At Go BIG, we work out of a startup company incubator with about 40 other companies. It's kind of like a big dorm room for startups, with every office being another company, another idea, and another opportunity.
If you leave our office incubator on any given night, chances are you'll see my car in the parking lot long after the other cars in the parking lot have left. Really that's kind of weird, since I've sold a few companies and should be living it up while these other guys are still stuck in debt and proving themselves for the first time.
So I often get the question - "If you don't need to work this hard, and it's not about the cash, then why is your car still in the parking lot?"
Good question. Let me give you three reasons that it's not about the cash. And what I'm talking about isn't limited to the motivations of serial entrepreneurs like myself, it's about the motivations of those that are willing to go above and beyond to succeed - Founder or otherwise.
#1 - I &%$!# Hate to Lose. Of all people, Alex Trebek (yeah, the Jeopardy guy) had the best quote I can think of when it comes to winning and losing - "I never gamble. It's because winning brings me so little joy and I &%$!# hate to lose."
That's the way I feel about starting a company. I can live with not making money (I grew up poor, I'm used to it). What I can't live with is losing. So when my car is there in the dark by itself in the parking lot, it's not about making the payments, it's about earning it's spot by winning.
#2 - Nothing Beats the Game. If you really love starting companies like I do (10 and counting) then you love being part of the game. It's not like Michael Jordan decided after his first NBA title that he was no longer interested in playing basketball.
He played basketball because he loved the game. Winning came from doing what he enjoyed.
I've had the good fortune to meet quite a few serial entrepreneurs, many of whom don't need to work financially. Over and over again they will tell you, it's not about the cash, it's about the game. The challenge tests your wits, and nothing beats it.
# 3 - It's What I'm Built For. While I have lots of other activities and interests, when it really comes down to it, starting companies is what I'm built for. I'm an entrepreneur, probably like you if you're reading this blog.
I could be boating, snowboarding, or playing hockey if I wanted to -- But I'm not. While they certainly bring me joy, they don't bring me satisfaction. Not the satisfaction that comes from getting an e-mail from someone that reads, "I used your site, Go BIG, to find funding. Thank you so much!"
Knowing that my efforts can help build tools to make the world a better place is a really great feeling. And when it comes down to it - that's what I'm built for.
# 3 and a half - OK, the Cash Doesn't Suck. OK I'll admit, I'm not completely altruistic in my pursuits. The cash doesn't suck. But if it were just about the cash, I'd probably make more money as an investment banker.
That kind of drive, is something you can't go to college for.