Portfolio entrepreneur

The portfolio entrepreneur, and the variant "serial entrepreneur", knows that failure is the bass-line beat of entrepreneurship. The secret of success is to fail well and fail often.

There are no dead-cert ventures. In fact many are just dead, and pretty quickly. Others drag on before they finally succumb. Part of the art is to know when top get out. [You could read Seth Godin's "The Dip" though I found it all pretty bloody obvious]. But the larger part of entrepreneurship is the ability to pick yourself up, dust yourself off, and do it all again knowing there is a good chance you'll end up with another mouthful of dust. The trick is to learn for failure, and to be ready to exploit success to the hilt.

The serial entrepreneur bangs away, one after another. The portfolio entrepreneur is more sophisticated. Have multiple lines of revenue at different stages of maturity, and spread attention across them. The advantage is that a successful activity funds other start-ups, and new ones come on line as others fade away. The danger of course is that you spread yourself too thin and nothing gets the attention it deserves.

But I think blogging and writing and such web activities lend themselves to a multi-tasking approach. Invest a little time (just a few minutes every few days) thinking about your portfolio.

  • what is ready to be killed off or abandoned?
  • what is doing well and can be left to its own devices (we'll talk about automation another time)
  • what is a bit neglected and in need of attention? (this alwqays seesm to be the biggest list)
  • what ideas are sitting on the shelf waiting to be tried?
  • where can you look to find or stimulate new ideas to be put into the waiting list?