Why Serial Entrepreneurship Is For Me (And Might Be For You, Too!)
Photo: Jacoby Photo & Design
Looking back on my young life, I was a hustlin' little creative by trade. From hocking handmade magazines in elementary school to landing paid photography gigs in high school, my interests were varied but all shared one common thread: entrepreneurship.
I'll never forget when I first heard the term "serial entrepreneur" while listening to Tina Roth Eisenberg's episode of The Lively Show podcast (seriously, listen to it, she's amazing!). It's like everything that she said resonated with me, and I immediately looked to her as a career role model.
Now that I'm in the thick of running my first business, I've quickly learned that although I love what I do and adore serving my social media and branding clients, I certainly see myself diversifying and launching additional businesses down the road.
Why? Because I'm a little crazy – and I also absolutely love the process of building a brand or product out of a vague idea, all from the ground up.
Does serial entrepreneurship sound like something that may be in your future, too? Here are three reasons why it's for me!
1. As a serial entrepreneur, life will never be boring.
I'm addicted to feeling uncomfortable and challenging myself to try new ideas or processes in my business. I fear for the day that I'll become so comfortable in my work that days serving my business and clients will feel more routine than stimulating. By launching and nurturing a series of varied businesses, I can rest assured that I'll always have a new challenge at hand to tackle – no matter what!
2. Diversifying my revenue streams = #goals.
I'm presently running my business under a service-based model, meaning that my work outputs are very limited by the hours in a day and how many clients and projects that I can take on in any given time. And with that comes limits, like a cap on the income I'm realistically able to make in any given month. And when it comes to revenue? I don't want limits! That's why I hope to diversify my revenue streams through different businesses in the future, whether it be continuing to provide creative services, selling a physical product or designing passive revenue streams.
3. You'll never stop learning.
This is the biggest reason that I want to pursue launching additional businesses in the future: I never want to stop learning! Although I'm still learning each and every day in my current business (social media is evolving at a crazy fast rate!), I know that launching businesses in different industries will force me to learn new skills. With a physical product, I'll have to learn the ins and outs of sales tax, tracking inventory and merchandising; with passive income streams, I'll have to learn about best practices in automation processes. I'd rather have knowledge about a whole array of industries rather than just one!
Would you ever consider launching and managing multiple businesses? Is this something you already do? I'd love to hear about your experience in the comments!