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To Be King or Not to Be… That is the Question

To be King or not to be is the question. As I am reading The Founder’s Dilemmas, Anticipating and Avoiding the Pitfalls that can sink a startup, by Noam Wasserman, the first subject I will be broaching on will be Wealth vs Control. Many Entrepreneurs seem to choose one of these as their driving factors, and I feel maybe that is one of the dilemmas.

As I dig deeper into this subject, keep in mind my intention is to give an organic approach to business growth with hopes of intermingling the findings I have required in reading this literature.  The real question I have after reading and researching is, can an Entrepreneur have both? Can they maintain control as well as choose wealth?

According to the “CareerLeader database, which includes more than 2,000 entrepreneurs (and 27,000 executives in total) worldwide, found for male entrepreneurs in their 20s and 30s, the top four motivators all amounted to forms of control or wealth gain.” (Wasserman, pg14).

There are not many studies on what drives women entrepreneurs, but a Kauffman Study (Robb, 2009) set out to fill that gap and conducted research on 549 respondents. Here are the highlights:

Successful women and men entrepreneurs are similar in almost every respect. They had equivalent levels of education, early interest in starting their own business (about half had at least some interest), a strong desire to build wealth or capitalize on a business idea, access to funding, and they largely agreed on the top issues and challenges facing any entrepreneur, (Frank).

So now that we know that women and men entrepreneurs all have similar driving forces, the question that keeps troubling me, is why can’t I be a King and Rich? Must I really choose? In other words, why is it that people have put themselves in a category of choosing either control or money? There has to be a balance where I can have it all, doesn’t there?

Here at Green Soul Marketing, we are an equal collaboration of skilled and passion driven individuals who have invested their time, experience and heart into helping others build their dreams and helping others take their business to the next level. Sometimes I lead, but I do not control. Sometimes I take am a player  as I always have something new to learn. We are driven by success and the ability to create a controlled environment, not only to empower our team members but our clients as well.

The message I have for my fellow entrepreneurs is to use the knowledge of the vast research and studies you conduct through out your business venture to pick and choose what is needed to create your own balance of control and wealth. It might take a little longer, but your patience and dedication will pay off.

Finding like minded people that share your passion, making smart financial decisions, finding open resources that offer lower cost options when starting your business it key to having it all. Instead of thinking, “I have to have $500, 000 to start my business”, try taking a different approach.

How can I build my brand on a smaller scale to get the following I need to slowly build my business in a stable fashion? I learned that fast money never lasts. It is the journey that makes the money, not the finish line. So to answer the question, to be a king or not to be.

I say YES…. be that KING or QUEEN that leads your business to great financial greatness!

Resources:

Wasserman, Noam. Chapter 1. The Founder’s Dilemmas: Anticipating and Avoiding the Pitfalls That Can Sink a Startup. Princeton, NJ: Princeton UP, 2012. N. pag. Print.

“Are Women Entrepreneurs Different From Men?” Carol Frank. N.p., n.d. Web. 27 Aug. 2015.

 

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