Assignment: Reflection on What Motivates You to Consider Entrepreneurship

Zarmeena Bakhtiar

National Institute of Psychology, Quaid-i-Azam University

MS-100: Entrepreneurship

Dr. Sattar Mazhar

March 19, 2025

 Assignment: Reflection on What Motivates You to Consider Entrepreneurship
My personal statement related to leadership roles and seeking independence:
I don’t mean to brag, but over the years, I think I’ve picked up one or two leadership
qualities; whether through skill, experience, or just sheer persistence in looking like I know what
I’m doing. It reflects from leading my school’s literary society in school and then being the
captain of my college basketball team. Reflecting on leadership I can also conclude that as a
student of psychology, I have assessed myself to be better defined by words like: free spirited,
independent, and solitary. Driven towards isolation merely because I see myself thriving in
solitude. If I’m forced in a group activity, I usually struggle to attain to someone else’s orders
and their leadership if they don’t allow enough room for personal opinions and choices. Despite
getting the job done, I find that it does not provide me my creative freedom and thus restricts my
flow of ideas. I struggle with deadlines too as I cannot sit at once and put all my efforts towards
a single task in one go and would rather complete it in chunks with my own freely times creative
flow. Due to this very reason, when entrusted with the role of leadership, I try to make sure that
all my group members are able to showcase their individual abilities. This pretty much sums up
the core of entrepreneurship as well.
What is entrepreneurship?
Entrepreneurship is defined as the process of creating, developing, and managing a new
business venture, often involving innovation and risk-taking to identify opportunities and bring
new products or services to the market.
What is motivation?
According to Cambridge Dictionary, Motivation is defined as the:
o Willingness to do something, or something that causes such willingness.
o Enthusiasm for doing something.
o The need or reason for doing something.

Hence, the above mentioned definitions explain that in order to do something, there must be
a driving force that enables that specific behavior. Therefore, for someone to get motivated
towards entrepreneurship – there must be some driving force. That “driving force” can be
intrinsic or extrinsic.
Types of motivation:
1. Extrinsic motivation arises from outside of the individual and often involves external
rewards such as trophies, money, social recognition, or praise.
2. Intrinsic motivation is internal and arises from within the individual, such as doing a
complicated crossword puzzle purely for the gratification of solving a problem.
In less technical terms and more equipped to entrepreneurship we can declare the following as
extrinsic and intrinsic motivations:

Intrinsic Motivation

1. Personal Satisfaction: Entrepreneurs find fulfillment in creating and growing businesses,

turning ideas into reality.
2. Autonomy: They value independence, making decisions that shape their vision and business
direction.
3. Mastery: Entrepreneurs strive to refine skills, innovate, and improve their strategies for
success.
4. Purpose: Many are driven by a meaningful mission, such as solving societal issues or
making an impact.

Extrinsic Motivation

1. Rewards: Financial success, recognition, and customer loyalty serve as key motivators.
2. Avoidance of Negative Outcomes: Fear of failure, competition, and financial loss drives
resilience.
3. Social Validation: Recognition from peers and media builds credibility and business
confidence.
4. Achievement Motivation: Entrepreneurs set high goals, overcome obstacles, and push for
excellence.

Why I Am Motivated to Pursue Entrepreneurship

With the growing age we see that it becomes more and more difficult to pertain to the belief
that your moral drives are stronger in order to complete a task. Realistically people are more
inclined towards jobs that pay well or those that open ventures for them to attain financial
security. The things that motivate me to move towards entrepreneurship out of the above driving
factors are

1. Existential Living – Creating Something Only I Can Offer

I strongly believe that every individual has something unique to contribute—something that
no one else can replicate in quite the same way. This idea fuels my desire to become an
entrepreneur. I want to put something out into the world that is shaped by my specific skill set
and vision. For me, this means developing a strong conceptual foundation in my field, mastering
my craft, and eventually passing on those skills to others. Teaching and mentoring others is an
essential part of this vision because it ensures that valuable knowledge does not get lost over
time. By identifying gaps in education, industry, or social structures, I hope to offer something
that is both useful and enduring.

