Global entrepreneurship is on the rise. New entrepreneurs, the burgeoning titans of the world, are starting the next generation of global revolution. These entrepreneurs are starting up small businesses in their garage, second bedrooms, and basements. And in the process, setting their own goals, chasing their side hustles, and as it turns out, can be some of the most innovative and valuable employees in our changing business world. These inspired entrepreneurs are looking to better their lives; they may have one, two, three or more projects they are working on at any one time.
The problem? A serial entrepreneur’s resume doesn’t always tell an accurate story to a prospective employer about the individual in question. While human resource directors aren’t necessarily able to get a good read from these individual’s resumes, serial entrepreneurs, those who have many irons in the fire at all times, are some of the most dependable and innovative employees a company can hire.
Prospective employers may assume these individuals are without focus–but does Richard Branson who started the Virgin Group and now controls more than 400 companies lack focus? Is Mark Cuban who oversees interests in nearly 100 different companies unreliable?
Job security is pretty much a thing of the past–jobs you begin in your early 20’s are no longer the same ones from which you’ll retire. Four years is the new median current employees stay with a job. That’s a far cry from baby boomers who generally remained at the same company for twenty years or more, and are loyal to one company who’s likewise invested in them.
Entrepreneurial momentum has been building in the United States–up over 3% in the past two years, with a vast majority of these individuals, a staggering 86.3% over 40 years old. The trend for 2018 shows even more people starting up their businesses with success in our current economy, with around 550,000 individuals joining the entrepreneurial ranks each month.
As an employer, you should be looking to hire these highly-successful, and driven people to harness their energy and ideas for your own business. In 2017, a study by Kathryn L. Shaw and Anders Sorensen proved that serial entrepreneurs have a 67% higher sales rate than non-entrepreneurs, and these same individuals are 39% more productive.
The Richard Ivey School of Business found in a study that serial entrepreneurs also become more successful over time, galvanized by previous failures. The study’s theory showed there’s enhanced performance trajectories in an entrepreneur’s endeavors, not excluding their positions with employers.
Many of these business owners possess the most sought-after qualities that employers are looking for; they are motivated self-starters, they can keep going even when the going gets tough, they are critical and creative problem-solvers, and have the social skills necessary to build great teams.
Most companies, however, are terrible employers of these super-talented individuals and end up losing them. The reason–most entrepreneurial individuals, are not made to be micromanaged. They are go-getters, who, if given a clear strategy will not only out-perform other employees, will find new and innovative ways to take a business to higher success.
These employees need to know they’re valued, not promoting them or restricting them with too many rules will provide you with frustrated employees who will find somewhere else to harness their creative juices becoming excellent performers and top-earners for someone else’s company.
If you’re looking for the best and the brightest employees, search no further than a resume full of entrepreneurial endeavors and let these innovative individuals take your business to a new level of success.