10 Best Reasons to Be an Entrepreneur
When the work is hard and the hours
are long, these are the reasons founders keep doing what they do.
I recently asked fellow members of
the Young
Entrepreneur Council--an
invite-only organization made up of the world's most successful young
entrepreneurs--just what it is that makes them work so hard. Money? Success?
Autonomy? Or do entrepreneurs just have big egos?
Being
an entrepreneur myself, I wanted to know why others work with such persistence
and dedication. I know that for me, it's not about money. Money is just a
byproduct. So is it the same for others?
Not
one of the entrepreneurs I spoke to mentioned money as the motivator.
Surprised?
Don't be. When I write about company culture, I often note author Daniel Pink's
philosophy that once money is off the table for people--meaning it's no longer
a stress point or constantly on their mind because they're paid enough--they
become driven by autonomy, mastery, and purpose.
So
what are entrepreneurs driven by, if not money? I got more than 20 responses
from the entrepreneurs at YEC. Here's what they had to say:
1. Opportunity
Susan Strayer Lamotte, a leader in
talent acquisition and HR, says she's motivated simply by "doing great
work. That's the difference," she explains. "All the other stuff is
gravy, but as an entrepreneur, I can decide what the work is like. What I get
to do. And that's the mecca for me."
2. Autonomy
Some entrepreneurs simply want to
avoid the daily grind that comes along with a career that isn't
self-sustaining. Says Aron Schoenfeld, founder of Doitinperson.com and DreamArtists
Studios,
"Fear of failure is what motivates me to keep going. [I'm] scared of going
back to corporate and being a robot again."
3.
Freedom
Aaron
Pitman, president and founder of API
Domain Investments,
agrees. "Freedom is my driver," he says. "I always wanted to be
able to call my own shots, be in charge of my destiny, and have the ability to
set my own life."
4. Responsibility to society
For other entrepreneurs, there are
bigger societal issues driving their work. "For me, it's also about an
alignment of story," says Josh Allan Dykstra, a consultant, author, and
speaker. "As entrepreneurs, we are always analyzing the state of the
world, examining the larger stories that are playing out on a macro/global
level. While we strive to make sense of these big-picture stories, we are also
searching for the places our personal strengths and passions can make a larger
impact on the world. We make the most difference when we find where the
intersection point of the thing that makes us feel alive also lines up with the
bigger story, allowing us to improve society in some meaningful way."
5. Impact
Justin Beegel, founder and president
of Infographic
World,
explains: "[I love] knowing every action [I] take truly has a direct
impact on the outcome of the business. When you're an employee...what you do
has limited impact. When you're running the company, each and every thing you
do can make or break it."
6.
Family
Ari
R. Meisel, an entrepreneur, author, inventor, and triathlete, says what drives
him to entrepreneurial work is simple: "[I love] being able to spend as
much time with my family as possible."
7.
Change
Trace
Cohen, founder and president of Launch.it, says what drives him is seeing change.
"My current and previous company have all been about providing value to
our users to enhance what they are currently doing to
either make it better or more efficient."
8. Legacy
Forging a lasting legacy is
important for many workers. Both Dave Kerpen, CEO of Likeable Media, and Lewis Howes, lifestyle entrepreneur,
noted that leaving a personal legacy is a huge motivator in their decision to
do entrepreneurial work.
9. Accomplishment
"That is what truly makes
people happy, a sense of accomplishment," says Pablo Palatnik, CEO at ShadesDaddy.com. "That's why I do what I do every day, to accomplish my goals,
and that [means] building a successful company."
10. Control
Some entrepreneurs are driven by the
sense of security that comes along with being in full control of their work.
Joey Ricard says control of his own destiny--"or as some people like to
call it, security"--drives his entrepreneurial efforts.
I'm a big believer that money is not
what drives people to work hard. If you want successful, happy workers, take a
cue from what drives you. Freedom, flexibility, social responsibility, the
ability to do great work? Provide your workers with opportunities to thrive in
these areas, and you won't have to deal with workers who are motivated only by
money.
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