What is the reward for entrepreneurship?
Okay, that sounds general; let’s narrow it down to…you!
Why entrepreneurship for you?
Why did you choose this path?
For a lot of people, the first answer that comes fast to their mouth is: Money!
But the truth is: entrepreneurship – taking on the risk of building a business to cater to other people’s problems – is more than just money.
There are a hundred ways to make money, but you chose this dreaded path.
Trust me, it’s more than just money for you.
There is a reason you want that money; I’m sure you’re not planning to just stack it up when it comes and do nothing with it.
So…if you believe your “why” is money, then what is that reason you want money?
This is one of the first questions I ask anyone I get on a business call with, either to qualify them and see if we are a good fit to work together, or as our first coaching session call.
And somehow, many people tie it back to money.
One way I’ve learnt to dig deep is to ask the magical question: WHY?
This is how to bring out the real motivation behind people’s choices. Sales teachers like Billy Gene say that the real motivation is always between 3 to 7 Why’s deep.
Dig personally too!
And this doesn’t just work for when you want to sell your services to people; it works to really get to know yourself better – why you’re doing what you do.
As you probably have heard before, if you don’t have a strong “Why” for doing whatever you’re doing, you could easily give up if the going ever gets tough…or you won’t have the drive to always aspire to become better.
So I want you to think deeply and ask yourself what the real reason is for what you’re doing.
And whatever your answer is, no matter what your answer is, ask yourself a set of Why’s. About 5 to 7.
For example, if you said money too, ask why.
The answer might be, so that I’m able to afford whatever I want.
Why?
So that I don’t have to look up to anyone for help.
Why?
So that I don’t get disrespected in the process.
Why?
Because I hate being disrespected or being looked down upon.
Why?
Because a lot of people, even friends and family, looked down on us a lot growing up, just because we had no money.
I could go on and on, but even though it’s fictional, can you see how the real motivation came to the fore because I kept asking why?
This kind of person obviously became an entrepreneur because he doesn’t want to be looked down upon again in life. He wants respect, and he thinks getting money would get him respect, as long as he doesn’t have to look up to anyone for help. (And obviously believes that entrepreneurship is what would bring the money.)
Freedom
For me, my overarching reason for choosing entrepreneurship is freedom.
I value my freedom a lot.
I’m sort of a born rebel, so I want to be able to do what I want, whenever I want, without worrying about anyone’s permission or disapproval of it.
I want to be able to make a decision and NEVER be questioned.
So it’s two ways: (1) entrepreneurship gives me the freedom to do whatever I want with my life; (2) having my own money allows me to call the shots, for myself, my family, my business, etc.
Now that I have a wife and kids, they’ve sort of become my biggest motivation to go after the kinda life I believe we deserve. But I’ve been an entrepreneur years before I even thought of marriage…so it has always been freedom for me.
Failure that threatens freedom and family
So you can imagine how crazy it was when I couldn’t get ecommerce to work, after choosing it as my ticket to freedom and escape from the feast and famine rollercoaster.
Suddenly the two biggest reasons I stay up late doing what I do becomes threatened.
Good thing is I’d tied my money down into the business, so I had no choice but to make it work. (Story for another day.)
Negative: imposter syndrome
One thing many “expert” and professional entrepreneurs battle with it imposter syndrome.
Never seen myself as one to have it…
Until when I experienced failure at launching my skincare business…and one of my worries was that I would be exposed as a fraud: a digital marketer that couldn’t even successfully make sales for his own business, after years of offering services like paid ads, email marketing, copywriting, etc.
I literally hid myself from the internet for a while…until I found a solution and started experiencing success.
So…entrepreneurship, for me, is all about several things…but as much as I love money, I’m 100% sure it’s not my biggest motivation. Not really because I’m smarter than other people who say money…but because I’ve asked myself “Why”. Severally!
