When I ask young entrepreneurs who visit me for getting help about what motivates them to accept the challenge of building a new startup and its heavy workload, the most frequent responses are the chance they get to make lots of money, be their own boss and doing something they enjoy. But in this article, I want to talk about 6 motivations that can make you a better entrepreneur.
While these are very rational, I think that the true superstars of today’s entrepreneurial universe, including Bill Gates and Elon Musk, began with far greater ambitions, like bringing digital technology to every household, and building a human colony on another world. So I’m reasonably sure the size of your initial drivers’ scope is a crucial factor in your eventual success.
Naturally, drivers must be supported by certain realities, such as resources required, sufficient skills, constant dedication, and a market of people willing to support your dream. But I’m sure these facts alone won’t even make your dreams true.
I ask every entrepreneur to look inside for any one of these key inherent drivers first, before they begin.
Fulfill a driving need to have your life in control.
I hear a lot about this one but find it enigmatic. Some people are afraid to be in control but find it difficult to make a judgement, or to consider going into a high risk unknown. Regardless of the relentless and volatile need to please creditors, suppliers and consumers, many entrepreneurs I meet believe they will never be in charge.
Great entrepreneurs are eager and keen to resolve these control problems and are genuinely pleased by their embrace of a company owner’s “buck stop-here” role. The outcome is an improved chance of success and the true lifestyle of an entrepreneur.
Desire to make the planet a nicer place.
From my experience, entrepreneurs with an intense urge to save the world, or to feed the poor, have a tremendous head start in the creation of a company. In today’s talk, it’s called concentrating on a greater goal, beyond making a buck. Investors pay a little extra for this method, as do clients.
An instance of an entrepreneur promoting the implementation of this technique was Yvon Chouinard when he formed Patagonia. His team succeeded by putting their “goal” to save the world first, and doing anything else right for profit.
Satisfy the need for personal satisfaction.
There are no such hard, yet satisfying, challenges in life as the ones you place for yourself. Sadly, all of us, including friends, partners, investors and managers, are motivated mainly by others. If you start a company to appease someone else, the work gets tougher, with a high likelihood of failure.
Before his success became evident in an old interview, Elon Musk did admit that what impressed him most about becoming an entrepreneur was that it’s like a set of poker games in which he could gauge his achievements with how many chips he could hold.
Need to show the world your idea is real.
I was fortunate enough to meet Bill Gates in the early stages of personal computers, when so many people believed computers were out of control. I ‘m sure he had little or no idea of the personal wealth he would gain in pursuing his dream, he was motivated by the desire to show to the rest of us the worth of the personal computers.
Aim to help people improve themselves.
Any visionary can be a strong catalyst to encourage others to accomplish their goals. It is the origin of all the “customer-centric” messaging and behavior. If you reflect on how the solution adds benefit to the clients instead of just benefit for you, the simple equation of any company would have been fulfilled.
Build camaraderie with individuals whom you admire.
The majority of people derive a tremendous sense of fulfilment and success from forming relationships with the people they like and respect. Successful entrepreneurs find excellent personal yields from their ability to create joint friendships with people they appreciate, with innovative solutions and large follow-ups.
My goal here is to encourage you to truly consider whether you want to pursue a startup. Don’t try to trick yourself into thinking that entrepreneur lifestyle is indeed a simple one, or a quick way of getting rich.
The folks around you, including the colleagues, partners, and clients, will see that instantly, making the work even easier. We understand your happiness is related to ours.