Why Entrepreneurs Start Their Own Business
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Why entrepreneurs start their own business? The Motivational Matrix Why people start businesses, what they want out of the entrepreneurial life, and how their values change over time
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Why Entrepreneurs Start Their Own Business
- 1. WHY April 2015 entrepreneurs start their own business REZA GHIABI
- 2. The Motivational Matrix Why people start businesses, what they want out of the entrepreneurial life, and how their values change over time
- 3. Wasserman and Timothy Butler, senior fellow and director of career development programs at Harvard Business School, surveyed roughly 2,000 founders about their motivations. They carved out results for men and women in their 20s, 30s, and 40s-and- beyond, and compared the results with those for thousands of non-entrepreneurs who completed the same survey.
- 4. The Motivation Matrix 20s 30s 40s + AuAutonomy AuAutonomy AuAutonomy Buchanan, 2012 AUTONOMY No.1, motivation for entrepreneurs of all ages is not having a boss.
- 5. The Motivation Matrix 20s 30s 40s + AuAutonomy AuAutonomy AuAutonomy PiPower and Influence PiPower and Influence Buchanan, 2012 POWER AND INFLUENCE: Entrepreneurs care almost as much about being the boss as about not having a boss. They want to be leaders
- 6. The Motivation Matrix 20s 30s 40s + AuAutonomy AuAutonomy AuAutonomy PiPower and Influence PiPower and Influence IcIntellectual Challenge Buchanan, 2012 INTELLECTUAL CHALLENGE: Entrepreneurs are often financially comfortable in their 40s, which make room in their lives for seeking satisfaction elsewhere.
- 7. The Motivation Matrix 20s 30s 40s + AuAutonomy AuAutonomy AuAutonomy PiPower and Influence MpManaging People PiPower and Influence IcIntellectual Challenge MpManaging People Buchanan, 2012 MANAGING PEOPLE: Young entrepreneurs managing people with other early motivation: power. As leadership experience teaches them the joys of inspiring rather than directing, their interest in pure management wanes.
- 8. The Motivation Matrix 20s 30s 40s + AuAutonomy AuAutonomy AuAutonomy PiPower and Influence MpManaging People PiPower and Influence IcIntellectual Challenge MpManaging People AAltruism Buchanan, 2012 ALTRUISM: Altruism is more important to entrepreneurs later in life perhaps as they begin to consider their legacies. They will to sacristies money to make a difference.
- 9. The Motivation Matrix 20s 30s 40s + AuAutonomy AuAutonomy AuAutonomy PiPower and Influence MpManaging People PiPower and Influence IcIntellectual Challenge MpManaging People AAltruism FgFinancial Gain Buchanan, 2012 FINANCIAL GAIN: Entrepreneurs see money as a symbol of success, though money matter less as they age — perhaps they already have enough of it. FgFinancial Gain
- 10. The Motivation Matrix 20s 30s 40s + AuAutonomy AuAutonomy AuAutonomy PiPower and Influence MpManaging People PiPower and Influence IcIntellectual Challenge MpManaging People AAltruism FgFinancial Gain Buchanan, 2012 FgFinancial Gain VVariety VARIETY: Variety grows more important as old entrepreneurs graduate from constantly fighting fires and begin to recognize a thousand opportunities to do business.
- 11. The Motivation Matrix 20s 30s 40s + AuAutonomy AuAutonomy AuAutonomy PiPower and Influence MpManaging People PiPower and Influence IcIntellectual Challenge MpManaging People AAltruism FgFinancial Gain Buchanan, 2012 FgFinancial Gain VVariety