Want to start your own business? Before you start hunting for that one great idea, the question to ask yourself might be “why”? If the answer is that you long to become fabulously rich, you’d better just slink back into your cubicle and call it a day. Research by Dr. Kathleen Vohs at the University of Minnesota has determined that not only is money a bad motivator, but that chasing it – as opposed to less tangible goals – can actually doom a business.
The reality is that starting a business is a real test of personal work ethic and internal fortitude, one that often doesn’t even deliver enough to make a living, let alone build an empire. Entrepreneurs who take that risk are able to do so precisely because they’re motivated by things other than money. But there’s some irony here in that those who fail to follow the money are more likely to find it in the end.
With that in mind, check out some signs that you have the right personality to propel a new business – and to profit from it – in my new article on GoldenGirlFinance.com.