5 Reasons People Choose to be an Entrepreneur

Being an entrepreneur is exhausting. From the significant financial risks to working incredibly long hours just to stay afloat as they build their business, who would actually choose that life for themselves?

Someone would choose this experience because, despite how hard the road to being an entrepreneur is because there are significant rewards and joy to be had and celebrated along the way. Those rewards and moments of joy look different for every entrepreneur. Still, our experience has shown us that there are five primary motivations behind people’s choice to pursue the entrepreneur’s life.

Here are the five reasons people choose to be an entrepreneur:

1. People choose to be an entrepreneur because of money.

The majority of entrepreneurs choose to start their own businesses in hopes of making a lot of money. There are so many entrepreneurial success stories, such as Mark Zuckerberg, who make you feel as though you could become an overnight billionaire.

This type of monetary success may not be your exact outcome, but if your idea is good enough and the timing is right, you have the potential to make more money as an entrepreneur than someone who is in a traditional role.

With that said, if money is your only drive for entrepreneurial success, then you are going to burn out. Many businesses starting out take anywhere from a year to three years to actually turn a profit. Make sure that money isn’t your only driving factor to be an entrepreneur.

2. Entrepreneurship offers individuals flexibility.

The traditional workplace is full of demands. As your career in a conventional workplace grows, the demands on your time grow as well. You become trapped working excruciatingly long hours, catering to your bosses and clients, and stuck in a position you just cannot seem to get out of.

As an entrepreneur, you are no longer faced with those demands. You can choose your own hours. If your child has a school activity or function, you can quickly build that event into your schedule. You have the ability to set your goals, and you are responsible for seeing those goals come to life.

Just be aware that setting your own hours does not necessarily mean working less of them. As you embark on your entrepreneurial journey, you will find that amount of hours you must put into your business will seem taxing. After all, you get out what you put in. If you are willing to work harder than anyone else, your businesses potential will soar. But we want to assure you that despite the hours you must put in to find success as an entrepreneur, it is still extremely rewarding. And as the old adage goes, “entrepreneurship is living a few years of your life like most people won’t so that you can spend the rest of your life like most people can’t.”

3. As an Entrepreneur, You Are in Control.

The desire to be in control is a driving fact for many entrepreneurs. When you are in an entrepreneurial leadership position, you report to no one. You have a complete control and ability to call the shots in every scenario that comes your way. Entrepreneurs have full control over every decision made under them in their business, which for some, that along can be an extremely motivating factor as you have no one in the way of your vision.

With the ability to control every decision also comes added stress. What if the decisions you make lead you to fail? In this situation, you only have yourself to blame. Are you ready for the added pressure being in control brings?

4. Teamwork is a Benefit Many Boast About as a Benefit of Entrepreneurship.

Some people thrive when working with others. They enjoy the atmosphere of team-based problem solving and love when they are able to work together to succeed. In traditional roles, you may hold a leadership position that allows you to have a team underneath you, but there is no satisfaction greater than building your own team from scratch.

As an entrepreneur, you control who represents your brand, and you thus have the opportunity to pick individuals to join your team. You get to explore their talents, personalities, and through this, you can ensure that you are never stuck on a team with people you do not like. The people you choose to work for you have the potential to become just like family to you.

5. Being an Entrepreneur Allows You to Leave a Legacy.

Entrepreneurs don’t just want to change their lives; they want to change the world.

Have you ever thought about the lasting legacy that you will leave as an entrepreneur? Throughout our experience with start-ups, the lasting legacy you leave behind, in the long run, can help further drive your success.

Creating something that will outlive you is an incredible motivation for entrepreneurs, as you have the opportunity to change lives. A legacy lasts longer than money or experience ever will. Mark Twain said, “Twenty years from now, you will be more disappointed by the things that you didn’t do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.”

Which of these reasons that people choose to become an entrepreneur appeals to you the most? At iStart, we hope that no just one of these reasons drives you to push towards success. We understand that the more driven you are, the better you will be able to handle any challenges that pop up on your journey.

Before you embark on your entrepreneurial journey, think carefully about what you want out of this entrepreneurial journey. When you are able to understand your own motivations before you start, you’ll find yourself a more satisfied individual in the long run.

Steve Jobs said, “Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma – which is living with the results of other people’s thinking. Don’t let the noise of others’ opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.”

With that said, being an entrepreneur can be a scary journey, but we are here to help guide you to success. iStart is a non-profit business accelerator that focuses on rapid business acceleration for our start-ups by offering core curriculum, workshops, fundraising opportunities, and personalized mentorships with leaders who have grown companies to the Inc. 500 lists. Are you interested in joining the iStart family? Head on over to our website to learn more!