related articles
translation by alkemist d.o.o.
Summarized from “Trije koraki v podjetništvo - 1”, “Poglej, preden skočiš - Je podjetništvo sploh zame?”, M. Rus, MSc, Prof. Dr. M. Rebernik, Tovarna podjemov.
Urška Č.
Motives for My becoming an Entrepreneur
18.01.2008 ob 07:55Researchers and various analysts have been engaged for years, even decades, in the search for an “ideal entrepreneur”. Naturally, such a person who would possess a perfect and universal recipe for success does not exist. Anyone who comes up with a good business plan can become an entrepreneur. But in order to be successful, an entrepreneur has to possess not only an idea but also a considerable amount of self-confidence and enough determination to realise the idea. At the same time, such a person requires substantial knowledge allowing him or her to make wise decisions at any given moment.
Unfortunately, a mere wish without the right motives does not suffice to make an entrepreneur. First you have to understand that the decision not to become an entrepreneur is worth just as much as the decision to take the decisive step and become your own boss. But the motives behind this decision have to be the right ones!
It is therefore recommended that one is acquainted with the following facts before deciding to venture on the path of entrepreneurship:
- An average business week of an entrepreneur consists of 64 hours. Almost half of the transactions include 21 hours of collaborating with your partner/spouse (thus totalling 85 hours).
- Most people do not increase their income by becoming self-employed.
- The results of a research conducted in the United States show that hard work, perseverance and motivation are the three most important factors of success. The other two important factors also mentioned in the research are honesty and health.
- The support of a partner/spouse is an important factor of success or failure in starting up and operating a company.
- As many as 20% of entrepreneurs have no earnings during the first 18 months.
Entrepreneurship requires commitment and strong will. It involves both psychological and physical effort. That is why it is very important to ask yourself why you want to become an entrepreneur. This in turn requires a thorough deliberation that significantly affects all subsequent decisions. The motives or reasons for wanting to become an entrepreneur are the main driving force of your company. Even when deciding about becoming an entrepreneur, the first question you should ask yourself is what it is that you expect from your life. What are your wishes, your ambitions, where do you see yourself in 5 years?
So you should draw up a list of your wishes; ask yourself why you want this (what are the reasons), what it is that really motivates you. Does choosing the entrepreneurial path suit your future plans? Think well before answering these questions, be thorough, but most of all, be honest with yourself.
For instance, the motives or reasons that might be intriguing and influence your decision to become an entrepreneur are primarily: money, travel, expert knowledge, independence, determination ...
And for each of these reasons you should ask yourself: "Why do I want this?" For example:
1. Money:
- Why? Because I want to buy…
- Why? Because I want status, knowledge, security, independence, etc.
2. Travel:
- Why? Because I want to see the world...
- Why? Because I want freedom, knowledge, experiences, to meet new people, etc.
3. Expert knowledge:
- Why? Because I have always wanted to acquire new expert knowledge, learn foreign languages.
- Why? Because it contributes to my personal development.
- Why? Because I like sharing knowledge with other people!
4. Independence:
- Why? Because I want to be my own boss, set my own goals, tasks, challenges. And realize them.
- Why? Because I want flexible working hours.
These are not questions to which you can find answers in five minutes, so you should take your time in answering them. And take a lot of time. You should keep in mind that the answers to these questions will be the driving force of your business. You should also ask yourself which other reasons have led you to the idea of becoming an entrepreneur. These reasons are of a business nature and represent a heavy weight on the balance of your decision. For example:
- Have you found a business opportunity for which you possess enough expert knowledge and experience to take advantage of yourself?
- Do you possess skill and knowledge that you could use in an independent business?
- Do you have a hobby that could develop into a business you would enjoy doing?
All of the above are the positive reasons for thinking about the entrepreneurial path.
However, if your wish to become an entrepreneur stems from negative reasons such as inability to find employment or the discontent with your present work, it would be better to reconsider. Negative motivation cannot maintain your business in the long run. If your reasons for thinking about becoming an entrepreneur include making a lot of money, you should again think carefully. Bear in mind that most entrepreneurs do not make more money than they did when they had gainful employment and that at least 20% of them earn nothing in the first 18 months.
It is crucial to weigh whether or not your reasons for becoming an entrepreneur are strong enough for you to commit to arduous work necessary for your business idea to flourish and survive in the future.
You should therefore answer the following questions:
- What do you expect from life?
- Why are these things important to you?
- What would you like to do in 5 years?
- Why do you want to do it?
- Does the entrepreneurial path fit in with your concept of life and your future?
- Why does self-employment (not) suit you?
- What are your other reasons for wanting to be self-employed?
