The Entrepreneur Flashcards
Anita Roddick quote
“success to me is not about money or status or fame, its about finding a livelihood that brings me joy and self-sufficiency and a sense of contributing to the world.”
- Anita Roddick
Why do people want to become entrepreneurs?
Change the industry: many entrepreneurs see a better way of running an industry and are keen to put it into practice. Eg Tom Siebel of Siebel systems said: “This was never about making money…this was an attempt to build an incredibly high quality company.”
Change the world: some entrepreneurs set up companies with lofty aims in mind, such as bringing wide benefits to society through say, lowering food costs in the developing world.
Fame: this appears to be the driving force behind some entrepreneurs (especially the aspiring entrepreneurs appearing on the Apprentice!) who dream of creating a large enterprise and becoming a sought-after guru in the mould of Richard Branson.
Money: this is a huge motivator for many, although it is debatable whether starting a company versus eg working in the City gives a higher probability of attaining this goal.
Power: the founders of the most successful companies such a Bill Gates or Larry Page/ Sergey Brin hold significant power – whether over thousands of employees lives or indeed politically.
Independence: many entrepreneurs feel they could not work well within a conventional organisation and report to a boss. They therefore found their own companies. However, an irony emerges at times as, if an entrepreneur uses a VC, their independence is often far less than if they had a “boss”.
Phil Libin - why do people want to be entrepreneurs?
Evernote
My advice to aspiring entrepreneurs? Don’t do it. Or at least not for the wrong reasons
Wrong reason:
money - 95% of start ups fail
power - when you’re an entrepreneur, everyone else is your boss - employees, customers, the media
flexibility - you can work any 20 hours of the day you want
Only one good reason: to change the world
You have an idea, concept that the world is missing
There is no better time than now - technology
The Next Web Conference 2012
