Serial Entrepreneur versus Serial Starter
A serial entrepreneur is defined as a business person who successfully starts a number of different businesses. Success: that’s exactly what separates a serial entrepreneur from a serial starter. In today’s world where becoming a start-up founder and entrepreneur ranks higher than the evergreen Bollywood stars and cricket players, the Indian ecosystem has to be careful not to create too many serial starters. There are so many people out there who are simply running behind the fame of VC funds and neither solve a problem in the market nor are they passionate about what they do. Those are the guys (and gals) that start a variety of ideas without great implementation which leads to a lot of unfinished business and companies that do not make (enough) profits… Serial Starters are easily distracted and lack focus.
Why women in India make great serial entrepreneurs
We all know it: Indian women (have to) play a variety of roles: daughter, sister, wife, daughter in law, friend, etc. We have deadlines at work, PTA meetings, a family dinner with relatives coming over to our home, a sick child lying in bed, a husband who needs his lunch packed, etc. It is a miracle how we manage everything (and I am not saying we always manage it perfectly but we get done what needs to get done). To look at the brighter side: Many of the characteristics ascribed to serial entrepreneurs are common in many women: we prioritize, we focus, we network and we are passionate. Women are so used to juggling a variety of projects and responsibilities that they make excellent serial entrepreneurs.
My tips and tricks as a serial entrepreneur
Schedule everything in ONE calendar
I believe in scheduling. I schedule everything. Board meetings, date nights with my husband, sleep, business trips, exercise, household chores. And all of it goes in only ONE calendar to avoid the illusion of having enough time for too many things in a day. This way you will also avoid to double-schedule for a timeslot…
Train and Trust Your Team
People are the key to success – especially when you run multiple businesses. You won’t be able to do it all by yourself. You need a rock star team that you can trust and you need to equip them with the knowledge and tools they need to run the show for you. Invest in your people. Train and trust your team.
Run your household like a business and don’t strive for perfection
Being a serial entrepreneur, you will not have enough time to cook the healthiest meals every day or plan the fun family activities. Your living room might be a messy start-up office and your fridge might be empty… so what? Your household doesn’t have to be perfect all the time. Focus on what is important to you, use apps to get your groceries delivered and hire a team that supports you at home while you focus on your businesses. Get a cleaner, cook, nanny, driver or whatever you need to keep your household running while you build your business empire.
Idea Book
When I was a kid, I wanted to become many things. One of it was an idea creator. I used to come up with so many ideas, how to solve problems and how to make the world a better place. Even today, you hear me say at least once a day “I have the most brilliant idea ever…” Ideas are important to any entrepreneur. You have to be innovative and creative to solve problems in a new way and to create a valuable product or service. But as a serial entrepreneur, you have massive time constraints and you need to filter which ideas you can work on right now and which you should let go. I dedicate a whole book to my ideas. I write down every idea I have. Some ideas are meant for right now. Other ideas have to wait. But they shouldn’t be cluttering your mind. Write them down to ensure that you won’t forget the idea but decide that this is not the right moment to act upon it.
About the author:
Gwenda Schobert is the founder and CEO of Silver Hearts India, a HealthTech startup that supports elderly people and their families. She is also the brain (and heart) behind Entrepreneuress Dot In, an online platform that supports female entrepreneurs in India to start, grow and scale their businesses. Furthermore, Gwenda is the founder and Blogger-in-Chief of Gwenda Glocalista, a lifestyle blog for both expats and locals in Mumbai.