Coutts and the Centre for Entrepreneurs have partnered to explore the dynamics of serial entrepreneurship in the UK, and to provide a guide for aspiring entrepreneurs interested in starting their second, third, fourth or even tenth venture. In doing so, we asked successful entrepreneurs about the secrets and pitfalls of serial entrepreneurship, raising the following questions:
- Does the experience of starting one business make success with subsequent businesses more likely, or are second and third time entrepreneurs simply less driven and less willing to put everything on the line?
- Do the factors underlying business success – funding, networks, confidence, attitudes to risk, knowledge and experience – change throughout the serial entrepreneur’s career, and if so, how?
- What plays a bigger role in successful entrepreneurship: innate ability or experience?