What motivates people to live the harsh life of an entrepreneur? Is it money? Is it independence? Or something completely different? Here are our top 5 reasons why people want to become entrepreneurs.
1. To make their own Money
Let’s be honest. The main reason why people become entrepreneurs is to become financially independent. They want to make their own money. With their own idea, with their own effort, and with their own name on it.
A big benefit of making your own money is that the amount of it is up to you. Your salary does not depend on the decisions of other people. It is not limited. With great work comes great reward. If you do your job right, you can even become a millionaire. This achievement is hardly possible in a common corporate job.
You might remember when you got your first job and received your first self-earned money. For many, this moment of joy is one of the best memories of their adolescence. What if I told you, that you can re-create this magic moment? Making the first profit with your own established startup – now that’s some feeling of happiness only a few people are able to experience. What’s even better: It is more fun to spend money that you earned through hard work. Everyone knows that. Let it rain!
2. To be their own Boss
Some people just are the typical leader type. They hate it to be bossed around and when things don’t go the way they want it to go. Those people struggle heavily with putting in effort into the work of other people. They want to realize their own ideas, in their own way.
More importantly, they do not want to be bound to the classic 9-5 working routine. For them, it is boring and unfulfilling to work for other people’s dreams. They feel like they cannot realize their ideas and express their creativity to its full potential. These individuals just don’t fit to the corporate lifestyle. And this is good. The world needs people, who think outside of the box.
As an entrepreneur, you can set your own working time. As you will have a lot to do as an entrepreneur, time management skills are a necessary requirement. A common saying from Lori Greiner is: “Entrepreneurs are willing to work 80 hours a week to avoid working 40 hours a week.” It sounds contradictory, but it’s true. The first years will be very rough and you need to work much more than you would in a typical 9-5 lifestyle. But as long as you have the right entrepreneurial spirit, everything is possible. And in the end, it will surely pay off for you.
3. To control the decision-making
When you work for a company, you are always somehow subordinated. Even in high positions, where you already have a huge influence on the decision-making processes, you still won’t have the final word. Even though you are convinced your next strategy will bring great results – as long as the CEO doesn’t like it, there is nothing you can do about it.
People, who want to become entrepreneurs, want to realize their ideas in their own way. They want to be the ones who make the final decision. Even if they are wrong in the end. Taking responsibility for wrong decisions is part of the duties an entrepreneur has to fulfill.
4. To pick their own team
Everybody, who worked on projects in a team, will agree: Group work sucks if your team members are complete morons. It is pretty frustrating, when your team is talking past each other, the work amount is not equally divided or you just simply don’t get along with each other. A bad team brings unnecessary problems, that will negatively affect the overall performance, creativity and motivation of the team.
An entrepreneur knows the importance of the right team members. When the team members harmonize with each other, it feels like everything is possible. That’s why one of the top reasons for people to become entrepreneurs is the possibility to choose their own team.
5. To leave behind their own legacy
Some people feel like there is more to this world than just fulfilling their societal duty and work until they are old enough to finally retire. These people have something bigger in mind: The dream of changing the world.
The dream of changing the world lives in all of us. Everybody has the potential to realize this dream, but only a few are aware of this. A person, who wouldn’t believe they can achieve their dream, wouldn’t be able to become an entrepreneur.
Entrepreneurs want to leave something behind. A legacy. Even after they are long dead, their spirit lives on through their work. Karl Benz left us a revolutionary way of transportation: The automobile. Gutenberg left us the possibility to print and share our knowledge. And Walt Disney even left us a childhood.
What legacy do you want to leave behind?
Motivation comes from within
Obviously, motivational factors differ per person. Maybe your reason for becoming an entrepreneur is not even in the list. In the end, it doesn’t matter what your motives are – as long as they motivate you to keep going and reach your goals.