Entrepreneurs’ motivation has a significant impact on business performance and growth. Many studies have shown that it is a significant factor in business success.
Your business success depends on your motives for starting business. Whether you have started your business by negative or positive factors, you need to have the real reasons for starting your business. Not just for life balance.
If your motivation to start a business is for independence, self-fulfilment and wealth, your business is more likely to attain financial success. If your “ Need for achievement” is strong, you will be able to again business growth. However if you have started your business by negative factors such as job dissatisfaction, unemployment you need to ask yourself the right question – why do I want to be my own boss? In fact, the difference between a ‘high growth and ‘low growth’ business is based on their degree of motivation for growth and financial rewards. Do not perceive business ownership as social network rather than a profit-making venture.
So what do you want from your business?