A fascinating new study posted today indicates that successful serial entrepreneurs have a 50% greater chance of success in subsequent start-ups than either first time entrepreneurs or those whose first venture failed. These individuals were also more readily able to raise venture capital funding and did so under less onerous terms than first-timers.

While on the face of it, Professors Paul Gompers and Josh Lerner are delivering sobering news to first time entrepreneurs, there is a silver lining. The pair outline strategies for newly minted ventures to increase their chances of success by partnering with previously successful founders. Successful entrepreneurs demonstrated particular skill in the areas of market timing and effective positioning of the start-up as a “sure thing.”

Read about this new study in an HBS article on “The Success of Persistent Entrepreneurs.”

A great way for first time entrepreneurs to gain some of the advantages of prior success is through participation in NWEN’s new Mentor program which matches early stage founders with experienced entrepreneurs in an unstructured venue for advice and coaching.

This article was posted by Seattle serial entrepreneur and NWEN Board Member Hoyt Prisock. He is currently incubating two new businesses in the tech sector and blogs at Bigshoebox.com.

Tags: HBS

This entry was posted on Monday, February 2nd, 2009 at 10:07 am and is filed under Entrepreneur resources, Raising money, starting a company. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.