- Main reasons to start as an entrepreneur
- Flexibility
- Control
- Money
- Teamwork
- Legacy
- Opportunity
- Autonomy
- References
The main motivation that leads to entrepreneurship generally has nothing to do with money. Money is seen as an additional benefit linked to entrepreneurship, since the real motivation that leads to it is related to autonomy, independence, teamwork and experience.
Most entrepreneurs choose to build companies from scratch and sacrifice their time, running the risk that these companies will not be successful. They do this motivated by the satisfaction and rewards that can be obtained from this sacrifice (Wilson, 2011).
The reward is different for every entrepreneur. There are those who start their own company because they prefer to manage their time, outside of busy office hours.
On the other hand, there are individuals who enjoy having absolute control over the decisions that are made every day at work, and there are others who believe in the social potential of an enterprise.
In general, being an entrepreneur represents taking risks in the financial aspect. However, when a venture is successful, the reward that comes with it exceeds the limits of money. This idea is the one that mainly motivates people to be oriented towards entrepreneurship. (Alton, 2015)
Main reasons to start as an entrepreneur
Flexibility
Some entrepreneurs who venture to start their own company are because they are tired of the demands characteristic of traditional work. In positions of high responsibility, the demands are exceptional. In this way, people must work longer hours at the service of bosses and clients.
When you choose entrepreneurship, you have the possibility of not having bosses. You yourself become your own boss. In this way, many of these demands disappear, the schedule becomes more flexible, the work is done based on objectives and results, and the workload decreases, in many ways.
However, at the beginning any undertaking is highly demanding. So, it is common to see entrepreneurs working long hours under a lot of stress.
In fact, a large number of entrepreneurs must work harder than most employees within the same industry (Pozin, 2013).
Control
The desire to be in control is one of the greatest motivators for aspiring entrepreneurs for leadership positions. When you take the position of boss, you have the possibility to decide who is going to be part of the company, how much money you are going to earn and what kind of responsibilities you are going to have.
Many entrepreneurs are individuals who have tired of working for large companies and have opted for a career where they themselves are at the forefront of decision-making. However, this position of control brings with it a high degree of stress and responsibility.
There is always the possibility of success or failure. However, when taking the leadership position as an entrepreneur, the responsibility for both success and failure rests with the leader.
Money
Although it is not the main motivation that leads to entrepreneurship, it is a benefit that many startups can obtain over time.
There are stories from successful entrepreneurs like Richard Branson and Mark Zuckerberg that show that any enthusiastic citizen with a good idea can become a millionaire.
However, contrary to this popular belief, making money as an entrepreneur requires a good idea, a well-structured business plan, and the time available to get the company up and running.
Usually, the money does not come when it is sought directly, but it appears as a consequence of the growth of the organization.
Teamwork
Some people love working with other people and like the atmosphere based on teamwork to solve problems. Interaction between individuals is based on mutual respect and it is possible to meet intelligent people willing to collaborate in the company of more individuals.
There are companies that offer the possibility to their employees to work jointly with other people. However, this alternative is truly tangible when a startup is started and leaders have the opportunity to build their own team from scratch.
One of the motivations for being an entrepreneur is to be able to strategically choose the colleagues with whom you want to share a team. Entrepreneurs are usually mentors, and their role is fundamental within the team structure.
For this reason, they have a fundamental responsibility to choose the type of skills, talents and personalities they want for their company. (Macmillan, 2010)
Legacy
Some entrepreneurs are not motivated by money or experience as much as they are by the idea of leaving a legacy. They may want to become the face of a brand and gain a bit of fame along the way. They may also want to leave this legacy to a loved one, passing their company on to future generations.
Motivation in this regard is linked to creating something that has meaning and can last over time.
This motivation is one of the strongest for entrepreneurs, since it cannot be achieved in any other way and it works independently of money or the experience of being an entrepreneur. (Sauser, 2015)
Opportunity
Many entrepreneurs agree that one of the greatest motivations that lead to entrepreneurship is related to the opportunity to really make work what you want.
In other words, as part of a company, you are part of a team, but you have to follow some guidelines related to the policies that are already established within this company.
As an entrepreneur, you can decide what policies you want to implement and in this way you decide how the work should be and what tasks should be carried out. (McMillan, 2011)
Autonomy
Some entrepreneurs simply want to avoid the daily sacrifice that comes with building a professional career and go down a self-sustaining path.
In this way, they are always looking for a way to make their entrepreneurship successful, because they fear having to return to tedious office work.
The autonomy of being what you want, when you want and how you want is one of the main motivators for those who decide to become entrepreneurs.
It is described as the ability to be in charge of your own destiny, having the ability to establish your own life as you prefer. (Baht & McCline, 2005)
References
- Alton, L. (August 12, 2015). Entrepreneur. Retrieved from The 5 Motivations That Drive People to Choose Entrepreneurship: entrepreneur.com.
- Baht, S., & McCline, R. (April 19, 2005). com. Retrieved from What motivates an entrepreneur ?: rediff.com.
- Macmillan, A. (2010). What if your Entreprenurial dream happened? In A. Macmillan, Be A Great Entrepreneur: Teach Yourself. Abigdon: Hodder Headline.
- McMillan, A. (2011). What is an Entrepreneur? In A. McMillan, Be a Brilliant Entrepreneur. Abingdon: Flash.
- Pozin, I. (February 19, 2013). Inc. Retrieved from When the work is hard and the hours are long, these are the reasons founders keep doing what they do.: inc.com.
- Sauser, L. (February 12, 2015). TeachStars. Retrieved from Ask An Entrepreneur: What Motivates You ?: techstars.com.
- Wilson, J. (May 30, 2011). MaRS. Obtained from What motivates an entrepreneur? (Hint: It's not money): marsdd.com.