Today I am answering a question posted on Quora: Why do you think people become entrepreneurs? This topic was on my list for a few weeks, so I am happy for the opportunity.
I see the question in two different ways.
- Why people choose to become entrepreneurs?
- Why people actually become entrepreneurs?
Because I don’t know what was the real intention behind the question, I will share my perspective on both scenarios, including a “secret” part in the middle.
1. Why people choose to become entrepreneurs?
To live life on their terms. And that can mean a lot of things based on our beliefs and values.
- To work on their dream/ mission
- To have “more” impact
- To be their own bosses (which is usually not a good way to start)
- To have more freedom (which doesn’t necessary happen)
- They discover a solution to a problem or a demand they can take care of in a specific market (which is a smart approach)
- To grow and be challenged in the way they want
- To get financial stability, independency or total freedom
To summarize, they want to get some growing results that their job(s) didn’t managed to offer. Or they couldn’t offer it to themselves, inside the work environments they were a part of. What’s funny is that we can have all of that in a job where managers and owners invest in a clear and aligned team culture and in growth in terms of skills, responsibilities, dream fulfillment, even financial growth.
2. What actually happens?
- If they start a business by themselves, sooner or later they realize they become the worst boss alive, because their new boss (them), will always ask for more and more, without appreciating them or giving them a break. They actually create a new job and not a business
- If they do it with a team and it’s their first business, there will be a lot of growth involved, in all the aspects of a business. Financial freedom takes time, freedom and impact don’t come over night, being a leader (and not a boss) is not about being in charge and being always right and they also may forget about the dream, which will lead to work without meaning and chaos. What actually do remain are challenges and growth. And some realize that these 2, even though they are different than expected are the magic fuel for making everything else happen, through character, action, being constant and patience.
3. Why people become entrepreneurs?
Before listing why, it is important to know that an entrepreneur it’s not someone who tries, it’s someone who has a vision, build a working business system and a team, so they can get there together.
- They do the growth part, go through challenges, even when it’s hard
- Invest in leadership (which will impact everything: team, customers, even numbers)
- They are ok with not being the stars all the time, and they give credit to the team for what’s working, while they take credit for what’s not.
- Know, follow and constantly improve the numbers.
What would you add?