For Inventors & Researchers: Why Start a Company?

The two most common reasons people give for starting their own businesses are simple and understandable: money and autonomy. Of course, there are countless variations on those themes. Here are some examples.

To enable the purchase of something significant that is currently out of your economic reach, such as a custom residence or a vacation home.

To finance college education for your children or grandchildren.

To build a more substantial retirement fund.

To eliminate bureaucratic barriers to personal growth.

To do “it” right.

To stop making other people rich.

Often there is a social responsibility component as well. Its importance can vary from a fortunate coincidence to the driving force behind the whole enterprise. The way to make the world a better place can be -

To prevent the spread of a dreaded disease.

To reduce air pollution.

To make good housing more affordable.

To help handicapped people lead more productive lives.

And so on.

Whatever the reasons, clear or vague, individual or social, they must add up to a reservoir of passion and energy that can carry the enterprise through birth, childhood, and adolescence. In the end, it is personal passion that leads to success, not skill, not knowledge, and certainly not simple greed.

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