Serial Entrepreneurship: A Guy’s Guide to Minimize Stress and Maximize Impact

22609916005_a0d1837172_zUsing this strategy will minimize your stress levels while maximizing your impact.

Enter the world of serial entrepreneurship. If you asked me to explain it to you ten years ago, I am sure that I would have told you that it is a particular type of entrepreneurship in the food industry that focuses on cereals.   

In serial entrepreneurship, the entrepreneur starts a business and then delegate the responsibility to someone else.

Many people either have no idea or lack a full grasp of the real meaning of serial entrepreneurship. It is no debate that entrepreneurship has been predominantly male within the last century. However, record numbers of women have entered the sector within the last decade.

Entrepreneurship was not always so diverse. Today, there is lifestyle entrepreneurship, serial entrepreneurship, and social entrepreneurship among a few others.

The majority of people can define lifestyle entrepreneurship and social entrepreneurship. So then, what is serial entrepreneurship?

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It is not traditional entrepreneurship. Typically, most entrepreneurs will start a business and play an active role throughout the company’s duration. In serial entrepreneurship, the entrepreneur starts a business and then delegate the responsibility to someone else, which gives the entrepreneur the freedom to start another business.

In addition to having multiple companies, most serial entrepreneurs often use an exit strategy to gain more leverage or free up more time. In this video for Entrepreneur Magazine, I offer some real life examples about how serial entrepreneurs utilize those exit strategies.

Besides offering a beginning and end to serial entrepreneurship, I am sure that many people wonder about the journey of the serial entrepreneur. So, many people only read about the mergers or acquisitions but often are without the details about how they got to that level.

How do these entrepreneurs manage their time when they have a portfolio of businesses?

As stated before, delegation is an important principle for serial entrepreneurs. I would never recommend someone to be a serial entrepreneur without incorporating a system of delegation in their businesses.

There are two types of delegation: “in-house” or “third party.” New entrepreneurs may find it easier to hire third party services than hiring dedicated employees to serve as their “in-house” staff.

You can employ the services of a third party by choosing a freelancer or a company that specializes in your particular type of need. If you decide to hire a freelancer, you can find them on websites like PeoplePerHour.com among others. Alternatively, if you choose to hire a company, you can consider a business like Infintech Designs or some other options from doing a targeted Google search.

You can increase your chances of hiring a freelancer or company that offers a high quality of service by reviewing their reviews and ratings.

There is nothing wrong with hiring a dedicated staff if you are okay with dealing with human resources. Moreover, if you are going to be starting and managing multiple businesses, it is best to hire the services of third parties in my opinion.

Some people may find that the serial entrepreneur’s lifestyle is quite complicated, but it does not have to be at all.

First, define the tasks that are time intensive and make a list of those items. Second, start searching for freelancers or companies who specialize in those areas. Finally, choose the freelancers or companies that offer not only a great price but great service too.

Once you have chosen the company or team of freelancers to delegate your tasks, use their services for all of your businesses.

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Using this strategy will minimize your stress levels while maximizing your impact.

In an earlier GMP article, I discussed in detail about defining which asset is more practical and feasible for you. Is it your time or money?

I am a lifestyle entrepreneur who is tasked with the mission of helping people reach the finish line in their careers.

Serial entrepreneurship is not for everyone. It is not for me at this stage of my life. Perhaps in the future, I may feel different about it. I am a lifestyle entrepreneur who is tasked with the mission of helping people reach the finish line in their careers.

If you are interested in learning more about being a successful serial entrepreneur, I welcome you to check out my recent interview with Peter Sage. He is commonly known as “The Extreme Entrepreneur” and the only high school dropout to sit on the board of INSEAD–A Global Top 5 Business School.

If you are ready to be a serial entrepreneur, then it is time that you start reaching the finish line!

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Photo: Flickr/ Paul Carmody

About Kallen Diggs

Kallen Diggs is the author of the international bestselling book, Reaching the Finish Line.

He has been featured in Fast Company and Inc. Magazine.

When he is not writing, he hosts his syndicated radio show (airing internationally on AM/FM & satellite radio) Reaching The Finish Line

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