What is an example of a successful serial entrepreneur from

What is an example of a successful serial entrepreneur from the “PayPal Maffia”. Explain why the success for a serial entrepreneur.

Solution

Paypal Mafia refers to former employess of paypal who went out founding many other companies which includes Linkedin, Yelp , Yotube etc.The enterpreneurs who actually belong to this Paypal Mafia , are known as serial Enterpreneur.

Lets ascertain the success story behind one Serial Enterpreneur from paypal Mafia, Reid Hoffman, who is one of their billionaire member.

Reid Hoffman was founder member of paypal & he went on co founding Linkedin , & was early investor in Facebook, Zynga, Aviary , Friendster & ,lot others.

1) identifying the other It factors for winning

Reid Hoffman identified three important factors so as stand out of the crowd & win the market , which are

- better distribution technique

this will allow the enterprener to market the product in a wide market & will help him fight off the suplly curbs , which may finally impact the demand pattern

- unique product

Uniqueness of the product should be markeatable so as to gain mass popularity & mass appeal also.

- Product which will entail a whole new industy itself

uniqueness of product will also create a never before market for the new & fresh product.

2) Great work speed & quicker learning for rapid changes

This will entail the rapid adapting of the prodcts with changing market , price & other related factors.These factors definetely bring edge to product to stand out in the market.

3)Well calculated & planned risk taking

Risk taking is essential feature of enterpreneurs but the risks should be always be well managed.The probable impacts should also be calculated well in advance.

4)Aim big bbut have a plan B ready

Always aim for no 1 position , but be ready for any deviations by keeping alternative options open.This wold provide safety cushion to the uncertain nature for the prodct success.