Factors that Motivate Entrepreneurs: Jeff Bezos

This report explores the factors that motivated Jeff Bezos to become a successful entrepreneur. It discusses his passion, financial background, risk-taking attitude, and personal growth. The report also highlights the importance of these factors in achieving entrepreneurial success.

ENTREPRENEURSHIP

Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Different factors which help in motivating to become an entrepreneur.................................3
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Entrepreneurship is defined as a process of launching, designing, initiating as well as running a
new business with an aim to gain success and earn higher profits as well. An entrepreneur is one
who develop the idea and convert it into an action in a unique and effective manner (Brush,
2019). Entrepreneur is mainly an innovator that provide new ideas to business about their
offerings that assist in improving business efficiency and performance as well. It is determined
that entrepreneurs make their own way in order to attain and have the ability to take higher risks
as well. For the present report, the entrepreneur that is chosen is Jeff Bezos. He is an American
aerospace entrepreneur, investor and the proprietor as well. The present report is going to cover
the factors that motivate or encourage them to be an entrepreneur. In addition to this, it also
evaluate factors by academic perspective of entrepreneurial innovation from sociological,
psychological & economic disciplines.
MAIN BODY
Different factors which help in motivating to become an entrepreneur
In order to become a successful entrepreneur is difficult as it require high knowledge,
investment and willingness to bear risk. It is determined that entrepreneurship is not about
gaining profits but also bring innovation in product and services which is accepted in market and
gain success effectively. The report is based on identifying factors that motivate Jeff Bezos to be
an entrepreneur. He was born on January 12, 1964 and is the president or founder of
Amazo.com. Jeff Bezos is renowned as richest man in the world and its net worth raise by $160
billion in the year 2018. His mother is of 17 years when Jeff Bezos was born & his father was an
owner of bile shop. The factors that motivate or encourage him to be a successful entrepreneur is
given below:
 Passionate: In order to be an entrepreneur, it is essential to be passionate towards goals
and believe on our self to develop something productive. An entrepreneur must have the
willingness to take risk and have the ability to deal with the situations that negatively
effect on their goal of being an entrepreneur (Furgang, 2018). It is a significant
characteristic that is require along with the name, fame as well as money. If it is talking
about Jeff Bezos, his feelings and passion to become an entrepreneur &also willingness
to be rich person make Jeff Bezos successful entrepreneur. Passion for something drives

or motivate people to become effective entrepreneur. In addition to this, an effective or
motivated team is also require that help entrepreneur to identify their own potential and
gain success at market place.
 Financial Background: One of the most essential element that is require in order to
implement activities and convert ideas into action is finance. It is determined that Jeff
Bezos was belongs from middle class family which was not even able to fulfil all the
requirements. In this urge and to saw all this, Jeff Bezos always want to be richest person
in all over the world. Along with this, Jeff Bezos saw his mother and father did in order
to provide him valuable and good life. He saw the hard work and difficulties faced by his
parents so that he can live a better life. By undertaking all this, Jeff Bezos want to
become world’s richest person and always wanted to give his parents all the facilities
properly.
Being unique &innovative: In today’s world, the choices of people is getting changed as they
want to consume those things that is innovative in market. By analysing this factor, Jeff Bezos
want to bring something innovative in market which is easily accepted by society and attract
more number of people as well (Kyrö, 2018). He make introduce Amazon within the market that
was a unique offering in market and give productive services to customers and societies as well.
His new concept work as a welfare and development in societies as it ensure that services given
to customer must be in a convenient and proper manner. Jeff Bezos new concept of providing
service at doorstep attract more number of people that leads to customer satisfaction and
retention as well. In addition to this, he introduce additional feature in its service that us amazon
prime which gives fast delivery to potential and membership customers.
 Risk taking: Entrepreneurs take major risk and launch their idea within the market which
make them a successful as well as effective entrepreneur. Jeff Bezos has the willingness
to take risk and due to which he gained success and growth in market. Risk taking factor
is require to be present in every person who want to establish their own business as it also
encourage other members to bring something innovative in market. it is determined that
this factor sometimes inherent in entrepreneur and sometimes developed due to its
experiences. In order to be an entrepreneur and start up own business, it requires high
investment and involves high risk as all the amount invested is at risk and failure of idea
is a big loss for the entrepreneur. The business include both forms of risk whether it is a

high and small risk. In relation to Jeff Bezos, rather than having no money he take risk
and set up their own business due to which he gain success and at present he is renowned
as world’s richest person.
 Personal growth: In order to become an effective entrepreneur, it is important to have
knowledge, competencies and skills as it effect on the overall growth as well as
development of a person. It is analysed that growth in business also enhance the skills
and knowledge level of an entrepreneur as they require to put their minds on all the areas
in order to gain success and bring out unique idea in market. with reference to Jeff Bezos,
he face difficulties while establishing or set up its new business & also get failed but he
believe on himself and motivate by them due to which he get success and able to run or
implement activities in a proper manner.
From the above discussion, it has been analysed all these factors plays an important role
in order to become a successful entrepreneur (Kuratko and Morris, 2018). In addition to this, it
also assist in enhancing knowledge and skills level that further help in gaining success at market
place. Entrepreneurship is a factors that assist in managing, maintaining as well as designing the
business which is essential in order to become s a successful entrepreneur. Along with this, it is
important for an entrepreneur to make changes in their offerings and provide something unique
in market and it
The Chief Executive officer of Amazon, Jeff Bezos is working with his grandparents that is
repairing equipment’s and fixing windmills. This experience made him to develop their own idea
and also he give credits to his summer tinkering for penchant of experimentation. At present,
Amazon is one of the largest retail company globally that has gained success due to the
entrepreneurial skills of Jeff Bezos. He sees the world as a laboratory and he always asking
question to his grandparents and parents that how he can search for new idea or solution. Jeff
Bezos is an entrepreneur that is master in approaching life and also work with hypothesis testing.
Unique experience: Jeff Bezos is an innovative driven leader and drives new experience in
order to engage and spent time in interactive learning. He believe that he is a disruptive thinker
which will assist in future growth and development. In contrary, his diverse experiences helps
Jeff Bezos to gain an opportunity and bring innovation at marketplace. It is essential for an
Entrepreneur to approach innovative activities with a different and unique perspective as it assist
them to gain success a market place. Jeff Bezos perceive that acting as well as photography skill

