What is a Serial Entrepreneur?
Ken Knorr is an entrepreneur who continuously comes up with new ideas and starts new businesses. As opposed to a typical entrepreneur, who will often come up with an idea, starts a company, and then sees it through and plays an important role in the day to day functioning of the new company, a serial entrepreneur will often come up with the idea and get things started, but then give responsibility to someone else and move on to a new idea and a new venture.
But that doesn’t mean that Ken just starts and drops companies. For instance Ken started That Company in 2007 and as of today still serves as the President and CEO.
Here’s a great Image that I found that might help you understand…
Quotes from Some Famous Serial Entrepreneurs
“Business opportunities are like buses, there’s always another one coming.” Richard Branson
“There are no shortcuts. You have to work hard, and try to put yourself in a position where if luck strikes, you can see the opportunity and take advantage of it. I would also say it’s hard not to fool yourself. Everyone tells you how they are going to be “special,” but few do the work to get there. Do the work.” – Mark Cuban
“I’ve already figured out when I’m going to be No. 2 and No. 1.” – Sheldon Adelson
“Starting and growing a business is as much about the innovation, drive and determination of the people who do it as it is about the product they sell.” – Elon Musk
Not Everyone is Cut Out for This
Serial entrepreneurship is not for everyone, and to be an entrepreneur take a certain type of personality. It especially takes someone who is not afraid of risk. Not fearing risk does not equate to carelessness. In fact I would say that I am an exceptionally careful person. Good entrepreneurs mitigate risk, we weigh the risk vs the reward, and we look for the pitfalls. But once we make our mind up there is little that can hold us back.
The Entrepreneurial Personality
Ok, so there are a ton of personality assessments out there, and I do mean a ton. Honestly I have always looked at them with a bit of suspicion. But I did finally find a site, that I think has it right. www.16personalities.com . If you have never heard of them, I recommend that you check them out AND I highly recommend that you take their assessment. By the way the test is REALLY easy on a mobile phone. I have had a number of people that I know take the test, and it has nailed each and every one of them to a tee. Is it perfect? Probably not. But it has done so incredibly well for those that I have an intimate knowledge of their personality that it has made a believer out of me. Special Notes: When you take the test, put yourself in a mindset of “work”. Answer the questions like you were thinking about work. Secondly, don’t over think it. Go with your gut and finish fast. I have found that those who take the test and “try” to come up with a certain outcome generally have crappy outcomes. Just take the test, go with your gut and it will most likely come out right.
So what is my personality?
Well, if you’ve looked at the site then you know that it found me to be an ESTP
Here’s some highlights about my personality:
Theory, abstract concepts and plodding discussions about global issues and their implications don’t keep ESTPs interested for long. ESTPs keep their conversation energetic, with a good dose of intelligence, but they like to talk about what is – or better yet, to just go out and do it. ESTPs leap before they look, fixing their mistakes as they go, rather than sitting idle, preparing contingencies and escape clauses.
ESTPs are the likeliest personality type to make a lifestyle of risky behavior. They live in the moment and dive into the action – they are the eye of the storm. People with the ESTP personality type enjoy drama, passion, and pleasure, not for emotional thrills, but because it’s so stimulating to their logical minds. They are forced to make critical decisions based on factual, immediate reality in a process of rapid-fire rational stimulus response.
This makes school and other highly organized environments a challenge for ESTPs. It certainly isn’t because they aren’t smart, and they can do well, but the regimented, lecturing approach of formal education is just so far from the hands-on learning that ESTPs enjoy. It takes a great deal of maturity to see this process as a necessary means to an end, something that creates more exciting opportunities.
With perhaps the most perceptive, unfiltered view of any type, ESTPs have a unique skill in noticing small changes. Whether a shift in facial expression, a new clothing style, or a broken habit, people with this personality type pick up on hidden thoughts and motives where most types would be lucky to pick up anything specific at all. ESTPs use these observations immediately, calling out the change and asking questions, often with little regard for sensitivity.
ESTPs are full of passion and energy, complimented by a rational, if sometimes distracted, mind. Inspiring, convincing and colorful, they are natural group leaders, pulling everyone along the path less traveled, bringing life and excitement everywhere they go. Putting these qualities to a constructive and rewarding end is ESTPs’ true challenge.