So You Want To Run A Business?

Which Budding Entrepreneur Are You?

There are 2 types of entrepreneurs. The first type is the one who suddenly wakes up one morning with a light bulb flashing over their head. They jump out of bed, fully charged up and within a month have set up their own business!

The second and most common type of entrepreneur is the one who also has a flash of inspiration but takes a bit longer to gather momentum. They think, they ponder, they plan and within a month or one year, they are up and running.

Two different approaches but the same outcome. However, instead of deciding which entrepreneur type people are perhaps the most important question is what motivates a person to move from an idea to launching their own business? If you decide that you really want to go it alone, knowing and understanding your motivation is an important first step. Understand what’s driving you and you will have a solid base off which to work.

The Key Motivators

Each person has a different motivation for wanting to start their own business but there are always common reasons. Take a look at the list below and then decide which best fits your personal motivation.

I Want To Be My Own Boss

For most budding entrepreneurs this is the key driver. They have an inner urge to run their business which keeps gnawing away inside them, month after month, year after year, until in the end they have to give in and do it!

They can’t explain why, it’s just how it is. It’s the need for independence, to be free to do what they want. The thought of being answerable to no-one excites and drives them. They may not have the idea but they will look and search until they find it and then they are off!

Of all the motivators, this is probably the one which will lead to success because the desire is so great.

9 to 5 Drives Me Wild!

For some people the motivation to run their own business comes from their desire to get out of the 9 to 5 trap. They will do anything to escape the rut they see themselves in and one option is to set up in business.

These people feel suffocated by the drudgery of the daily trek to work, the endless depressing and de-motivating meetings! These people are non-team players, creative types who work better alone. The frustration builds up to the point where they have to leave and go it alone.

The Great Idea

Many small business owners branch out on their own after having a flash of inspiration about a new product or service. It’s something so new and exciting that it “just can’t fail”. Think of James Dyson and his revolutionary bag-free vacuum – what an idea that was!

Finding a Want and Satisfying It

Sometimes the inspiration of starting a business can be spotting a need or want that’s just crying out to be satisfied. No one else is doing it; the market is waiting to be sold to. This business idea is usually confined to the local market – their town or county. They realise they are on to a winner and so off they go. Usually, unless the gap is so wide that success is guaranteed, this is not a strong enough motivator on its own, it has to be backed up by one of the other motivators before the person will take action.

Money, Money, Money!

It’s surprising how strong a motivator money can be but it comes in two forms:

You haven’t got any and your motivation is to get out there and earn some to keep the bills up to date
You are already well off but you have a huge desire to be stinking rich!

Depending on the depth of your desire or need, each of these can be a strong enough motivator to spur you into action. But speak to the majority of small business owners and they will tell you that making a pile of money isn’t something that happens very often. So wanting to own a top of the range sports car may be the catalyst which starts you on your journey but accept that the journey may be long and hard with a few accidents on the way!

Change in Life Style

More flexible hours, the ability to take the odd day off, being able to fit around your family’s needs are the other possible motivators. These reasons are good for those who may be able to operate their business from home and like the freedom associated with working alone.

I’ve Lost My Job. What Can I Do?

Being made redundant can either be a disaster or the opportunity someone has been waiting for. If you are a frustrated entrepreneur then your pay-off may be enough to give you a kick start. This, coupled with your enthusiasm and passion, could be a recipe for success.

On the other hand, if starting your own business appears to be the only option you have or it’s your last resort, then you should question whether starting up is the right step to take. Having no other option can be a negative motivator which is likely to be quickly forgotten if another job opportunity comes up a couple months! On its own this motivator is not compelling, it can be the catalyst but it has to be coupled with another desire to really build a successful business.

There are many different motivators. Some people may only have one; other people may have a combination. Knowing your motivation will help you assess how strong your desire is and so help you decide whether to move onto the next stage.

What is your motivation?

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