What's the motivation?

Being an entrepreneur is not easy. It's a long hard road, so one must really want to take it, unless one is clueless, in which case one is in for a rude awakening. So what makes someone want to be an entrepreneur?

#1. The money. This is very likely. Think of all the millionaires who started their companies and parlayed them into oodles of dough though IPOs and acquisitions. Of course, entrepreneurs are also likely to hear that 8 out of 10 startups will not survive year 3, and even if it is a somewhat bogus statistic, it does make you stop and think. So maybe it's not only the money.

#2. The boss. There are many people who prefer working for the one facing them in the mirror. And if that person is actually competent, it may even be a halfway decent gig. Many of the entrepreneurs I've met started their own businesses because they wanted to be the master of their domain (not Seinfeldian!). They've had unpleasant experiences working for others that they do not care to repeat (surprisingly quite a few of them mention compromising on principles as one of those unpleasant experiences). They like to be in control of their destiny, and because of their intense commitment to success, and willingness to take risks, they are confident they'll do a pretty good job of it too. And many of them do.

#3. The alternative. Or actually, the lack thereof. There are some people who 'fall back' on doing their own thing because they haven't liked anything they've found, or haven't found anything they liked out there. And they could be pretty successful too, although they're unlikely to create the next Google.

#4. The dream. My personal favorite. You have an idea, and you know you'll be kicking yourself if you don't do it and someone else does. Or you have an idea that you think will rock the universe (or the part you care about), and can't wait to prove it. Or you have an idea that you're crazy about, and you're quite willing to work on it with/for someone else (especially if they fund it), but nobody else seems to care enough, and you just can't let it fade away - so you go out and do it yourself. This is where you see the passion of the entrepreneur. And when the going gets tough, as it undoubtedly will, it is the passion that will help the entrepreneur stick with it. As another entrepreneur told me "If you're in it for the money, when things get really bad you'll be ready to chuck it as you know you can make money somewhere else. But if you're passionate about the idea, you'll stay. And make it work. And the money will come." Maybe he knew what he was talking about as he's now worth over a 100 mill.

For a more 'professional' view check out http://www.successmanifesto.com/.

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