Money is also a way of keeping score, rather than just an end in itself. The average age of entrepreneurs starting high potential businesses is in the mid-30s, and there are numerous examples of entrepreneurs starting businesses in their 60s. What is critical is possessing the relevant know-how, experience, and contacts that greatly facilitate recognizing and pursuing an opportunity. Entrepreneurs seeking high potential ventures are more driven by building enterprises and realizing long-term capital gains than by instant gratification through high salaries and perks. A sense of personal achievement and accomplishment, feeling in control of their own destinies, and realizing their vision and dreams are also powerful motivators.
Money is viewed as a tool and way of keeping score.
They thrive on a sense of accomplishment and of outperforming the competition, rather than a personal need for power expressed by dominating and controlling others. By virtue of their accomplishments, they may be powerful and influential, but these are more the by-products of the entrepreneurial process than a driving force behind it. Rarely is a new business established solidly in less than three or four years. Of the ventures of entrepreneurs with good ideas who seek out venture capital, only 1 to 3 out of 100 are funded. The accompanying lack of discipline and impulsive spending usually lead to serious problems and failures.