Serial entrepreneurs Some entrepreneurs make a living by starting up new businesses and selling them on when they get to a certain size. They do not like large organizations and know what they are good at doing. Jonathan Ruff set up LED Hut in 2011. It sells a range of light products, including LEDbulbs, mainly to trade buyers. By 2013 it had some 60 staff and made a profit of £750,000 on a turnover of £17 million. In 2014 he sold the company for £18 million to US retailer Batteries Plus Bulbs, agreeing to remain as CEO for two years. This was in fact Jonathan’s fourth business venture. He started at the age of 17, selling mobile phone accessories on eBay before starting other businesses that he sold-on.‘I like building things from scratch. When a company gets to near 100 employees or sales of £40 million, it isn’t for me.’ (The Sunday Times, 7 September 2014)
Question:
1. What do you think motivates somebody to become a serial entrepreneur?