He differs from the conventionally defined businessman in many ways. The entrepreneur's motives are not merely to avoid loss, turn a modest profit if possible, defend the organization, maintain a position, and win approval for exemplary conduct. The entrepreneur is possessed above all with drive, insight and ingenuity. The entrepreneur, however, has more complex motives. The will to power is a basic factor in human psychology, and many economic motives derive from this will - the entrepreneurial drive included.
Possessions often bring power and position.
George Gilder, however, reminds us that individual economic motives need not be altogether selfish. Henry Ford not only sought profit, but hoped to provide transportation at low cost for the people of America. Emulation, nevertheless, is a prime factor for each entrepreneurial venture. When other people are making substantial profits, the entrepreneur wishes to do the same thing. The speculative aspect of entrepreneurship has been emphasized by Ludwig von Mises in his great book, Human Action.