2. Financial Independence – The Freedom to Make My Own Choices

One of the most appealing aspects of entrepreneurship is the ability to be financially

independent. I admire the way entrepreneurs have control over their earnings and are not
confined to a fixed salary structure. They can experiment with different financial strategies,
reinvest profits, and decide where their money should go. Being my own boss would allow me to
work harder when I have the energy and scale back when I need rest, without having to worry
about permission from a superior. This flexibility in managing finances is something I find
deeply motivating because it puts me in charge of my own economic stability.

3. Flexibility – Setting My Own Rules and Deadlines

Having control over my own schedule is another major reason I am drawn to

entrepreneurship. Unlike traditional jobs, where deadlines and priorities are dictated by
employers, entrepreneurship allows for flexibility in work ethics and personal conduct. I like the
idea of being able to structure my day according to when I am most productive rather than being
forced into rigid time frames. This autonomy ensures that my work aligns with my values,
making it a much more fulfilling experience.

4. My Own Leadership Framework – Making Decisions Aligned with My Values

Leadership is not just about managing people; it is about setting a direction that aligns with
one’s core principles. I believe that entrepreneurship allows individuals to establish a leadership
style that reflects their personal ethics and long-term vision. Rather than conforming to an
organization’s existing structure, I would have the freedom to create my own framework—one
that prioritizes fairness, innovation, and meaningful contributions. This sense of ownership over
decision-making is something that strongly appeals to me.

5. The Ability to Take Breaks – Balancing Work and Life

In a traditional 9-to-5 job, taking time off is often a complicated process. Employees must
seek approval, submit applications, and wait for acceptance, all while being mindful of how their
absence may affect their standing in the company. Entrepreneurs, on the other hand, have the
luxury of scheduling breaks on their own terms. I appreciate the idea of being able to step back
when needed without the fear of negative repercussions. A well-balanced work-life schedule is
crucial for maintaining long-term productivity and mental well-being, and entrepreneurship
offers the ability to prioritize this balance.

6. Managing My Own Profits – Maximizing Returns and Investments

 According to Richard Cantillon’s essay On the Nature of Trade, an entrepreneur is someone
who buys at fixed prices and sells at variable prices, making strategic decisions about where and
how to allocate resources. This concept resonates with me because it highlights the importance
of financial acumen in entrepreneurship. I like the idea of being in control of my own profits—
deciding how much to reinvest, where to cut costs, and when to expand. Rather than being
limited to a fixed paycheck, I would have the ability to maximize earnings based on my own
strategic choices.

7. Bringing Innovation – Identifying Gaps and Creating Solutions

I have always been drawn to the idea of innovation—finding gaps in the market, addressing
unmet needs, and creating something new. Entrepreneurs are problem-solvers at their core. They
recognize inefficiencies and work toward improving them. This process of identifying problems
and crafting creative solutions excites me because it allows for both personal growth and societal
progress. I want to bring fresh perspectives into my field and maximize the utility of resources in
a way that has a real impact.

8. Making a Difference – Tackling Problems in Society

Too often, we see problems in society that are simply accepted as the norm. Many of these
issues cause inconvenience, inequality, or even harm, yet they persist because people assume that
a single individual cannot make a difference. I refuse to accept this mindset. I believe
entrepreneurship offers a platform to challenge these flaws head-on. Whether it’s through
launching a socially responsible business, creating accessible solutions, or advocating for
positive change, I want to use entrepreneurship as a means to address the issues that matter to
me.

Conclusion:

At its core, my motivation for entrepreneurship is deeply personal. It is about creating

something meaningful, making strategic choices, and having the flexibility to live life on my
own terms. I see entrepreneurship as a path that allows me to combine my passions, skills, and
values into something tangible. While challenges are inevitable, the rewards of innovation,
impact, and personal fulfillment far outweigh the risks.