which could provide an individual with the motivation to start a new business venture
Answers
Motivations for wanting to become an entrepreneur can vary greatly. Common motivators can include escaping the corporate grind, taking greater advantage of special skill sets, supplementing income or a strong drive to achieve personal or financial success.
Answer:
Starting a business is something that many people think about at one time or another during their lives. Motivations for wanting to become an entrepreneur can vary greatly. Common motivators can include escaping the corporate grind, taking greater advantage of special skill sets, supplementing income or a strong drive to achieve personal or financial success.Self-Direction
If you've spend a number of years toiling for companies and bosses, you may have the desire to determine your own fate by starting a business. You'll be able to operate the business as you see fit and not have to worry about pleasing your boss. In many cases, you'll also have the flexibility to set your own schedule.
Financial Success
Operating a business can lead to financial success. Unlike a job where your earnings are limited to what your company is willing to pay you or a predetermined wage scale, the money you earn from a business is often determined by your own efforts and business savvy. If your initial venture is successful, you can add to your earnings through expansion.
Self-Fulfillment
If you feel that your company is not utilizing your talents properly, starting a business can allow you to maximize your abilities and create a sense of fulfillment. For example, if you're a police officer whose investigative skills are not being put to the test, you could consider starting your own investigative agency where you can make full use of your abilities.
Additional Income
Perhaps you're happy with your present job but would like to supplement your income. If you have a special skill or a hobby you enjoy, you can use these to start a small business on the side. If you enjoy writing, for example, you can look for freelancing opportunities for the local newspaper or online.
Second Career
If you're a retiree, starting a business can take the form of a second career. People who retire early from a job may have the desire to continue working. Older retirees may feel that they need additional income or have concerns about how long their present retirement benefits may last. Starting a business in retirement can also allow for pursuing a passion in addition to providing income.