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Entrepreneurial Motivation : Finding value of what you do



Kirjoittanut: Aileen Marie Flores Nunez - tiimistä Kaaos.

Esseen tyyppi: Yksilöessee / 2 esseepistettä.

KIRJALÄHTEET
KIRJA KIRJAILIJA
EXTENDED SUMMARY OF DRIVE THE SURPRISING TRUTH ABOUT WHAT MOTIVATES US
Daniel H. Pinkki
Esseen arvioitu lukuaika on 6 minuuttia.

Introduction 

 

What keeps you going every day? What fuels you to accomplish your daily business routine? How do you keep your level of energy to achieve your entrepreneurial goal? These questions may not come frequently on every normal waking day. However, if you have moment for a deep thought, are you able to find the answers right there?   

 

If you do know the answers, then you surely know what motivates you. What is motivation? What is the significance of being motivated as an entrepreneur? What do we mean by entrepreneurial motivation? Entrepreneurs have different motivations for doing business. There are what we consider intrinsic and extrinsic motivations. In the pursuit of getting successful results for performance and satisfaction, it is best to know what kind of motivation an entrepreneur has and how to manage that it keeps going for every difficult challenge. 

 

 

What is entrepreneurial motivation? 

 

Motivation may be defined as the willingness to exert high levels of effort toward organizational goals, conditioned by the effort and ability to satisfy some individual need. (Gyankovandar.com 2021). It could simply mean the reasons for doing the things because it interests you or because of the incentive that could be earned and enjoyed or even avoiding the consequence of not attaining the goal. Motivation factors need to be identified and are clear so that whatever actions taken can truly drive to the goal.  

 

Entrepreneurial motivation is the process that motivates the entrepreneur to exert a higher level of effort for the achievement of his entrepreneurial goals. The motivational factors are the drivers within an entrepreneur that affect the direction and intensity of his behavior as an entrepreneur. They influence the entrepreneurial behavior and operation of the business. (Gyankovandar.com 2021). Entrepreneurs are motivated for the common goal of achieving success in business. Along the process, there are different things that drive entrepreneurs’ motivation that led them to direct toward the goal. There is the desire to perform because it creates interest. You see the significance and it matters to you because you find value in what you do.  

 

Motivation can be intrinsic and extrinsic. The most basic distinction is between intrinsic motivation, which refers to doing something because it is inherently interesting or enjoyable, and extrinsic motivation, which refers to doing something because it leads to a separable outcome. (Ryan and Deci 2000). 

 

An intrinsically motivated entrepreneur finds the process fun and interesting rather than because there is a reward or a consequence. It is a natural motivation with oneself. It is considered a phenomenal motivation where positive experiences are complied with performance of the capabilities.  

 

Daniel Pink on his TED talk about The Puzzle of Motivation, mentioned that the new operating system for business involves 3 elements for intrinsic motivation. These are autonomy, mastery and purpose. (Pink 2009). Autonomy is our independent desire that drives us to do things because we find significance. Mastery is the intent of being better of doing something important along the process. Then the purpose is what fuels you to do something because you see the bigger value not only for yourself but for others too. The motivational factors may not always be the same from start to end but they could change along the way while in the entrepreneurial process. The experiences could add more value and therefore could find better reasons for doing something for the business.  

 

Though intrinsic motivation is considered extremely significant, extrinsic motivation is equally important too. Entrepreneurs can perform due to external motivation such as gaining more profits, recognition in the business community and of course a larger network to society. Entrepreneurs see this motivation too huge or unreachable, especially for the starting ones however with these motivating factors, large and overwhelming as they are, you can take your single and small steps farther than you do every day. And of course, external motivation takes more effort and time to do. 

 

Knowing and having the motivation could be easy and a natural thing of doing something for a value however the greater challenge is how you could keep this going and what level you could keep it. There are many circumstances along the entrepreneurial process that one may lose its motivation to continue or keep the same level of energy. Successful results on performance and satisfaction are not met along the experience, and this is c common scenario, not only in the business world but even in our ordinary normal life. So how can you keep your motivation?  

