Why Would You Start A Business?
Moving beyond money when it comes to entrepreneurial motivation
I’m often asked in regards to money and business, “How much is too much?” or “How much is enough?”
The people who ask such questions are often those who have never built a successful business that made a lot of money. If they had built a successful business, they would never ask such a question. I’ve also noticed that many of these people are also in the E and S quadrants of the CASHFLOW Quadrant.
Building a business is an adventure
When I formulated my plans to build my first business, rich dad was adamant about the spirit with which I undertook this new adventure.
“You build a business because of the challenge,” he said. “You build a business because it is exciting, it’s challenging, and it will require everything you’ve got to make it successful.”
Building a business builds spirit
Rich dad also wanted me to build a business in order to find my entrepreneurial spirit.
“The world is filled with people with great ideas,” he said, “but only a few people earn great fortunes from their great ideas.”
He encouraged me to start a business, any business, no matter whether I liked the product or not. He was not concerned about whether I failed. He simply wanted me to start. One of his favorite quotes from Albert Einstein was, “Great spirits have always encountered violent opposition from mediocre minds.” He wanted me to start a business simply so I could challenge my mediocre mind and develop my entrepreneurial spirit.
Building a business takes everything you have
A lot of people have a goal of becoming an accredited investor, which takes $200,000 a year in earnings. To some people, that is a lot of money, but it is not a reason to start a business.
In all honesty, the risks in starting a business are too large for such a small amount of money. If you decide to start a business, don’t do it for pennies on the dollar. The risks are too high for a payoff so small. Do it for a much bigger payday. Why? Because building a business will demand everything you have to make it successful. You can make $200,000 as an employee with a lot less stress and risk. Building a business requires you to have a higher goal in mind.
Building a business is a life of love
That being said, while money is important, it’s not the primary motivating factor for building a business. I think the question, “Why would you start a business?” can be best answered by asking the same question in another way. “Why would you keep playing the game of golf?” The answer is found in the spirit of the game.
Today, I have friends who have sold their businesses for millions of dollars. Many of them take a few months off, and then they are right back in the game. It is the excitement, the challenge, the spirit, and the potential for big payoff at the end that keeps these entrepreneurs going.
Building a business is a life of love, powered by the entrepreneurial spirit.
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