I’ve started ten businesses in my thirty-plus years as an entrepreneur and I like to say that my record is “7-2-1.” The “one” being a liquidation where nobody got hurt and nobody got rich.

In all, I have one huge “score”, a few “decent paydays”, and a spectacular bankruptcy (the best learning experience of them all, BTW) on my resume.

But you know … there is one thing about starting and growing businesses that as I grow older, seems to be immutably true: “the second ‘Hit Record’ is very, very difficult to produce!”

Oh, we all try. And sometimes (sadly), we end up “giving back” every single dime from both our “decent paydays” AND our “one huge score” along the way! More likely however, it seems that smart entrepreneurs will lose a significant part of their aforementioned “pile” of cash before they find some graceful way to slink out the back door.

But very few entrepreneurs ever make a second hit record that even approaches the magnitude of their first. As Yogi Berra once said, “It’s true --- you can look it up.”

Think about it --- Go back and read stories from nearly any business magazine in the eighties and you’ll read articles and see names of wonderful entrepreneurs who really slammed one out-of-the-park.

But today most of these same guys are virtual unknowns --- slaving away at some vacuous reprise that, and alas, will likely never take the substantive form of their forbearer company.

Why is this? Well, I personally think that while so much of “hitting a home run” is the idea and the skill and perseverance to capitalize on that one great idea, there is also more than just a small portion of luck involved as well.

“God smiles on start-ups”, a caller to my radio talk show once said. And this is also true. For some reason (and you guys who have “been there” know this better than anyone!) good things “just happen” in a start-up that is destined for the stars. For example, the “right” people show up to work for you precisely when you need them. Early customers prove to be the “right” customers --- they are not too demanding, they overlook your indiscretions, they pay their bills on time, they give great references, and so on.

And don’t forget markets --- sometimes your product or service is “just right” for a vortex market “wave” that is still a hundred yards offshore and just beginning to form its curl as it roars towards the beach. All of a sudden, you find yourself “in the pipeline”, getting the surf ride of your life; and if you’re honest with yourself, you don’t even know why!

Right now I can envision many of you veteran entrepreneurs nodding your heads and saying, “A-Yup. The guy’s right”

 Hey --- I ain’t no Miss Cleo, I’ve just lived a long time. I’ve just seen this stuff happen way too often.

So what’s a successful entrepreneur to do?  After all, it is very hard to climb down off of an F-18, “rejoin the working world”, and then just sit and read books, is it not?

Well, take it or leave it, but here’s my advice. Once you hit your home run, go directly to the bench, and from there, directly to the locker room. Then, take a shower, get dressed, and go home to your family.

And whatever you do, don’t “jump back in” to the next night’s ball game. Instead, catch your breath. Think and reflect on what happened and why it happened. Remember, the worst thing that can happen is that you earn interest on your millions!

Remember, You have nothing to prove. You have already done it. You climbed the mountain and you have a piece of turf in your back pocket to remind you that you climbed it!

(Welcome to the land of mixed metaphors.)

In other words, take some time. Observe. Maybe instead of looking for that “next great business” for yourself, you should instead look for some guy just LIKE you who seems to be in line for HIS “run”, but lacks only money and sage advice (but not TOO much advice!). Since you have been there, you should be able to find this person. (But again, don’t assume that you are the only person who can find a promising situation --- once again, you’ve forgotten the “luck factor”! My advice is instead maybe find a guy with no emotions or biases --- a guy like Frank Demmler at the Future Fund --- to find your next great investment FOR you! )

But in all cases, just “step away” from the limelight and the “action” until you can be sure of what happened and why it happened.  Don’t be sprinting along looking for a vehicle where you can blow your nest egg.

Never forget that, and despite the fact that you “did it once”; you truly may NEVER do it again. For this is likely the case, at least in my opinion.

But hey! What were the odds that you could do it even ONCE? A thousand to one? (Sounds about right to me.) And don’t forget, you also had the thrill of a lifetime along the way and at the end you were paid handsomely for an incredibly significant achievement.

And if you still must have some “thrill ride” to keep you juiced, take up skydiving or bungee jumping. Or, do like I did --- have two kids at age 52!