managerial responsibilities to other people.
- Or, if the business is underperforming, close it down and move on to the next idea.
So, while serial entrepreneurs may or may not stick till the end or remain in charge of their startups, one thing is for sure: serial entrepreneurs are always on the lookout for new ideas and opportunities to launch a new company, collaborate with other like-minded businesses, and expand their business portfolios.
Benefits of Being a Serial Entrepreneur
Serial entrepreneurs learn from experience, sometimes the hard way by making mistakes, how to get an idea for a business in motion and off the ground. Along with developing skills, they acquire contacts among investors, talented employees, and others who can help them with the next enterprise.
Expand Your Business Portfolio
A franchise designed to be accessible to anyone with the desire to succeed, Fresh Coat Painters offers an opportunity to own a home-based, low investment, low overhead business in a high-growth industry. B ecoming a Fresh Coat franchise owner does not require painting experience, rather owners focus on managing and growing their business and leave the painting to the professionals. This can be an appealing opportunity for serial entrepreneurs looking to add to their business portfolio. For instance, Jamie Morrison of Fresh Coat Painters of Thousand Oaks began his career in City Planning with a keen interest in serving the community. He went on to build a kid’s surf camp from scratch, and once it was sustainable by itself, he was looking for his next move when he found Fresh Coat. He decided it was a good fit for him because of the proven business model and commitment to service and helping the community.
Scale Your Business Quickly
As a nationally-recognized painting and home services company, Fresh Coat is a results-driven franchise opportunity in the booming home services sector. It offers franchise owners a proven system, operational and marketing support along the way, and an engaged owner network that allows for collaboration. A turn-key business, a Fresh Coat business can be up and running in about three months which is significantly less than most startups take to get operating. Investing in a franchise allows new entrepreneurs the opportunity to jumpstart their businesses utilizing the franchisor’s infrastructure and roadmap to hit the ground running to scale their business - a key component of a business for serial entrepreneurs. In fact, several Fresh Coat franchise owners have had success not just in starting their own business, but growing it, and quickly.