The number one reason most Entrepreneurs start a business is to have more freedom. Whether it's freedom of control, creativity or to travel nothing beats the freedom of being the boss — at least when it comes to the entrepreneurship.
Research has shown that even through its hard work, must stay focused and disciplined, most entrepreneurs feel that the freedom is worth it. The researchers found that people were also motivated by the idea of creating something from the ground up. Overall, nearly two-thirds of respondents said they had started their own business because of the love of freedom.
Money is a benefit of having a business, but it was not on the other hand, a motivating factor for many entrepreneurs and only 10 percent of entrepreneurs said that was their main motivation for starting their own business.
Most entrepreneurs are very dedicated to building their businesses, the third reason for starting a business was to leave a legacy to their children. The entrepreneurs want to ensure that their children and grandchildren were taken care of and have a better life and would scale the business even further.
When interviewing firms that were Ultra-Lean, High-Revenue businesses the business model appealed to them even more because of the ability to have more freedom, most Ultra-Lean, High-Revenue business models are self-funded which gives them not only the freedom they seek but also the independence. Ultra-Lean business that produce High-Revenue, utilize technology more than traditional businesses. Some traditional businesses had previously even looked at technology as a concern, whereas Ultra-Lean businesses are looking at the rise of new technologies as more of an opportunity than a detriment for their businesses. More than half of the entrepreneurs said that new technologies like apps, mobile marketing and others were helpful to their businesses and were one of the main reasons they were able to scale so quickly and start lean. Learn more here