By: George N. Root III
Ever wonder what drives people to start their own business?
It is interesting to contemplate what drives people to start a business. Starting a business of your own requires money, many hours of hard work, patience and the understanding that you might not make a whole lot of money the first year or two or your business could fail completely. According to the Small Business Administration (see SBA reference - page 1), approximately 30 percent of small businesses close their doors within the first two years. Yet people still start their own businesses on a regular basis. There are many factors that drive entrepreneurs to strike out on their own.
According to the website More Business, an entrepreneur is sometimes motivated to start a business because he has the desire to become involved in all aspects of company's operation. The entrepreneur wants to be part of the product design team, sales, marketing, engineering and production. An entrepreneur has a very specific way that he feels a successful business should be run, and this motivates the entrepreneur to start his own business and get directly involved.
An entrepreneur might feel that doing business with a large corporation, or working for a larger company, can become very impersonal. The drive to start a business comes from the desire to put a personal touch back into doing business.
Some entrepreneurs start their own business because they want to be their own boss and in charge of all of the day-to-day operations of a company. The entrepreneur wants to be the one making the important business decisions, determining the direction the company will take, making the call on product development and marketing and being responsible for every aspect of the company's operation.
According to Know Accounting, some entrepreneurs are driven to start their own company out of necessity. If a job does not offer enough income, an entrepreneur might start a side business to generate extra income that can turn into a full-time business.
To some entrepreneurs, having a successful business brings a feeling of accomplishment. They feel that they are offering a valuable service to their customers, and they pride themselves on doing the best job possible. Many entrepreneurs give back to their communities through charitable donations and by participating in charitable events. This feeling of accomplishment and pride is an important factor in starting a business.
View the original newspaper article.