Why do you wanna be an entrepreneur?
Categorized under Entrepreneurship
Why do you wanna be an entrepreneur? Sometime back, I had placed this question on various discussion boards, and that received overwhelming responses; an instance of it can be seen at a Facebook Group Discussion Board (please join our Facebook Group for more such discussions).
Well, some of the most popular answers are -
- Freedom/Independence
- Money
- Fame
- Philanthropy
- Power/Influence
But (yes, there is indeed a “but”) to me, entrepreneurship doesn’t look “the right” option to fulfill any of the motivations above! Don’t agree? Well, lets talk about it one by one then.
If your answer is Freedom/Independence:
It’s common misconception that entrepreneurship gets rid of (or even reduces) responsibilities. An employee has to fulfill his manager’s expectations. That’s it! There is a larger audience for an entrepreneur - most important being investors, customers, and employees. The list could extend further with intangible entities like legal systems, competition and laws of profitability. If the business involves partnerships then responsibility spectrum gets still wider.
Of course, delegation is a vital management key. But it takes years to place that key in the right lock. Moreover, it’s not wiser to delegate all responsibilities; at least a good entrepreneur will keep key decisions under own control.
If your answer is Money:
Entrepreneurship may bring great fortune. Accepted. But so are many other options. For example:
- investments into real estate, stocks, funding startups, and the list could go on forever …
- high ranking (and so bulky paying) jobs in big organizations
- creative fields like advertisements, movies, sports, and many more
- politics (at least in some countries)?
Given all other options, building a business has never been the easiest one. So then why bother doing something harder to get the same thing?
If your answer is Fame:
Lets make a list of entrepreneurs known to me, and you. Now lets make a few other lists, one for each of the following professions - movie celebrities, sport stars, scientific geniuses, political heroes (and heroines). And now lets compare! Which one is the largest? Well, don’t tell me its the one with entrepreneurs. Glamor is more elsewhere, isn’t it?
If your answer is Philanthropy:
Usually there are two reasons given by people opting entrepreneurship for philanthropy -
- (a) To get financially strong to accomplish some noble cause.
- (b) To create job opportunities
Well, if your reason is (a) then we have already disqualified money motivation, didn’t we? And, about reason (b). Imagine, there is a person who starts building an organization with the philanthropic purpose of creating jobs. Now somehow, he gets a competitor there. Competition for philanthropy? Well, yes, bear me for few more moments! So now this competitor thinks for a while and (says EUREKA! first) then starts funding startups. Now the question is, who will create more jobs?
I’d say, there are many direct ways to involve into philanthropy like working with a for-cause organization than taking the long (and indirect) route of entrepreneurship. Moreover, building an organization is not a part-time job; it takes much of our energy and time. Sometimes it would make it difficult to care about ourselves; let alone rest of the world.
And finally, if your answer is Power/Influence:
Well, I would just say - how about politics? or government office? Isn’t an entrepreneur’s control restricted to his organization itself?
In fact, none of the above motivation looks the right one to go for entrepreneurship. Entrepreneurship is simply about being a pioneer in the field of business and so that motivation - to make difference has to be there. A strong drive to innovate a business is what both - necessary and sufficient - as far as entrepreneurship is concerned; nothing else really matters much. What say?
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I would want to become an entrepreneur only if I had a vision and I believed in it. I think its all about pursuing something very dear to you for your entire life and when you want to change the way things are done currently. Shaping the future of technology and people is something which would motivate me the most and give immense satisfaction at the end of the day.
As of now I am Just-Another-Software-Engineer(JASE ;)) and learning the ropes. If I do feel in future that I have a problem which I would like to pursue through entrepreneurship then I would do it. But, I guess now is not the right time.
Mm, none of the above motivations are singly a driver for entrepreneurship. They all are:
1) My fave quote from Soren Kierkegaard a phenomenologist “Responsibility is the choice of Freedom and there is no contraception:”.
I can do what ever I like, whenever I like - that’s why I’m am entrepreneur.
2) We all think we want money. really who cares, the more you have the more you want.
3) We all like to be popular and have our name in lights - do it on the Internet - it’s free
4) I did psychology to help people, philanthropy is in my bones but it can’t be done will without time and money.
5)Power depends on what you have to say.
If you aren’t a pioneer, then how can you possibly get ahead of your competitors?
For me enterpreneurship is living life with your own wish and not with wat others force you to do. The thrill of breaking the cycle of secure servant to trying to surf the waves of adventure on your own ship. I would feel control on my life and happy to try different than the tons of people in the channel. The money is just a aspect of it..
Great ideas guys, I like this, “entrepreneurship is living life with your own wiah and not what others force you do” that i think is the best description of entrepreneurship and the other things do not really matter. All of them will come in the loop, You actually get more responsibilities and more to care about when you are an entrepreneur.
I am an entrepreneur because I want the freedom to do things my way, create wealth for myself and be able to help others create their own wealth by sharing my lessons with them.
Most importantly, I want to be a positive role model for young males all over the World and especially young Jamaicans.
I had been dabbling with entrepreneurship since my University days. I contacted all the schools in the UK and then have them agreed to work with me on an overseas programs back in my country. But i got found out by my Dean during my final year and aborted the plan for fear that i may be sacked from school.
I then went on to start an IT company but later closed it after a year due to lack of demand for my product at that time - the market isn’t ready at that time. But i had not given up all there while…..every now and then, i am doing something new…
To me entrepreneurship is something that if i do NOT do it, i will forever regret if i do not try any. Its neither fame nor glory for me but rather having the finances to allow myself to fulfill my “other” dreams. I like to give to people and causes and yet knowing that money is NOT an issue for me…
That’s a nice point, Judy!
I remember a quote which I read somewhere sometime back that resembles your point — “It may not all that important whether one succeeds or fails … what’s more important, for sure, is to know that you had your shot!” :)
I think what you have said is true, today most of the people would like to be an enterpreneur or work at their comfort zone.
Today working in a atmostphere free from tension is required to achieve success and earn more than expected.
I am working currently for a multinational company but felt somewhere I need to start myself as an enterpreneur.
Today one would like to be free from stress and commitments in office and think of becoming an enterpreneur.
I have started my own travel agency with the name Mistiquetravel. I work from home on International & domestic travel requirements.