What Motivates a Successful Entrepreneur?
People are motivated by various forces from having to meet deadlines to a proverbial ‘kick up the backside’ but these are temporary until the moment has passed. As an entrepreneur moves up the ladder of success, his or her motivation must remain strong – and the most constant motivators are aspiration and inspiration.
Aspiration – a hope or ambition of achieving something
Inspiration – the process of being mentally stimulated to do something creative
Motivation – a reason behaving in a particular way
Example 1: Richard
A grammar school boy in the 1970s from a working class family on a council estate, Richard’s class-mates were from middle-class families who owned semi-detached houses and owned or managed businesses. Richard’s aspiration seems simple by today’s standards – he wanted to raise his standard of living and buy a house for his future family. Having to leave school at 16, he then completed a higher education at night-school whilst working as an office clerk.
With four years’ accounting experience, Richard’s distinction in Business Studies inspired him to apply for (and be rewarded with) a management position in an established food supplies business. He was further inspired to develop the business, three years’ later, when he married the boss’s daughter! Having achieved his original aspiration of buying a home for his family, Richard then aspired to secure his family’s and the company’s future.
This inspired and motivated Richard to take the business into a niche market of specialist foods which significantly increased turnover. He is currently MD of the very successful company.
Example 2: Andrew
Andrew aspires to earn money by writing. After graduating in 2011 he spent three months travelling the Americas, knowing that it would inspire him to write about his adventures in a series of blog posts. His motivation was to build his on-line presence for financial support via pay-per-click advertising.
It isn’t easy to gain a following large enough to make you rich with advertising clicks and this only provided Andrew with a trickle. On his return home, he began editing his posts into an e-book which he self-published via a global online group. His strategy was to allow 1,000 free downloads to gain good reviews then, as an established author, charge a small amount for subsequent downloads. Andrew knew that he needed to develop a successful strategy with this project so that he could apply those tactics to each new project.
He increased his use of other forms of social media to drive followers to his book and blog. Inspired by successful YouTubers, Andrew contacted his old University and asked for assistance with a promotional two-minute video.
Now in his mid-20s, Andrew has spends half his time travelling and his income has increased over one hundred per cent, year on year. His aspirations to earn money by writing remain unchanged and his future plans now include a move into writing novels.
Aspiration, Inspiration & Motivation
Your aspirations will drive you and inspirations will help to motivate you. If you’d like help with planning your strategy, talk to MIERA Consulting on 0208 634 5200 or 0776 899 4681.