What are five reasons why individuals become entrepreneurs

Contents

• 1. They simply want to be among the richest people
• 2. Bad Economy. High Unemployment
• 3. Escape the nine to five mantras
• 4. They want to be in charge of their income
• 5. They enjoy taking Risks
• 6. They want a lead a team
• 7. They just don’t have the patience to work for others
• 8. They want to be popular
• 9. They would like a sell their company someday
• 10. They are driven by passion
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Reading Time: 4 minutes

In this article, you will discover the reasons why people become entrepreneurs.

What’s really the reason for people starting a business and becoming their own boss?

Why will a highly paid civil servant quit his/her government work to start a business? Isn’t that stupid?

Well, you might be wondering why people become entrepreneurs these days. Just take a look around your neighbourhood. You can’t pass one street without seeing a business.

Many people are drifting from white-collar jobs to become entrepreneurs.

In fact, most young people or students graduate from university and still abandon their field of study to start a business.

One might ask, isn’t this industry saturated?

But the truth is; entrepreneurship has come to stay. People want more for their lives.

We will share with you 10 reasons why a lot of people finally choose to become entrepreneurs.

1. They simply want to be among the richest people

Everybody wants money

But I think no one needs money more than entrepreneurs.

You might actually conclude that they love money more than any other thing.

Unlike white-collar jobs where they are paid monthly for hectic jobs; entrepreneurs want money from doing simple tasks even though it will be risky or cost them a lot of money.

They believe that the only way to escape poverty and be among the top ten richest people in the world is to have a business.

And that’s the truth.

Many millionaires today are not working for people. They have their own business that makes passive income for them.

The likes of Mark Zuckerberg, Larry Page, Elon Musk and Jeff Bezos. These people all have businesses. Not just one. They have a lot of companies that generate streams of income.

However, the only way to become financially independent to start a business. Have more than one if you can.

2. Bad Economy. High Unemployment

In a situation where the economy of a nation is bad, people have no choice than to become entrepreneurs.

For example, Nigeria has an 18.80% rate of unemployment as of 2017 according to Vanguard. Most companies are occupied. No employment for freshly graduated youths.

And what choice do they have?

The only way they can survive to come up with a business idea and execute it.

And when they finally start their own business, they create employment for other people.

As a matter of fact, being an entrepreneur is one of the ways you can change your country and make it a better place to be. Execute that idea today and write your name in the history books.

3. Escape the nine to five mantras

Who doesn’t want freedom?

Entrepreneurs just want freedom for their lives.

They don’t want to be forced to wake up by 5 a.m in the morning, unlike bankers and teachers.

They can decide to wake up by 11 a.m in the morning. Most of them especially online entrepreneurs work through the night and sleep during the day.

As an entrepreneur, they have the ability to control their own life and execute their ideas than working for the government that will lay you off at any moment.

4. They want to be in charge of their income

No successful entrepreneur has a static income. Their income varies and depends on a number of people that purchased their products or services.

They have the decision to increase their earnings by 70% in a week or just earn to feed themselves and their family.

This reminds me of pat Flynn who makes most of his money from Smart Passive Income. You can check out his income reports here.

This simply shows that the more customers you get, the more money you will make. You are in charge of your income.

5. They enjoy taking Risks

Investment is very risky

That’s what people say.

But that’s not the case for entrepreneurs. They believe that investment is the only way to get started in business and make a fortune out of it.

The truth is, risks are unavoidable. But our attitudes towards it matters a lot.

So, Entrepreneurs, instead of thinking about how much money they will lose or how the bad economy will affect their business, they think otherwise. That’s why when others are complaining about the recession, they use the opportunity to invest and make more money.

6. They want a lead a team

Why people become entrepreneurs is because they want to be the leader of their own team.

They enjoy working with people and solving problems with their team.

Now here is a catch

His team members are not working for him. That will seem as if he is exploiting them. Rather they work with him and the money made will be shared accordingly.

7. They just don’t have the patience to work for others

Why people become entrepreneurs is because they can’t just stand working for others. They don’t have the patience to obey other people and run errands.

You know the funny thing.

Some of them have never had a job and will never have a job.

8. They want to be popular

While some people become entrepreneurs to be rich and become financially free for the rest of their lives, others just want to be popular in society even if they are not making much money.

9. They would like a sell their company someday

Imagine when you sell your company? That will really generate a lot of money.

Here is an example.

Casey Neistat sold his company Beme to CNN for $25 million in 2016. This news generated a lot of headlines across the world.

Here is a video he posted on YouTube after selling his company to CNN.

10. They are driven by passion

The final reason why people become entrepreneurs is “passion”.

When you have a strong feeling towards something in such a way that you think about it all the time means that you have a passion for that particular thing.

Nobody loves doing what they hate.

Entrepreneurs are a passion-driven set of people who never want to give up on their dreams of changing the world.

Wrapping it up

Nobody becomes an entrepreneur by birth. You have to work towards it.

We just shared the reasons why people become entrepreneurs. Do the above reasons apply to you? If yes then you have to go into business.

Here is an advice

You have to think big. Successful entrepreneurs don’t have small minds.

One more thing

Do us a favour by sharing this article. Thank you in advance.

Here is an opportunity to promote your startup and dominate the web with your business.

Why do individuals become entrepreneurs?

What are five reasons why people become entrepreneurs?