Modern startups aren’t just motivated by financial benefits in this day and age. In fact, new business owners often have much more powerful motivations for starting their company, which can be passed down to the employees on your team. Keep reading as we explore five of the best non-financial reasons for modern companies being founded, all of which can inspire you to keep working toward success.
Start with why
by Simon Sinek
⏱ 14 minutes reading time
🎧 Audio version available
Giving Back to Your Community
Without a doubt, one of the biggest reasons for starting a company is to give back to your community. This could be your local community or the community in general that your product or service appeals to. This is one of the most powerful ways to motivate your employees, as they’ll see who they are impacting with their work every day.
As you learn more about the people your products are assisting, you can tailor your work to better meet their needs. Giving back to the community is something that more business owners than ever are concerned about, especially in the aftermath of the pandemic. Your employees should be encouraged to learn more about the people they are helping, so that they can keep them in mind during the rougher days at work.
Offering an Innovative Product or Service
Startups are always looking to push boundaries when it comes to the products and services they offer. When you are creating a new product, you probably want to offer something that has never been seen before on the market. This is a huge source of inspiration for your employees, who will be excited to shake up the field and work hard to make a real impact on the world around them.
We all have problems in our daily lives, and working to find a solution to these can be a huge source of motivation. When you onboard new employees into your startup, make sure you explain the benefits of the services or products you hope to offer. The more information you can provide them with, the more likely they’ll be to want to come to work each day and help out to make your startup a success.
Creating New Jobs
The past two years have been incredibly tough for many people. The COVID-19 pandemic really shook up the job market, leaving many qualified and highly skilled individuals unemployed. A good source of motivation for startups is the ability to add more jobs to a local market. As your company continues to grow and expand, you’ll find that you can help to add more positions and expand the job vacancies that your company has.
Creating new jobs is something many people dream of doing when starting a business. It has a huge impact on the local and national economy, and can transform the lives of your employees and their families. While it may not be the first thing that comes to mind during the initial employment stages, as your business becomes more profitable, you’ll start to notice that you can make an impact on the world around you. Of course, you’ll want to focus on offering an excellent employee experience at the same time, so that you can retain talented employees within your organization.
Be Your Own Boss
So many people today have no interest in working for a company for the rest of their lives, which is why people are hope to own companies or work independently. For many startup owners, the thought of being their own boss for the rest of their career is a huge inspiration through all of the hard work you’ll have to complete in the early days.
Being your own boss comes with a huge range of challenges, many of which people don’t realize will be an issue before they start working for themselves. We highly recommend taking the time to think about whether you’ll be cut out for this task, as it’s not for everyone. Being a business owner can often feel like a lonely path, but the rewards in the end often outweigh the struggles. You’ll enjoy the independence and freedom of not having to report to anyone else, which for many people, is completely priceless.
Make a Change in the World Around You
Startups have the opportunity to change the world around them in many ways. This could come about in the form of offering your employees a better quality of life. By listening to what employees of other companies have to say and making the necessary changes, you can strive to make your team excited to come to work.
On top of that, you’ll be able to work in a way that reduces your impact on the environment and creates a positive change in the local area. From day one, we encourage you to put policies into place that will help to reduce the negative impact your work can have on the world around you. You’ll soon be seen as a conscious business owner, which will help to attract both funding and new customers for your business. The opportunity to make a real change in the world will motivate you, and it’s something we encourage you to discuss with your employees regularly.
These are five of the most powerful non-financial motivators for starting a new business. While many startups are often motivated by potential financial gains, these will likely come further down the line than these benefits. We encourage you to think about how your new business can have an impact on the world around you, so that you are excited every day to come to work and make a difference.
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