Entrepreneurs start new businesses for a variety of reasons – to be creative, to be innovative, to prove to themselves and to the world that they can “do it”, to do good, and of course, to make money.
Making money is a crucial part of business : one, because it is a measure of success, more the money that a business makes, the more is it seen to be successful in the eyes of the world; two, because it is needed to keep the business going. If there is no money coming in, the business cannot progress and the entire purpose of starting the entrepreneurship is lost.
Something bigger, something higher
Hence making money, making profits is essential for the sustainability and long-term success of the venture. Every entrepreneur knows that one of the maxims of business is to make money, it is a critical component of the success of the business. But they also know that if their only objective is to make money, they will not go very far. They need to aim for something bigger, something higher, something better if they are to truly succeed.
Money is just one measure of success, there are other factors that are essential to define success. Entrepreneurs need to be driven by a passion to create new, innovative products and services, to add value to society, to help their fellow being in some way. They need to be driven by a purpose loftier than the desire to make money, and when they do that money will flow in unasked. Those who start entrepreneurship only to make money, fall by the wayside fairly soon. They don’t last the term because their vision is so short-sighted.
Contributions added value to the world
Whether it’s a Bill Gates or a Mark Zuckerberg, they followed their heart, pursued their dreams and their contributions added value to the world at large and in the process they accumulated wealth beyond compare. Entrepreneurs need to look at the long term, need to have a vision to create something that will last into the future. Businesses that collapse in a short time do not make money; it’s when entrepreneurs build a strong foundation for business and an equally strong edifice on top of it, that the business will flourish and bring in success and profits.
Successful entrepreneurs admit that they do what they do because they are compelled to do so, that they are constrained to do so by a power that is bigger than them and which motivates them to do something for the good of humanity. They want to leave their mark on the world by doing what they can to improve conditions on it. They succeed when they have a personal dream, a mission and a purpose that is bigger than the desire to just make money.
They know that eventually they will be remembered and appreciated more for what they contributed to make the world a better place than they will for the money they amassed for themselves.