Last class, we discussed a case involving two entrepreneurs who undertook an old theater to preserve its historic value knowing that the profits were unlikely. This case spawned a discussion regarding the different motives and measures of success of entrepreneurs. Besides profitability and being one’s own manager, our class came up with a wide array of answers. Measures like adaptability, impacting society, innovation and establishing goodwill were just a few that we came up with.
This discussion really got me thinking about entrepreneurship and how unique it is in comparison to other aspects of business. While most business courses teach that profitability is the reason for doing business, entrepreneurship argues that theoretically a person can establish a business for any number of reasons and that success can be achieved through many different measures, not just profitability.
So what motivates you as an entrepreneur? How do you measure success in your business venture?
