Business Mentor: What are your motivations for being an entrepreneur?

Armando Bartolome

Posted at Jan 25 2020 08:25 AM

I have met a lot of people who want to become entrepreneurs, but they seem lost on where to start. So the very first question I ask them is: “What are you passionate about?”

You see, if you want to be successful at something, your mind and heart must be in it. I often tell my mentees that they could not force something positive to happen if they do not give 101 percent of their effort.

To become an entrepreneur means taking major financial risks and working long hours to keep the business afloat.

But despite all the hardships, you will also find a lot of joy and satisfaction. At the end of the day, if you are truly committed, you will receive something worthwhile.

The rewards can be different for each entrepreneur. But there are at least 5 things that drive many entrepreneurs to reach their goals.

1. Financial Freedom
Who would say no to an opportunity to earn more than 10x your salary? To become an entrepreneur means potentially making a lot more money. But you need to choose a business that you are passionate about, and has a market.

2. Being your own boss
Don’t you just love hearing people call you boss or sir? The title means something. Being the boss of your own business entitles you to have more freedom to work on your own terms. Although, there may come a time that you need to work harder than a salaried employee to ensure that everything goes well, particularly when there are huge transactions or when the company is in a transition stage.

3. Calling the shots
As the boss, you always have the last say in all decisions. This is a huge responsibility, though because if you don’t know what kind of business you are running, then it is likely to fail.

You need to be equipped with the right knowledge so the people you hire will not take advantage of your ignorance about the business.

4. Being part of a team
No man is an island, and that goes for entrepreneurs as well. Although you may be using your own money to run the business, you can only do so much.

It is best that you know everything about the whole operation, but, of course, you cannot do everything alone. Therefore, you must filter everyone who wants to be part of your company. It is difficult at first, but, if you know what kind of people you need for the company, then it would be easier for you to narrow down the choices.

5. Legacy
There is nothing more fulfilling than knowing that your business continues to thrive after several years. To create something meaningful that lasts years is the goal of all entrepreneurs. The perfect examples are SM, Robinsons, Metrobank, and a lot more. It takes a lot of hard work and dedication to be able to achieve this.

Which of these motivates you? The more driven you are, the less intimidated you would feel when challenges pop up along the way.

So, before you dive into the world of entrepreneurship, know exactly what you want, and understand your motivations for starting a business.

Don’t be afraid to look for someone who can guide you and help you develop the right mindset.

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For more information, you may contact Armando "Butz" Bartolome
email: [email protected]
FB Page: Butz Bartolome
website: https://www.butzbartolome.com