Generally, what does a typical entrepreneur do? He comes up with a pretty cool idea, starts his own enterprise, channelizes his effort, dedication, and hard work into making success and ultimately aims to rule the market with his product or service. But, Serial entrepreneur ???? What does he do ???? Who is he actually ???? Well..!!! A serial entrepreneur is the one who comes up with a great business idea, starts a firm and then transfers the full responsibility in the hands of another individual and move on in search of new ideas and new venture and new business model. Thereby serial entrepreneur is a planter of new and cool business ideas.
An entrepreneur is a person who searches for good opportunities to make benefit and money. They basically generate the idea from the pain of a customer and sell the solution for money, that is the trait of an entrepreneur. They are creative and innovative business people, which high amount of adaptability. Because the business and the world is prone to changes and revolution, so when that is the case, they make themselves highly flexible and adaptable to achieve success. Serial entrepreneurs create an innovative business idea by staying ahead and understanding the business environment.
Can A Serial Entrepreneur Learn From Traders ????
Well..!!! Though a serial entrepreneur does not get involved with the day to day activities of the enterprise, but he is the key behind framing up of ideas and strategies. So, there are certain things and notes which he could learn from a trader and keep in mind when plotting a new business opportunity or venture.
Analysis and Assessment:
Considering the fact that a serial entrepreneur would definitely analyze every nook and corner of the idea. But then, traders analysis on a very sharp note when the point is about their product and business. Because they are the planners as well as the doers. They watch the market and condition by experiencing it. Thereby a serial entrepreneur can learn how to analyze and assess the company, market demand and supply, currency and much more. Because traders are more witful as they find stuff in the business environment quickly.
Networking means establishing a good set of communicative relationship. The more you network with people the more you come across different opportunities. Traders play the game of networking pretty well, because they have to appeal a variety of parties to make a good sum of money. The trader has a good experience and knowledge in the field of work which makes networking easy for them. Therefore a serial entrepreneur should learn, how to develop good knowledge and own viewpoints on the subject as it helps establish good networks for a fruitful business.
A trader can teach you better about the functioning and working of a market. Which helps the entrepreneur learn how the demand and supply factors work in the market. With that they also get an opportunity to come across the stock market and stuff which helps them know the areas where things actually work and the areas where things actually fail to succeed. This understanding would help him determine the right mark for his business idea and frame the idea accordingly. Above all, they also learn to follow rules and discipline for benefits.
Learn stop loss:
Stop loss is a point where an individual sells the commodity or the product for some rate in order to avoid loss. This is one of the beneficial qualities in a trader as they limit themselves appropriately to losses, if things are not working as expected, they prefer to stop loss to try something better and effective. Whereas an entrepreneur sticks with that and keeps hanging with it making the situation worse. Therefore, they should learn from the traders how to have control on loss without the destroying life span and effort.
Well..!!! An entrepreneur should behave quite normal by setting their ego’s aside. They should give themselves a fair chance to learn and understand things in a broad sense. Just like a trader, he should plan the entry and exit appropriately. Because building a good map in the cycle of business is very helpful. Since, a good planning helps you learn about a variety of risks and associated factors. Risk management involves a variety of stuff like Execution planning, Stop loss planning, Risk analysis and Failure Mitigation Effect Analysis etc.
Thereby, there is a variety of stuff a serial entrepreneur can learn from the trader. Because innovating a new business opportunity sounds pretty good, but then maintaining it in the long- run is a tricky task. So, learning and knowing wider things are better.