Entrepreneurship is a tough field to break into. It takes a lot of courage, determination, and patience to run a business from scratch. But what exactly makes an entrepreneur great? Being self-sufficient and competitive help – but at the end of the day it really all comes down to drive.
There are various kinds of drive that can be found in entrepreneurs; there’s the motivation that propels people forward when they face failures or obstacles (known as “extrinsic”), and there’s also the kind where someone is internally motivated by their ambition (or “intrinsic”). A greater balance between these two types leads to more success for entrepreneurs.
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The Intrinsic Drive of Entrepreneurs
Many have heard of Steve Jobs and his iconic rants about dying, dying, dying. The single greatest policy that Steve Jobs ever had was his “think different” mantra, which he used to make it clear to everyone what he believed in – and the way he would go about it. They say no one is smart enough to be successful in business or life if they don’t believe they can change the world (or at least that’s how Steve Jobs saw things).
Entrepreneurs who have this kind of drive will find themselves constantly questioning their ideas and search for ways to improve them. They are driven to be their best. There’s no room for mediocrity – they’re in it to win, and they will do whatever it takes.
The Extrinsic Drive of Entrepreneurs
This is the kind of drive that makes entrepreneurs want to make money. It’s the reason why many people jump into business – because they want to be rich. While money can give you a sense of security, people with the intrinsic drive are looking for something much bigger than that. When you have these kinds of dreams, you often find yourself setting out to change the world in some way, shape, or form.
To demonstrate this, think about the world’s most influential visionaries – people like John D. Rockefeller who started Standard oil, Elon Musk who created PayPal, or even Martin Luther King Jr. whose goal was to free all of society from oppression. These are people who were driven by their ambitions, and it is these kinds of entrepreneurs that can change the world for the better in many ways.
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The Balance Between the Intrinsic and Extrinsic Drives
While Steve Jobs may have had a stronger intrinsic drive than other entrepreneurs in terms of what he wanted to achieve in life, he was still driven by his extrinsic drive to succeed financially. This is the balance that great entrepreneurs strive to find. At some point, they may find themselves more driven by their intrinsic motives; however, it’s important for them to remember that the things they’re working on don’t exist in a vacuum – and there needs to be a greater purpose than just helping people.
If you want to get ahead in this world, be sure to learn from the best and apply their drive and determination in your own life. Not only will it help you improve your own life but also everyone around you. Written by: Ben Fawcett, CEO & Co-Founder of Studypool.