Entrepreneurs: Know what drives you
Are you thinking about going into business for yourself after reading Ferriss' book The 4 Hour Workweek? If you are then it's critical that you understand your motivations.
We all have different needs which fuel our desires to be entrepreneurs. However, if you match the wrong type of business with your particular need/driver combination you will most likely be miserable.
Kaleil Isaza Tuzman, who first gained notoriety in the documentary “Startup.com”, recently came out with a new product called The Entrepreneur's Success Kit. The kit comes in a box containing a small book, workbook, a hundred or so laminated advice cards, and two CDs.
The first half of the course alone is worth the price of admission as it explains the six basic drivers or motivations that fuel us into entrepreneurship and through life. These are the drivers in no particular order:
1. Money (i.e., dollars are the sole measure of success for people with this driver)
2. Recognition (aka, Fame)
3. Courage (i.e., the need to feel that one is being courageous by tackling significant challenges)
4. Victory (i.e., the need to win and finish first in everything)
5. Acceptance (i.e., the need to belong to something and feel accepted by others)
6. Health (Personally, I would have called this one “Balance” as it's a need for balance in life amongst competing priorities such as business, family, friends, and general health & fitness, etc.)
If you select the wrong business for your driver your entrepreneurial foray will result in failure and frustration. For example, a Money entrepreneur will not be happy unless he is involved in a venture which holds the promise of great riches being made. Venture capitalists love these types. Conversely, a Health or Acceptance entrepreneur should avoid venture capital investors as they do not want founders with any needs other than money and victory.
You'll have to buy the Kit to find out which type you are. It includes a self-assessment test and advice on how to select the right type of business based on your primary and secondary drivers.
Don't take it for granted that you already know your primary and secondary drivers. I was quite surprised by my results.