There could be many ways, and it depends on how one can do it. Some could be simpler than the others and could be able to get back you on track right away while some could take a tougher way and need more time. What is important here is one can recognize the absence of motivation and is willing to work it out and get back. 

 

Common ways to keep your motivation high 

(Wade Webb’s Agentsboost, n.d.) 

 

  1. Know your purpose and work on it 

 Be clear on the reasons why you are doing something. As an entrepreneur,  

You must believe that what you do has meaning and find value in it so that giving up is no option no matter how things may happen 

 

  1. Don’t ever feel sorry for yourself 

Have you experienced the best success that came from hard failures? So, do not feel sorry for failing because you will find something great around the corner. So, make sure and be brave to turn every misfortune into opportunities.  

 

  1. Achieve your goals 

a proper right mind set is needed. If what you do is not the best way, then there are other ways to do it. You might take a different path, but the end goal is the same. You do not have to stick to one process and be trapped in there. 

 

  1. Remember…its supposed to be hard  

Who says doing business is easy? However hard it is, if this is what you want to do and find value in doing so, then learn and enjoy the process. This would be easier to get by every day. 

 

  1. Stop viewing problems as accidents 

Problems are also there whether pertaining to our daily life or doing your business. Resolving problems is part of your role as an entrepreneur. So be an expert on it, this is a soft skill that a businessperson must acquire. Do not view problems as negative accidents, instead be adaptable and effective on resolving problems. This is also another way of knowing and learning more about the nitty- gritty process of your business. 

 

  1. Look at the obstacle’s others had to face 

Great and meaningful things take time. You may have a road map of how your business must go, however along the way there are obstacles to deal with and you are not alone in this journey. Others would be even bigger and harder than you do. And if they do successfully fix it then there is a sure way you could. So just know that you keep going.  

 

  1. Remember your ‘why’ and ‘why not’ 

Some people would not be able to get your intention of doing something. Your answers for why and why not yours are to keep you motivated and there is no need for the entire world to accept it. So long that these have meaning to you personally and create an impact on the society where you want to. 

 

  1. Relentlessly focus on your mission 

With the deep passion you must do your project, you are out there for a mission. Keep the fire burning and stay focused, options could be there but stay focused on what you aim for. 

 

  1. Keep your vision clear on the top of 1 percent 

If your vision is clear, set out everything to work for it. Do not be swayed by any challenges or problems that will arise. Keep it at the top 1 percent.  

 

  1. Take time to reset 

If things do not go as planned and it feels like quitting. Never quit, you just need a rest. Then reset whatever is needed.  

 

 

Conclusion 

 

Motivation is like the air we breathe. Without motivation, life has no meaning at all. Motivation is needed to keep us going and live life with purpose and value. Much more motivation is needed when you are an entrepreneur. It is much needed to achieve your entrepreneurial goal. Intrinsic and extrinsic motivation are both needed to keep up with the challenges in the business. There will be so many highs and lows along the way and sometimes it is just easier to give up. So, know clearly what motivates you in doing your business and must be able to learn how to keep your motivation levels up and never quit when challenging times come. Be able to always find the value of what you do 

 

 

 

 

 

 

 

 

 

 

 

 

 

References: 

 

Daniel Pink. 2009. Ted Talk.The Puzzle of Motivation.

Drive. The 

Watched on 22.4.2023 

https://youtu.be/rrkrvAUbU9Y 

 

Gyankovandar.Com. Entrepreneurial Motivation: Internal & External Factors. 2021. Read on 19.4.2023 

https://gyankovandar.com/2021/05/entrepreneurial-motivation-internal-factors-external-factors 

 

Ryan, R. & Deci, E. 2000. Self Determination Theory 

Intrinsic and Extrinsic Motivations: Classic Definitions and New Directions 

Read on 22.4.2023 

https://selfdeterminationtheory.org/SDT/documents/2000_RyanDeci_IntExtDefs.pdf) 

 

Wade Webb’s Agentsboost. Top Ten Ways To keep Your Motivation High 

Watched on 20.4.2023 

https://agentsboost.com/top-ten-ways-to-keep-your-motivation-high/ 

 

 

 

 

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