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forth effort, both the thinking effort and the effort involved in bringing one's ideas into reality. When multiple entrepreneurs pursue opportunity, their personal drive motivates them to take action in making it real. The personal drive consists of four aspects, namely ambition, goals, energy and stamina. Ambition influences the degree to which multiple entrepreneurs seek to create something great, important and significant when they pursue multiple opportunities, whereas the nature of the multiple entrepreneurial ambitions may include making money, or the desire to create something new, from conception to actuality (Locke and Latham, 1990).

Entrepreneurial ambition to operate multiple ventures translates into setting high goals for one and others (Locke and Latham, 1990). High multiple venture goals lead to better performance results than moderate or low goals and to achieve such high goals requires enormous energy and stamina. When goal-directed energy is sustained over time, the multiple entrepreneurs develop the confidence necessary to see the efforts come to fruition (Locke and Latham, 1990).

Shane et al (2003), on Human Resource Management Review, argue that there is a strong motivation derived from an entrepreneur's egoistic passion, which is more precisely a passionate, selfish love of multiple entrepreneurships. The Multiple Entrepreneur's Ego is the central motive, whereby the egoist multiple entrepreneur passionately loves the work i.e. they love the process of building many ventures and making them profitable. They are motivated to do what is actually in their own interest i.e. to do everything necessary. Surprisingly, there have been virtually no quantitative studies of the role of passion in multiple entrepreneurships (Baum et al, 2001)

The above literature have contributed significantly to research by providing a foundation to better understand entrepreneurial characteristics, as well as situational factors that motivate multiple entrepreneurs. Different motivational factors have been stated and analyzed. Different models such as push/pull, have revealed that multiple entrepreneurship can result from both positive and negative factors, while the internal external theory have revealed that the drive for multiple entrepreneurship might come from within oneself, or from extraneous circumstances. However, very little light has been shed on serial entrepreneurship, and thus forms the basis of this study

2.1. Multiple Business Entrepreneurship

Portfolio entrepreneurship, i.e. the concurrent ownership of several businesses is becoming an important theme in the small business research literature. There has been a considerably low empirical dedication to investigate the phenomenon (Sara Carter, 2003). To have a better recognition of the phenomenon, the study therefore analyses multiple entrepreneurship from a wide range of subject literatures including economic sociology, cultural anthropology and agricultural economics, based on the tendency to which the modern entrepreneurship is taking, so as to offer a deeper understanding of the motivations for such entrepreneurship and the processes associated with it.

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