Q&A - What are the main non-financial objectives of entrepreneur starting a new business?
Sunday, March 01, 2009
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Contrary to popular belief, starting a business is not always about financial objectives. Very often a new business is started with other, non-financial objectives in mind. Here are some of the non-financial motives that are often quoted by entrepreneurs:
More control over working life – want to choose what kind of work is done. The need for greater independence is a major motivator.
Need a more flexible and convenient work schedule, including being able to work from or close to home. This motive is an important reason behind the many home-based business start-ups
Feel that skills are being wasted and that potential is not being fulfilled
Want to escape an uninteresting job or career
A desire to pursue an interest or hobby
Fed up with being told what to do – want to be the boss!
Want the feeling of personal satisfaction from building a business
Want a greater share of the rewards from the effort being put in – compared with simply being paid by an employer
Fed up with working in a business hierarchy or bureaucratic organisation (people with entrepreneurial characteristics often feel stifled working and having to co-exist with others!
As a response to a shock or other major change in personal circumstances – e.g. redundancy, divorce, illness, bereavement
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