Thus, if the thought of lacking money in the beginning of your entrepreneurial path, of too long working hours, of profit far in the future and of occasional lack of support in the family brings up doubts and makes you insecure and less determined even before starting, then you should avoid taking the entrepreneurial path. Because the golden rule of every entrepreneur is to believe in themselves and their ideas, and to address everything one hundred percent or not at all! Entrepreneurship should mean more than just “a possible option”, it should mean “the only option”, because soon it will become your “lifestyle”.
Unfortunately, a mere wish without the right motives does not suffice to make an entrepreneur. First you have to understand that the decision not to become an entrepreneur is worth just as much as the decision to take the decisive step and become your own boss. But the motives behind this decision have to be the right ones!
It is therefore recommended that one is acquainted with the following facts before deciding to venture on the path of entrepreneurship:
- An average business week of an entrepreneur consists of 64 hours. Almost half of the transactions include 21 hours of collaborating with your partner/spouse (thus totalling 85 hours).
- Most people do not increase their income by becoming self-employed.
- The results of a research conducted in the United States show that hard work, perseverance and motivation are the three most important factors of success. The other two important factors also mentioned in the research are honesty and health.
- The support of a partner/spouse is an important factor of success or failure in starting up and operating a company.
- As many as 20% of entrepreneurs have no earnings during the first 18 months.
Entrepreneurship requires commitment and strong will. It involves both psychological and physical effort. That is why it is very important to ask yourself why you want to become an entrepreneur. This in turn requires a thorough deliberation that significantly affects all subsequent decisions. The motives or reasons for wanting to become an entrepreneur are the main driving force of your company. Even when deciding about becoming an entrepreneur, the first question you should ask yourself is what it is that you expect from your life. What are your wishes, your ambitions, where do you see yourself in 5 years?
So you should draw up a list of your wishes; ask yourself why you want this (what are the reasons), what it is that really motivates you. Does choosing the entrepreneurial path suit your future plans? Think well before answering these questions, be thorough, but most of all, be honest with yourself.
For instance, the motives or reasons that might be intriguing and influence your decision to become an entrepreneur are primarily: money, travel, expert knowledge, independence, determination ...
And for each of these reasons you should ask yourself: "Why do I want this?" For example:
1. Money:
- Why? Because I want to buy…
- Why? Because I want status, knowledge, security, independence, etc.
2. Travel:
- Why? Because I want to see the world...
- Why? Because I want freedom, knowledge, experiences, to meet new people, etc.
3. Expert knowledge:
- Why? Because I have always wanted to acquire new expert knowledge, learn foreign languages.
- Why? Because it contributes to my personal development.
- Why? Because I like sharing knowledge with other people!
4. Independence:
- Why? Because I want to be my own boss, set my own goals, tasks, challenges. And realize them.
- Why? Because I want flexible working hours.
These are not questions to which you can find answers in five minutes, so you should take your time in answering them. And take a lot of time. You should keep in mind that the answers to these questions will be the driving force of your business. You should also ask yourself which other reasons have led you to the idea of becoming an entrepreneur. These reasons are of a business nature and represent a heavy weight on the balance of your decision. For example:
- Have you found a business opportunity for which you possess enough expert knowledge and experience to take advantage of yourself?
- Do you possess skill and knowledge that you could use in an independent business?
- Do you have a hobby that could develop into a business you would enjoy doing?
All of the above are the positive reasons for thinking about the entrepreneurial path.
However, if your wish to become an entrepreneur stems from negative reasons such as inability to find employment or the discontent with your present work, it would be better to reconsider. Negative motivation cannot maintain your business in the long run. If your reasons for thinking about becoming an entrepreneur include making a lot of money, you should again think carefully. Bear in mind that most entrepreneurs do not make more money than they did when they had gainful employment and that at least 20% of them earn nothing in the first 18 months.
It is crucial to weigh whether or not your reasons for becoming an entrepreneur are strong enough for you to commit to arduous work necessary for your business idea to flourish and survive in the future.
You should therefore answer the following questions:
- What do you expect from life?
- Why are these things important to you?
- What would you like to do in 5 years?
- Why do you want to do it?
- Does the entrepreneurial path fit in with your concept of life and your future?
- Why does self-employment (not) suit you?
- What are your other reasons for wanting to be self-employed?
Thus, if the thought of lacking money in the beginning of your entrepreneurial path, of too long working hours, of profit far in the future and of occasional lack of support in the family brings up doubts and makes you insecure and less determined even before starting, then you should avoid taking the entrepreneurial path. Because the golden rule of every entrepreneur is to believe in themselves and their ideas, and to address everything one hundred percent or not at all! Entrepreneurship should mean more than just “a possible option”, it should mean “the only option”, because soon it will become your “lifestyle”.
translation by alkemist d.o.o.
Summarized from “Trije koraki v podjetništvo - 1”, “Poglej, preden skočiš - Je podjetništvo sploh zame?”, M. Rus, MSc, Prof. Dr. M. Rebernik, Tovarna podjemov.
Urška Č.
Komentarji: 23