There’s an opportunity that entrepreneurship offers, often married with mobile and dot com technologies which most of us are very much aware of. Why? Well because some of the most high profile successes in recent years have come from people from all walks of life who have used technology to ‘make it’.
So naturally this encourages somewhat of a gold rush effect in the hope that similar success can be attained.
In principle, this is fair enough, but in practice there’s a problem, a big one.
Now this may not be you, but if it is then listen keenly because we all know someone like this. I’m talking about the budding entrepreneur young or old who comes up with an idea for the next ‘big thing’ but their conversation is stuck on how much money they’ll make from it and how rich they’ll become.
For far too many entrepreneurs this is the driver – money, not value or innovation. This is the reason why for every successful mobile app or dot com there are literally thousands who don’t make it.
Now I’m not suggesting that wanting to achieve monetary success is a bad thing, but if you’re only in it for the money then your chances of success are slim. Starting up your own company tech driven or otherwise and making it a success is not an easy task. And no matter how much you think money will motivate you toward achieving that success you’ll find out that it really isn’t.
People are internally motivated by success, validation, growth, creating change and bettering themselves more than they are by money. If your start-up fails to deliver some of those softer motivations then it may not last the distance.
To make things even more complicated, what are your teams motivations? Are they the same as yours? Are you sure? How do you know? I’ve seen countless businesses with perfectly good ideas fall apart because their team wasn’t on the same ‘page’ and (figuratively of course) jumped into bed too soon.
So what’s the solution? Easy – build a product or service that people will find useful, that lots of people will find very useful in fact. Make it really good, in fact make sure it’s excellent and you’ll find that revenue will soon be a by-product This is exactly what Facebook, Twitter and YouTube did so you’ll be in good company.