What is Entrepreneurial Motivation?
Motivation implies a driving force within individuals that gets them to act in the ways they do. Entrepreneurial motivations are regarded as the necessary steps of getting people to become entrepreneurs. Various researches have been conducted by many scholars on entrepreneurial motivations and the results have come up with that there are several factors that motivate individuals to become entrepreneurs.
In other terms, entrepreneurial motivation implies the forces or drive present within entrepreneurs that affect the direction, intensity, and persistence of their voluntary behavior as entrepreneurs. A motivational entrepreneur always works with the willingness to put effort into achieving certain goals with intensity and persistence.
The normal issue with the concept of “Entrepreneurial Motivation” is that many scholars still do not concur with all the special characteristics that entrepreneurs are supposed to possess to act as entrepreneurs.
However, several human motivations that influence the entrepreneurial process are identified by various scholars through their studies. Scholars have concluded that entrepreneurial spirits are not exclusively the result of human action.
The important factors in entrepreneurship other than entrepreneurial spirits include the availability of business capital, economy, government regulations, competitors, etc. Entrepreneurship is affected by various non-motivational factors.
Some of the most prominent factors that influence entrepreneurship are as follows:
- Unsatisfactory and unacceptable work environment
- Unnecessary career transition
- Positive pull influences.
Apart from these, the other characteristics of an entrepreneur are as follows:
- A well-established family business.
- Childhood learning and experiences.
- Family environment one was in.
- Education that one has received.
- Age of individuals and risk-taking ability.
- Work history of the individual.
Some of the imperative factors of entrepreneurship are as follows:
- A desire to discover and apply innovative thoughts.
- A desire for working with independent functioning.
- A desire for dealing with financial independence.
- A desire to attain personal goals.