In one of my past startups, I had a co-founder who had a pretty clear goal: he wanted to make $1 million for every year he worked on this startup and he wanted to leave a positive impact on the world.
I was surprised by the clarity of that thought and began asking other founders what their personal goals were. It turns out that a surprising number of startup founders aren’t really sure why they run a company, let alone what their personal goals are.
In this world of metrics and goals, that blew my mind. It’s not just about a coherent business model or a solid plan for your product or service. As a founder, you need to dig deeper; You must have a lucid understanding of your goals for starting a business.
The appeal of entrepreneurship is undeniable: it offers the thrill of creating something new, the possibility of immense financial success, the opportunity to revolutionize industries, or even the potential to change the world. However, the path is fraught with challenges and stress, often making the comfort of a nine-to-five job seem immensely attractive.
So why take the step? Why walk the tightrope of startup life? The answer is probably tied to your personal goals.
If you’re looking to make a meaningful difference in the world, your startup could be the vehicle that drives that change. The world has witnessed the transformative power of startups like Facebook, Tesla, and Airbnb. They started as small initiatives driven by founders who wanted to disrupt the status quo. The personal goals of these entrepreneurs were not simply profitability; They cared about creating a lasting impact.
But how is that impact measured?
