Why entrepreneurship is not about money

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March 19, 2020

Written by Maike Benner  

Everyone knows that money makes things happen. But when we speak about entrepreneurship, we realize that the most successful entrepreneurs are not motivated by money, but by their heart, their passion and vision.

Entrepreneurship is about emotions, the chase, the identity, the rush. It is a calling. Entrepreneurship is often seen as a way of life. Most authors (in enterprise literature) focus on the characteristics and qualities of an entrepreneur. Development of an “entrepreneurial spirit” is often seen as a key and important criterion that influences the decision to become an entrepreneur.

Some of the qualities of a successful entrepreneur are: motivation, the need for autonomy and independence, creativity and authenticity, initiative-taking, risk-taking, seeking opportunities, presenting challenging goals, self-esteem, internal control etc.

Entrepreneurship is about values as well. Not to be focused on creating great wealth alone but also taking learning opportunities along the way. The Roman philosopher Seneca said, “While we teach, we learn.” By showing others how to build a great company, you are still learning. It is all a process.

As long as your business model is about value addition money is something which will follow. As long as you are giving value back, and you win the trust of others, you are a valuable entrepreneur.

Entrepreneurship is not about earning money from someone, but it is about giving value to someone. It is about living the passion.

Between success stories and failures, one thing that has been constant throughout every entrepreneurial experience is this: the road is tough and difficult, and it is very important being guided by your values. You need to be interested in the process. If you think only about money, that means, you are only interested in the consequence, not the process. Entrepreneurs who made it big did not bother about money. They bothered about creating something special and doing something well.

If you are really offering something that will add value to people’s lives, why do you have to count your money? If what you create is truly worthwhile, money will happen.

One of the entrepreneur’s most valuable possession in the business world is reputation. It is your reputation that will determine how successful you become, not your money.

‘’The way to gain a good reputation is to endeavor to be what you desire to appear.’’- Socrates

A great reputation opens doors and creates opportunities for discussion and business, helps you to expand your network and positions you as being unique and offering high-value products, services or expertise. Your reputation in the years ahead is more important than cash in your pocket today.

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