Secrets of Serial Success

I read an article in the WSJ a few weeks ago about serial entrepreneurs and what it takes to be one. Here are some typical traits of these folks:

Higher propensity for risk, innovation, and achievement

Less scared of failure

More able to recover when they did fail

Recruited top talent from their previous ventures

Acquire financing from the same source as previous ventures

There was an interesting quote about why someone would want to start another venture even in the event that they were successful in their previous venture:

By contrast, serial entrepreneurs' main job is the act of creation -- and thus they keep creating new businesses, often after they no longer need the paycheck. "Most people can't understand why someone who made $10 million would do it again," says Seth Godin, who founded Yoyodyne, an interactive direct-marketing company bought by Yahoo in late 1998. He's now running a new online venture called Squidoo, a free tool that lets users build Web pages about any topic within a searchable community. "That's because most people don't like working, and they think it's irrational to keep working," he says. "But most entrepreneurs don't care about money; it's a tool."

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