Starting a Business - why really?
I heard once that true reason people become entrepreneurs is to become rich or popular (ideally both). I don’t buy it. Becoming rich doesn’t hurt but for A players it’s never a sole motivation. Many founders don’t have to work anymore and start again and again. You can also get rich in corporates if you are smart, lucky and inhumanly patient. And when it comes to popularity, at least half of great entrepreneurs I’ve met strategically and systematically avoid fame.
A game in which you invest your health, youth, time with family, financial and mental security (list goes on) should be far way more than money and fame.
I analyzed my own reasons why I started Urban Impact 5 years ago to get to some more convincing reasons.
to play with skin in the game
I guess if I’m honest with myself at the start it was all about dreaming big, hunger to win, making a difference and taking responsibility in full. It truly wasn’t about money and definitely not about popularity (shy people know why).
to create
It was my creative act, as Rick Rubin helped me to understand with his brilliant book. Ochestrating people, actions and capital over the certain timeline can be composed and executed in unlimited number of ways, like putting paint on canvas or sounds together. It was and felt like creation. It fed us energy, joy and meaning.
to learn
Urban Impact was also about exploration. I was curious to the point of mini obsession with the realm of urban innovation and how it really works. I just needed to now it all:
Can cities and startups really work together? (is it possible to marry efficiency machines with bureaucracy).
Hackathons, urban labs, calls for innovation, innovation challenges - what is this all? does it really work? is it a waste of time and money or justified and strategic digitalization efforts?
How to harness the power of VCs for urban innovation? But really and truly. How to squeeze every inch of their Ockham razors and clinical lack of patience so that tax money is spent in the most smart and efficient way?
Should innovation in cities just spread and do its magic or should it be closely controlled, monitored or even blocked in some cases? When would it be stupid and when responsible?
What is Europe doing with all the EITs, Horizons, regional and local grants, founders support schemes, tax deductions etc. Are we spending billions a year the best way we can? Can we spend it smarter?
What is the corporate role in the innovation game? Do they understand whats going on? Do CVCs and venture builders make sense? How can billions from real estate, automotive, energy, water and other cities relevant sectors fuel urban innovation?
Who are the young people in public institutions? Are they fighters for the public good or “we always did like that” crew?
In the course of over 5 years, 100+ projects and thousands relevant conversations I found my answers which proved me that the speed and quality of learning by doing cannot be achieved in another way.
I wouldn’t necessarily recommend any founder to pitch to investor passion, curiosity and need of challenge as a reason for starting a company. But I wouldn’t recommend all founders to talk to investors either. Sometimes we just need to do our thing.
