Why entrepreneurs start their own business?
The Motivational Matrix
Why people start businesses, what they want out of the entrepreneurial life, and how their values change over time
2. The Motivational Matrix
Why people start businesses, what they want out of the
entrepreneurial life, and how their values change over
time
3. Wasserman and Timothy Butler, senior fellow and
director of career development programs at Harvard
Business School, surveyed roughly 2,000 founders
about their motivations. They carved out results for
men and women in their 20s, 30s, and 40s-and-
beyond, and compared the results with those for
thousands of non-entrepreneurs who completed the
same survey.
4. The Motivation Matrix
20s
30s
40s +
AuAutonomy
AuAutonomy
AuAutonomy
Buchanan, 2012
AUTONOMY
No.1, motivation for entrepreneurs
of all ages is not having a boss.
5. The Motivation Matrix
20s
30s
40s +
AuAutonomy
AuAutonomy
AuAutonomy
PiPower and
Influence
PiPower and
Influence
Buchanan, 2012
POWER AND INFLUENCE:
Entrepreneurs care almost as
much about being the boss as
about not having a boss. They
want to be leaders
6. The Motivation Matrix
20s
30s
40s +
AuAutonomy
AuAutonomy
AuAutonomy
PiPower and
Influence
PiPower and
Influence
IcIntellectual
Challenge
Buchanan, 2012
INTELLECTUAL CHALLENGE:
Entrepreneurs are often financially
comfortable in their 40s, which
make room in their lives for
seeking satisfaction elsewhere.
7. The Motivation Matrix
20s
30s
40s +
AuAutonomy
AuAutonomy
AuAutonomy
PiPower and
Influence
MpManaging
People
PiPower and
Influence
IcIntellectual
Challenge
MpManaging
People
Buchanan, 2012
MANAGING PEOPLE:
Young entrepreneurs managing
people with other early motivation:
power. As leadership experience
teaches them the joys of inspiring
rather than directing, their interest
in pure management wanes.
8. The Motivation Matrix
20s
30s
40s +
AuAutonomy
AuAutonomy
AuAutonomy
PiPower and
Influence
MpManaging
People
PiPower and
Influence
IcIntellectual
Challenge
MpManaging
People
AAltruism
Buchanan, 2012
ALTRUISM:
Altruism is more important to
entrepreneurs later in life perhaps
as they begin to consider their
legacies. They will to sacristies
money to make a difference.
9. The Motivation Matrix
20s
30s
40s +
AuAutonomy
AuAutonomy
AuAutonomy
PiPower and
Influence
MpManaging
People
PiPower and
Influence
IcIntellectual
Challenge
MpManaging
People
AAltruism
FgFinancial
Gain
Buchanan, 2012
FINANCIAL GAIN:
Entrepreneurs see money as a
symbol of success, though money
matter less as they age —
perhaps they already have enough
of it.
FgFinancial
Gain
10. The Motivation Matrix
20s
30s
40s +
AuAutonomy
AuAutonomy
AuAutonomy
PiPower and
Influence
MpManaging
People
PiPower and
Influence
IcIntellectual
Challenge
MpManaging
People
AAltruism
FgFinancial
Gain
Buchanan, 2012
FgFinancial
Gain
VVariety
VARIETY:
Variety grows more important as
old entrepreneurs graduate from
constantly fighting fires and begin
to recognize a thousand
opportunities to do business.
11. The Motivation Matrix
20s
30s
40s +
AuAutonomy
AuAutonomy
AuAutonomy
PiPower and
Influence
MpManaging
People
PiPower and
Influence
IcIntellectual
Challenge
MpManaging
People
AAltruism
FgFinancial
Gain
Buchanan, 2012
FgFinancial
Gain
VVariety