Money, recognition, or problem solving, why do most successful long term startups come out of a personal need? Let’s think about it by asking two questions. But first,
It takes an average of 7 years for a startup to get acquired and a little longer to go public.
Why did you quit your last activity when you seemed very excited at first? What activity did you start and haven’t ended in 7 years?
Here is how these two questions helped me understand startup motivation.
Few years ago, I built a web solution that aimed to reward users for their eco-friendly actions. I was very excited, had a lot of faith and worked really hard to build something valuable with a good cause in mind. The idea came to mind when I saw a video about a recycling vending machine so I wanted to turn the concept into a scalable solution. I knew the time and effort it would take to make it happen but I still went for it despite my limited resources. Meetings and negotiations with recycling companies, reward providers, environmental organizations, and governmental institutions burned me out. I realized that I had actually started the venture for entrepreneurship and not for the problem. It was an invaluable experience which started with an observation and ended with profitability, great connections and deliberate cancelation.
One thing I started a couple of years before the first venture and will last many years ahead is helping entrepreneurs build profitable and scalable startups. This is my answer to the second question. It is in this area that I will excel because if there is one thing I wish I had back then when I started is what I worked hard to currently have.
For a better and healthier personal and entrepreneurial life, solve problems that matter to you and let the money and recognition come chasing you.
This is Abdo Riani. One of the founders at AspireIT. We help business owners and experienced professionals leverage experience to build viable and valuable solutions.
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