assist a person to become an entrepreneur and good leader as well. When an individual starts
working with different area of people, it assist them to solve complex issues and develop creative
thinking. This assist an entrepreneur to gain higher opportunities and to be the renowned
entrepreneur globally.
Deconstruct processes, products & ideas – At the time of his reading, Jeff Bezos read an
article that states internet is growing on an average 2,300 % in a year which gave idea to Jeff
Bezos to launch a business within these sector. He started focusing on deconstructing or
changing traditional process of business effectively. This trigger innovative idea that make
improvement in life of people in a proper manner.
Focus on process, not failure: It is important for an entrepreneur to cover idea into a reality with
a unique and effective manner. It is a mechanism which directly leads as well as translate into
new market. In addition to this, it is essential for an entrepreneur to first analyse the market,
customer requirements, market conditions so that new idea make improvements in their life and
get success at market place (Kraus, 2019). Jeff Bezos had taken risk foe building warehouse out
of the country and at that time Amazon was a profitable company. He adopted experimenting
approach in order to bring innovation which help him to be a good leader that motivates other
people also. It is essential for entrepreneurs to think innovative and test something new which
will ensure higher growth and success. In addition to this, Jeff Bezos believes that an
Entrepreneur must have the ability to identify or analyse opportunities so that they can gain
success. He work on internet for long in order to gain knowledge and effectively implement his
idea of doing business in market.
Ambition: It is determined that most of the entrepreneur keep on hard working instead of
getting failed. They are not easily give up because of their ambitious nature. Entrepreneurs want
to succeed and take this challenges as an opportunity or a stepping stone which help them to gain
success or fulfil their goals effectively. A highly ambitious person drive to hard work and
committed towards achieving their objectives in a proper manner. In addition to this,
entrepreneurs is not looking for shortcuts, they give time to understand the things in order to get
the job done right.
Willingness to learn: There are many individuals who think that they stop learning as they
are certified and graduated from professional degree. Education is a long process in life and for
an entrepreneur and good leader, it is essential to keep on learning about new concepts,

technology, market trends, customer requirements as it help them to bring innovation in market
and become a successful and effective entrepreneur (Julien, 2018).
CONCLUSION
From the above study, it has been analysed that entrepreneur is a person who transform a
new idea into goods as well as services that is going to offer in market whereas entrepreneurship
is a procedure of designing, processing all the activities and functions in a unique or different so
that it can attract more number of people and gain success within short span of time in market. In
addition to this, it is determined that to an entrepreneur must have willingness to take risk in
order to become a successful in market. There are various skills required in an entrepreneur that
is time management, problem solving skill, communication skill, conflict handing and so on. The
factors that motivate an individual to become an entrepreneur are passion, creativity, family,
experience perception, knowledge and many more. Furthermore, all these factors also interrelates
on the basis of economic, psychological and sociological disciplines from the perspective of
present academic skills & knowledge.

REFERENCES
Books & Journal
Brush, C., and et. al., 2019. A gendered look at entrepreneurship ecosystems. Small Business
Economics, 53(2), pp.393-408.
Furgang, A., 2018. Jeff Bezos: Tech Entrepreneur and Businessman. Enslow Publishing, LLC.
Julien, P. A. ed., 2018. The state of the art in small business and entrepreneurship. Routledge.
Kraus, S., and et. al.., 2019. Digital entrepreneurship. International Journal of Entrepreneurial
Behavior & Research.
Kuratko, D. F. and Morris, M. H., 2018. Examining the future trajectory of
entrepreneurship. Journal of Small Business Management, 56(1), pp.11-23.
Kyrö, P., 2018. The conceptual contribution of education to research on entrepreneurship
education. In A Research Agenda for Entrepreneurship Education. Edward Elgar
Publishing.
Lipset, S. M., 2018. Values, education, and entrepreneurship. In Promise of development (pp. 39-
75). Routledge.
Mitra, J., 2019. Entrepreneurship, innovation and regional development: an introduction.
Routledge.
Savoulian, R., 2019. The cult of the billionaire entrepreneur. Green Left Weekly, (1230), p.11.
Zhang, T. and Acs, Z., 2019. Different age effects by entrepreneur types: an investigation on US
boomer entrepreneurs. In Handbook of Research on Entrepreneurship and Aging.
Edward Elgar Publishing.
Online
Jeff Besos entrepreneurial skills, 2019.[Online]. Available through:<
https://www.asianentrepreneur.org/10-lessons-entrepreneurship-jeff-bezos/2/>
(icssed).