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The Money Minded Entrepreneur

By on Apr 24, 2010 | 0 comments

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I have serious issues with wannabe entrepreneurs who think entrepreneurship is the easiest and the best way to make lot of money in short time. Why do I have problems? Because they contribute to the failure rate of entrepreneurs; which intermediates other wannabe entrepreneurs who aren’t money-minded.

Entrepreneurship isn’t really what it looks to the people who sit inside cubicles. It isn’t simply ‘getting a client who will pay money’. Its about building a ‘system’. A system that keeps on working for you and is independent of you. I think this is one of the most important points – the system you build has to be independent of you. It should function without you. That’s what an entrepreneur should focus on building.

Money is a by-product. The focus of any entrepreneur should be on solving the problem that affects many lives. When you solve problems for the masses (or classes); you can make money. Microsoft solves the problem of complicated computing, Google solves the problem of finding relevant information on the Internet. Your grocery store solves the problem of access to grocery whenever you need it. TV solves the problem of boredom and so on.

If you only focus on money; you will be disappointed soon. Building the system is hard and often takes time. It takes dedication from the founder(s). If you are thinking about starting a business; think again. Are you starting because your only aim is to make money; stop. Are you really interested in solving some problem? Are you passionate about what you’re doing or intend to do? If not, don’t go for it. Often you’ll end up with lesser money than you initially had and broken relationships (with cofounders, clients and stakeholders).

The Big K

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