Most people believe that entrepreneurs do what they do because of the profit it brings. While money is a good enough reason to launch a business, in most cases, it is the farthest thing in an entrepreneur’s mind.
As legitimate a concern money is, it is not what drives an entrepreneur to take risks in business.
Top Things that Drive an Entrepreneur to Take Risks and Keep Going
Anyone can be an entrepreneur. A well-known land surveyor, for instance, can successfully transition to being an entrepreneur given the right attitude and motivation. However, it takes more courage and greater discipline to succeed as one, especially since entrepreneurs measure success differently compared to the typical business owner.
Normally, a business’s success is measured by the profit it makes, its bottom line at the end of the year. And while entrepreneurs also use this to gauge how profitable and stable their businesses are, money is not the end-all and be-all for them.
Here are the top seven drivers that motivate entrepreneurs to take risks and launch businesses:
1. They want to meet people at the point of their needs.
Wherever you look, you will always find a certain need that has yet to be met. In an entrepreneur’s eyes, these needs are magnified, and they are moved to take action to help meet these needs.
Their minds immediately crank out ideas on how to solve the problems they see because they want to be instrumental in meeting these needs as much as they can.
2. They have an innate desire to create and innovate.
They may not be creative artistically (although some are), but most entrepreneurs are creative and artistic in their own way. Their ability to dream up unique ideas and concepts ahead of their time sets them apart from regular business owners. They don’t just open an existing business model.
They create a new one and build everything from scratch. They find ways to circumvent the existing norms and continue to push boundaries with fresh ideas.
3. They want to improve the world around them.
Generally, entrepreneurs are altruistic and only want to make the world a better place. They see a need; they feel inclined to meet those needs to improve peoples living conditions.
4. They want to be recognized as a leader and expert in certain fields.
Sometimes, an entrepreneur is driven to action to make a name for himself. They view recognition as a goal to be achieved, so they set out and do whatever they can to gain the recognition and respect of their contemporaries.
They carefully and thoughtfully craft their plans and do their due diligence in learning as much as they can to become pioneers and experts in their chosen field.
Sometimes, they don’t even need others to stroke their egos. They could contribute a lot to society is more than enough to make them feel good about themselves and their achievements.
5. They want to constantly be challenged and kept on their toes.
One of the things that keep an entrepreneur going despite the risks involved in launching startups is the need to challenge themselves every day. They look at challenges as opportunities for growth. It is this mindset that allows them to keep moving forward amid the risks involved. They believe that both success and failure have something valuable to teach them. As cliche as it may sound, the destination is not as important as the journey.
6. They want to learn as much as they can.
An entrepreneur’s desire to make a difference pushes them to keep challenging themselves to know more and be more. And as they become more, the more they realize that they need to know more. The learning cycle never ends for them.
They hold on to the tenet that knowledge is power. They need this power if they are to make a difference in this world.
7. They want to make a positive impact and leave a lasting legacy to the world.
Earlier, we mentioned that most entrepreneurs are altruistic and have nothing but the best intentions whenever they set out to do something new. They know they exist for a purpose greater than just making money. They are aware that money does not make the world go round, as important as it is in life. They know that they exist to positively impact this world and leave a lasting legacy for future generations.
The bottom line is that entrepreneurs are driven by an internal desire to make the world a much better place. They do this by constantly challenging themselves to always be better at what they do and to improve the living conditions of society. It is this desire for excellence and service that makes them stand out.