Looking for a Company to Run? Search Funds Could Be the Answer (Knowledge@Wharton.com)
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"They had a higher propensity for risk, innovation and achievement. They were less scared of failure. And they were more able to recover when they did fail. Beyond that, many serial-preneurs bring tactical advantages from their first venture to apply the second and third time around. For instance, they recruit top talent from their original companies to subsequent ventures. They double-dip financially, getting money -- and connections -- from people who backed their earlier brainstorms. Several lean heavily on a trusted partner for financial, professional and emotional support in whatever endeavor they undertake.
Part of the CEO's task, then, is to ruthlessly assess him or herself as the business context changes. "Do I have an understanding of what's needed now in terms of new leadership requirements? Do I have a sense of my own leadership capabilities? Can I understand the gap between what's required by the new situation and what I'm capable of doing?"