Reasons why you want to be an entrepreneur: As you know, entrepreneurship inherently has risks. Your business idea can either succeed or result in failure. However, there is an urge in entrepreneurship that makes you want to try. Key factors for the reasons why you want to be an entrepreneur are – Passion, desire to create something and make a difference.
Although profits do form a part of the reasons, they are most often an add on rather than a primary one. If however, profit is your main motivator, I’d redirect you to the differences between an entrepreneur and a businessman.
Reasons why you want to be an entrepreneur
As we discussed in the meaning of entrepreneurship and the difference with a startup, an entrepreneur is someone who undertakes risk. Most often, this risk is in the pursuit of an idea that transforms into a business model. As you aspire to develop and build this beautiful thing called a business, you will need a strong suite of reasons why you want to be an entrepreneur.
In the following sections, we explore the 5 key reasons why you want to be an entrepreneur. Please leave us your comments and reasons for choosing entrepreneurship which can inspire our reader group immensely. Key reasons discussed in this article are:
- Feeling of creating/having done something – Establishing a vision
- Creativity – Being free, exploring the limits of your imagination
- Autonomy – being your own boss, setting values, visions and standards, working outside 9-5 corporate routine
- Passion, pride in building a legacy, making something new
- Breaking free from convention
In the sections below, we go into details about explaining the reasons why you want to be an entrepreneur.
1. Vision – the feeling of wanting to create something
A primary reason for most entrepreneurs is the nagging feeling of having an idea and wanting to do something about it. When I look back at my entrepreneurship days, it used to be a common dream which would never let me sleep. There was a nagging feeling which kept asking me to do something about it.
While trying to describe this nagging feeling – common words that came up were passion – ability to make a difference and creating something out of nothing. Money, financial freedom although come up as common reasons – they have a smaller runway. You have better chances of money and financial freedom at jobs and clever investments.
One of the top reasons you want to be an entrepreneur reflects your idea and want to do something about it. More about this in characteristics of an entrepreneur.
2. Creativity – Letting go of limitations to explore your capabilities
The number one reason for wanting to be entrepreneur ties in closely with freedom of choice and autonomy to do things the way you want. It is hard to break rules within the confines of an organisation. The closest you can get into entrepreneurship in a huge organisation is through Large Company Entrepreneurship as we discussed in types of entrepreneurship. Even those are restricted because you’ll need to answer the financial models and work within the confines of the overarching business area.
As an entrepreneur, you can create your own rules, values and parameters which define your business. The freedom in being an entrepreneur is invaluable to define and create rules. The best part is that you have enough opportunity and choice to change these rules when you want to.
3. Autonomy – Being your own boss
Another common reason why you want to be an entrepreneur is the autonomy and ability to be your own boss. Although I have reservations about this reason – I do see it as a common one. Most of us are used to working in a setup under a supervisor. Although sometimes it offers a direction – you are still constrained and expected to work within certain boundaries.
However, for some these boundaries act as a stifling environment for their creativity which needs to flourish. Entrepreneurship does offer this flexibility of autonomy and the pleasure of being your own boss.
4. Passion – to build a legacy
Of all the most common characteristics of entrepreneurs, passion ranks #1 on my list. I’ve often looked back at my dark days in entrepreneurship and wondered why I started something in the first place. The answer always came back to passion and the desire to create a legacy.
It fills me with a certain joy to look back and take pride in the fact of being able to build something from a mere idea. You may recall our previous discussion – ideas are a commodity whereas execution is where the heart of a startup is. The passion and drive to create this difference ranked high in the reason why you want to be an entrepreneur.
5. Breaking free from convention
I was almost tempted to write about the big payout and exponential earnings when a startup is sold or taken over. I have grown to realise that it doesn’t happen in most cases nor in the timeline you want. But a startup does give you a brilliant opportunity to break free from convention.
We all have a single life to make something out of it. I have a lot of admiration for conventional roles – they demand commitment and discipline. Entrepreneurship is the same too – you will possibly play with different rules and break some conventions. But it always comes at more work than in a normal 9-5 role. If wanting to work less is a reason why you want to be an entrepreneur, I’d strongly urge you to reconsider.
A startup will make your work more and demands more energy and passion than a conventional role. It doesn’t always give you the results you want. But, it does give a brilliant opportunity to break away from convention
Summary: Why you want to be an entrepreneur
In summary – I’d only like to highlight the reasons why you want to be an entrepreneur. Please share your thoughts and reasons about why you want to consider entrepreneurship. I strongly believe that your thoughts can inspire many others waiting for motivation to start something beautiful.
It takes hard work and commitment. Please do make a list of all your reasons for wanting to be an entrepreneur. They will guide you and direct you in almost all parts of the journey. Entrepreneurship demands a tonne of energy and commitment. These reasons above will give you those to pursue your dreams.
Becoming an entrepreneurs is definitely a memorable experience, so do not lose faith.