Do you really think that money should not be a motivator at startup?

Question

I have always heard this motto from many entrepeneurs: do what you are passionate about, do not do anything just for money!

I agree to money as a medium of exchange, but nonetheless I consider this an important factor.

What do you advise / think IT entrepreneurs: focus on market / money or just what are you passionate about?

Answer 1

Startups, in general, take all your waking time, deal with stress, require high-quality and creative work, and do not guarantee a return. For something like this, most people need all the motivation they can get, and large amounts of money (not guaranteed) are not enough. If you are not passionate about what you are doing, you are likely to fail and will almost certainly be unhappy.

Saying this, if what you are passionate about is not what people will pay for, leave it as a hobby.

Answer 2

Do not do what you do not want to do just for the money. If this is what you want to do, take the money.

If very large bags of money are involved, preferably with a large dollar icon printed on the sides that covers everything else.

Answer 3

You see it as a black and white problem when it is really a gray problem. I would say that for business you need to do what you are passionate about, but also has a reasonable expectation of profitability.

Money is not the main goal, but you need to keep your options.

Answer 4

There is always a happy environment. I think it’s important to do what you are passionate about ... but you can still put food on the table. If your passion means living with rat traps and letting your children go hungry, then you can suck it and find what you are less passionate about. Or perhaps do what you're passionate about during the day, but deliver pizza at night to make up for. However, I think it’s normal, if you do what you love, it means buying a car-builder and taking a vacation to relax instead of going to places with floating bars.

Answer 5

Each has its own breakeven point. Let's face it, if someone offers you $ 1 billion to do something despicable, you will do it very well.

So, in the end, it's all about what you value.

When it comes to ME:

I personally believe that money is important, it provides security and a sense of mind. It is also very difficult for me to sleep well at night, if I am sure that my work is safe. It said that I couldn't get myself up in the morning if I hated what I was doing. You also do not need to do anything for the rest of your life. This makes you move toward a larger goal, taking up less desirable work for a year or two, may be a means to an end.

So, saying “don't do anything for money” is a bit shortsighted. In my humble opinion.

Answer 6

Find the point where the two collide ... money and your technical passion ... but do not forget that managing all this does not depend on both areas.

Answer 7

If you have a lot of capitol to support your ideas, I think that money should be more of a motivator. But you need to find a good combination of money and the market. You can come up with this great idea, but the market will not support it or come up with a fast-growing market, but there is no idea to build for the market. In any application that I build, I look at the audience of the utility / website, etc. And I see if there is already a utility that does something like this, and I see how it works, sells, etc. And it usually tells me if the market is full of tools, or if my idea can sell. Do not do what you like, you need a good mix. You can always make passionate ideas as a side job, while you create reliable apps that will make you money.

Answer 8

Many people followed their passion without having a viable profit model during the .com bubble. As a result, the Internet is dotted with sites that raised twenty million dollars, built something cool, and then disappeared due to lack of income.

If people invest in a new business, he always gets the money. If you do not make a profit, they will eventually stop financing your hobby.