Tuesday, January 11, 2011

The dual motivations of an entrepreneur and their relation to happiness

The original intentions of launching a business are often indicated by two basic motivations: to create a new and innovative product or service, and to build a company for the purpose of making a living or strong profits. Both have their ups and downs.

The former is akin to an artist's approach, wherein an entrepreneur's vision can be instrumental in building a revolutionary and highly innovative company, but the emotional attachments with which these individuals operate can make them stubborn and unwilling to relinquish power. The latter motivation is more business- or profit-oriented – a strategy that will surely benefit the company's bottom line, but it may also limit the amount of financial risks or creative gambles that the owner is willing to take.

Whatever one's motivation, it is important to determine how much they are emotionally attached to their business creation and how much their own happiness depends on running the company. When selling a business, a strikingly easy way to figure this out is to merely consider the level of pride one has for his or her career.

"One of the biggest reasons we become unhappy is that we fall out of sync with our deepest personal values," author Gretchen Rubin told Inc. magazine. "Recalling your pastimes before all of the pressures of adulthood took over gives you clues as to what will make you happy now."
http://www.bizilla.com/blog/2011/01/the-dual-motivations-of-an-entrepreneur-and-their-relation-to-happiness/

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