15 Essential Coaching Tips For Serial Entrepreneurs

Linda ReyesBlogging, Forbes Coaches Counsel

If the entrepreneurship bug has bitten you more than once, you may be what is typically referred to as a “serial entrepreneur.” You have several businesses under your hat. It seems no matter what you touch turns to gold. You have the ability to make a successful undertaking out of a good idea. But, you can also lose sight of your current businesses with a new venture on the horizon.

To remain in the game, you need to keep your eye on the prize and fully develop your businesses to their full capabilities. You need to hold tight to your passion and find a strategy that works for you that can help take all your companies to the promised land of success. This is why 15 members of Forbes Coaches Council provide below some of their best tips for serial entrepreneurs. Here is what they recommend:

1. Don’t Lose Your Passion

Being an entrepreneur can be exciting and challenging all at the same time. There is so much to do, and you and your company are often understaffed. However, don’t feel overwhelmed. Rely on your passion to keep you motivated. It is a tremendous feeling to accomplish something great which you are passionate about. – Donald Hatter, Donald Hatter Inc.

2. Stop, Put The Brakes On

Is it real or make-believe? Are you chasing the next sparkly idea or have your past endeavors been completed and wrapped up? The hardest part is finishing that final 10% of a project that just doesn’t get done, but we’re done with it, so we pack it in, all the while seeking the next thrilling creative adventure. If you’re a finisher, bravo! If not, examine the niggly threads and move on. – Christine J. Culbertson (Boyle), Coach Christine

3. Be Strategic

Most of my clients are serial entrepreneurs. I encourage them to shoot for the stars and dream big. However, I also emphasize that we have limited resources, so we have to be strategic about how and when we implement new ideas. I have found that this approach prevents them from becoming discouraged by their serial ideas and gives them something to look forward to as they accomplish their goals. – LaKesha Womack, Womack Consulting Group

4. Build With Purpose

Serial entrepreneurs are often attracted to the next exciting thing. Their business mind tends to operate in overdrive. Instead of going after what appears shiny and the next best thing, strategically pursue opportunities that align with your big vision and/or goals. This will allow you to build with purpose businesses that complement each other, and not compete with your future. – Tameka Williamson, Celestial & Associates Consulting

5. Measure And Document Success

Serial entrepreneurialism can create reputation obstacles for you if you don’t understand how to communicate success tangibly. Some entrepreneurs love to find the next shiny object. Measuring success in every engagement can have lasting value, then your serial attention span will be forgiven. Documenting your success and expressing it helps reduce the objections some may have in working with you. – John M. O’Connor, Career Pro Inc.

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