February 27, 2023

Are Entrepreneurs Motivated by Money?

30 minutes

If you are an entrepreneur, are you primarily motivated by money, or are you motivated by something more intrinsic? There are various things that drive an entrepreneur, and most of them actually have very little if anything to do with money. Listen in as we dive into that very topic, sharing what motivates us personally.

Research shows that there are four common motivators for entrepreneurs: control, freedom, impact, and of course money. We walk you through each one of these, giving real-world examples from our own experiences and the experiences of entrepreneurs in general.

We do acknowledge, however, the difference between being motivated by money and being motivated by wealth. Wealth to us means not having to worry about money rather than being primarily motivated by it, but being primarily motivated by it can be a mistake because money ebbs and flows and comes and goes. True passion and enjoyment for what you do is here to stay.

What is your primary motivation? We hope that this conversation is insightful for you, and if so, please consider subscribing to the podcast (if you aren’t subscribed already) wherever you listen so that you never miss an episode! Please also feel free to reach out to us via one of the methods listed below if you have anything you’d like to share. See you next time!

Time Stamps

[0:52] - Michele declares that she isn’t motivated primarily by money.

[3:11] - There are four common motivators for entrepreneurs.

[5:47] - Karamel elaborates upon the idea of there being three days in twenty-four hours.

[7:53] - Learn why Michele doesn’t like to work from home.

[10:52] - Karamel opens the conversation around impact.

[13:43] - Michele gives examples of what impact looks like.

[15:51] - Karamel returns the conversation to being motivated by wealth.

[18:01] - Karamel touches upon extra money coming in so you don’t have to worry about it.

[20:23] - Hear what a whiteboard session is.

[23:15] - Karamel argues that motivations can shift and change over time.

[25:15] - Michele ranks the top four motivations in order of importance to her.