Starting a business of your own requires money, many hours of hard work, patience and the understanding that you might not make a whole lot of money the first year or two or your business could fail completely.
A lot of people think about starting a business, but for whatever reason the idea never becomes a reality. If you’re an entrepreneur who is on the fence about starting a business, this post from luminablog.co.uk will show you some of the things that motivate entrepreneurs to start a business.
Increased Control Over Success
An entrepreneur is sometimes motivated to start a business because he might feel he’ll be more successful if he can control his own destiny. He has the desire to become involved in all aspects of the company’s operation.
The entrepreneur wants to be part of the product design team, sales, marketing, engineering and production. He can also check business loans by himself and choose one to help his business grow further.
An entrepreneur has a very specific way that he feels a successful business should be run, and this motivates the entrepreneur to start his own business and get directly involved.
Making it Personal
An entrepreneur might feel that doing business with a large corporation, or working for a larger company, can become very impersonal. The drive to start a business comes from the desire to put a personal touch back into doing business. Entrepreneurs get to work directly with their customers, as opposed to corporate employees who often only interact with fellow staff members.
Following their Passions
Many entrepreneurs start their own business to follow their dreams and fulfill their passion. Following your dreams will fulfill you in a way that working for someone else may not do. You are in charge of creating your business from the ground up, so you can shape your company to be something you’re proud of and that you may even be able to pass on to your children as your legacy.
Being in Charge
Some entrepreneurs start their own business because they want to be their own boss and in charge of all of the day-to-day operations of a company. The entrepreneur wants to be the one making the important business decisions, determining the direction the company will take, making the call on product development and marketing and being responsible for every aspect of the company’s operation.
Improving Personal Finances
Some entrepreneurs are driven to start their own company out of financial necessity. If a job does not offer enough income, an entrepreneur might start a side hustle to generate extra income that can turn into a full-time business.
Starting your own business has several financial benefits over working for a wage or salary. First, you’re building an enterprise that has the potential for growth – and your wallet grows as your company does. Second, your business itself is a valuable asset. As your business grows, it’s worth more and more. You may decide to sell it or you may hold on to it and pass it down to your heirs. Either way, it’s valuable.
Sense of Accomplishment
Knowing you created a successful business and earning the respect of friends and business acquaintances are factors that motivate a person to become an entrepreneur. They feel that they are offering a valuable service to their customers, and they pride themselves on doing the best job possible. Many entrepreneurs give back to their communities through charitable donations and by participating in charitable events. This feeling of accomplishment and pride is an important factor in starting a business.
Relevance might just be a universal need that we all share.
A part of the human condition is to know that we matter–that our time spent on the earth is valuable and important. Money can bring all the things previously mentioned–freedom, adventure, impact, security–but in the end we all want to live a life that’s relevant.
And if these deeper motivations underlie your overall desire to make money, then they are probably the drives that also lead you to fulfilling work on a daily basis.