I love talking about serial entrepreneurs. To an extent, I am one. I could very well become a full-blown serial entrepreneur if I did not consciously stop myself every time.
A serial entrepreneur is someone that is always starting their “next big thing.” This is where owning an online business becomes both a blessing and a curse. It is so easy to change what we are doing, that sometimes we can get trapped in this vicious circle. We do something, two weeks later it isn’t earning, so we start something different. Or, before we even finish with the first transition, some new shiny ball pops to mind. Project A gets put on hold, and we start Project B.
Rome wasn’t built in a day. That is something I remind myself of to prevent project hopping. I try to avoid abandoning a venture at all expense. It isn’t fair to yourself or your next big thing to be a serial entrepreneur.
There is something you can do to avoid this trap. Mainly, do not start another big venture until the one you are working on is self-sustaining. If that happens in one month, that’s great. Many times it takes 6 to 9 months. If you are reaching this milestone and nothing is happening, it may be time to revise that venture. At the 9 month mark, you are going to have a good indication of whether it is going to work or not. That is if you have put a full effort into it.
If you start project hopping, nothing is ever likely to work. You won’t be giving any one venture the full attention it deserves, or needs, to become profitable. Work it until it works, then add something new.
Are you guilty of being a serial entrepreneur?
About Angie
Twitter: allierambles
says:
My life has been one big serial hop right after another. As I was reading this post I thought, “this is great advice but I’m so new to all this internet money making that I can just pass on it for now.” But then it hit me, I start stuff so often and don’t finish it because I think it’s not working and move on to something else. My life and house are full of what my mom would say, “half-ass” jobs. I am going to change that this time, I’m not going to be a serial entrepeneur.
Amyone out there new? Be sure to read her related post, very helpful!
Thanks for a great motivational start to my day!
Allie recently posted ..Monday Schedule
It’s a hard habit to break, Allie! Thanks for mentioning the related post. As you can see, this is something I have struggled with before (and most likely will again).
Great advice Angie. It is very easy to begin again, but our field takes time and work to grow. I think just when you give up it may be if you had of stayed a little longer, you could have succeed. Building the momentum up enough until the traffic takes on a life of itself, is the point of break through. Thanks for the encouragement!
Chaplain Donna
Chaplain Donna recently posted ..Working on Monday Part 3- The Strategic Planning Process of Achieving Your Goals
Not quite the same as bar hopping, is it, Angie
Kidding aside, you’ve made a firm soapbox point here about serial entrepreneurs. I’ve gotten caught up in that trap more than once and you’re right … it’s a hard habit to break.
Really, really great advice to complete what you start and wait it out for nine months to gauge your results.
Think of it this way …
If you already know that taking care of newborn is a heck of a lot of work, why would you want to take on quadruplets?!!
Melanie
Melanie Kissell recently posted ..An Irritating Neighbor – You – Your Business – And Twitter
Great comparison, Melanie.
Thanks for this eye opener. I didn’t know that’s what I was, but now it has a name!
I am launching a new blog November 8th!
Bernice
Ramblings of a Woman recently posted ..Living the Balanced Life- Perfectly Imbalanced
lol, sorry Bernice. Sometimes we are better left in the dark!
Wow… I think you kind of described me there. : ( I don’t really have any businesses, but I’ve bogged down my time with money making ventures online. If it pays I do it. So, I think I need to slow down here.
Kimberli recently posted ..Just Before Bed
It’s so easy to start venture-hopping, Kimberli. I start doing it myself all of the time. I have to mentally make myself stop.
Love your informative blog! Very useful information. Stopping by from SITS! I want to subscribe via my email but your subscription buttons only take me to RSS feeds, help!
Click the coffee cup. It will subscribe you via email.
UM yessss that’s me! UGH. I hate it! That’s why I am taking action this month to completely focus on two things that ARE working well in my business.
I’m starting to think that maybe I have a commitment problem. I like variety and don’t want to be labeled. UMMM got me thinking here!
Lisa Stoops recently posted ..Facebook PLR Article Pack
This is me all the way! I am always starting something and then getting upset that it isn’t working over night and move on to my next big idea. This is a big problem for me and I making all my efforts to stop it now.
Melisse Deering recently posted ..8 Tips To Become A Successful Person
Best of luck, Melisse.