ENTREPRENEURSHIP : RUN YOUR OWN BUSINESS

Reasons to start and successfully run a business In this post, get ready to discover some of the main motivations for becoming an entrepreneur and building a successful business. Motivaciones para emprender Entrepreneurship is much more than starting a business; it is a journey full of dreams, challenges, and the possibility of transforming reality. Entrepreneurs seek not only to make a living but also to solve problems and leave a mark on the world. Although each person has their own reasons, there are common factors that inspire them to move forward. According to the GEM Spain 2022-2023 report, the main motivation for more than 70% of entrepreneurs is "making a living due to a lack of jobs." Among the secondary motivations highlighted in the report are "generating great wealth or a very high income," "making a difference in the world," or "continuing a family tradition." Each entrepreneur has a unique motivation and personal story that has driven them to venture into creating a project. This path, although full of challenges, also offers opportunities for personal growth and the realization of dreams and goals. In this post, get ready to discover what drives you as an entrepreneur and how you can channel that energy toward achieving your goals. What does entrepreneurship mean to you? What qualities or skills do you need to possess? Are entrepreneurs born or made? Do you need to have a "special knack" for entrepreneurship? We will examine these questions, from economic necessity to the search for purpose and the desire to leave a lasting legacy. Each motivation has its importance and its story. Here are various motivations that can drive entrepreneurship, along with real cases of entrepreneurs, from those in the early stages to those who have sold to large companies. These examples can inspire you to find your path when it comes to entrepreneurship. Personal Fulfillment. The passion for a project can be the engine that drives some people to pursue their dreams. However, besides passion, discipline and knowledge are required to achieve success in any venture. More and more people, who do not feel fulfilled in their jobs, decide to take the leap and dedicate themselves to what they are truly passionate about while maintaining the income generated by their employment. Economic Aspects. The possibility of earning high incomes is a strong motivator for many people to become entrepreneurs. A successful business can offer financial stability and a substantial increase in income compared to a traditional job. However, the path to success is not easy and often requires more dedication than a standard workday. Carlos Martínez, former founder of Enjoyers and founder of Tengo Mentalidad Emprendedora, comments on his motivations for entrepreneurship and how they have evolved over time. Initially, he was motivated by "making money," but over time he has experienced a growing trend towards personal fulfillment: "When I started at 20, I became an entrepreneur for money because I wanted to be a millionaire. As I matured, I realized that entrepreneurship for money makes no sense; you have to do it out of a desire to solve a problem. That is, you are so motivated by this problem that you don't expect monetary return as a major motivation. The money may or may not come, and it's usually not in the amounts we imagine. Now, however, I become an entrepreneur for freedom and for projects that motivate me." Independence. The search for independence, both financial and personal, is another great motivation. Being your own boss gives you control over your destiny, allows you to make your own decisions, and work on your own terms. The autonomy achieved through entrepreneurship also provides greater flexibility to balance personal and professional life, helping you design a lifestyle that better suits your needs and priorities. This is a significant motivation for those seeking a more satisfying balance in their daily lives, as in the case of Beatriz Turumbay, External CPO of Code Contract, who comments that "becoming your own boss gives you a new vision of the work environment. But above all, being independent pushes you to be the first and last responsible for each of the steps executed from bottom to top, to risk making decisions without a safety net, and to trust your intuition and the trial/error of past experiences, to make decisions that lead your company to a good port." Personal Changes. Significant moments in personal or professional life, such as a career change, unemployment, a move, or a new life stage like parenthood, can be triggering factors for entrepreneurship. These transitions often inspire people to reevaluate their goals and aspirations, which can lead to the decision to start their own project and pursue dreams that previously seemed unattainable. An example of motivation for personal change is the case of Paula Villamarín, CEO of LinkedAI, who argues that "Every step I have taken, whether moving to a new country or making a strategic pivot, has been key to realizing my vision. Facing and embracing changes is a determining factor in my career as a CEO in the AI industry; in the end, it is the path to our true potential." Social Impact. The desire to have a positive impact on the community or the world is another key motivation. These people not only seek material success but also aim to contribute to solving social, economic, or environmental problems. Social entrepreneurs, in particular, are driven by the mission to create significant and lasting change. Mercedes Boyero, CEO and co-founder of ONKLUB, comments that "I became an entrepreneur to create opportunities and generate a positive impact on society, guiding young talents and helping them find their first jobs. My goal is for others not to face the same difficulties I experienced." Personal Development. The desire to develop new skills, face challenges, and continually grow drives other people to launch their own projects. Entrepreneurship not only allows them to learn in practice but also to discover new abilities and strengthen their confidence. Gerónimo Marsico, CEO of TwinTune, recounts that "At 16, I became an entrepreneur with the goal of personal improvement and to be a financial support for my family. My goal is to inspire other young people to face their fears and also surpass themselves." In addition to all these motivations, many entrepreneurs are driven by the desire to leave a lasting legacy. They want to build something that endures over time, transcending their own lives and contributing positively to society and the world at large. From this desire, entrepreneurs can make strategic decisions that go beyond immediate profits, seeking a lasting and meaningful impact on their community and the world. This motivation is exemplified in figures like Elon Musk, who emphasizes, "I always have optimism, but I'm realistic. I didn't start Tesla or SpaceX with the expectation of great success. I just thought they were important enough to do anyway," or Carlota Pi, CEO and co-founder who comments that "we created Holaluz to change the world." Remember that your motivations may change over time, just like your project, but the desire to be an entrepreneur always remains. The challenge lies in discovering how to integrate that motivation with your project.