How can you apply the motivation theories in this chapter to explain the behavior of the entrepreneurs introduced in this case?
For most people, going to work means working for someone else; a select few choose to become entrepreneurs. While TV advertisements depict the good life associated with “being your own boss,” the reality may be very different. Small-business owners often risk their homes and life savings to fund a new enterprise, and while they may be the “boss,” most work hours well beyond those of a typical employee. A recent Gallup survey found that the majority of small-business owners work an average of 52 hours a week, with 39 percent working 60 or more hours a week. Almost half (49 percent) of the polled small-business owners stated that they work at least six days a week with 19 percent reporting a seven-day workweek. For some entrepreneurs, this dedication allows them to achieve tremendous financial success and notoriety. For example, consider Max Leeching and Peter Thiel, who founded PayPal in 1998. Their company quickly grew to become the premier Internet payment processing company, and in 2002, less than four years after its inception, eBay purchased PayPal for $1.2 billion. However, few entrepreneurs achieve such stellar success. Most business owners are everyday people: the restauranteur, the convenience store owner, and the dry cleaner. These businesspeople work long hours often for an hourly rate less than they could make working for someone else. What motivates entrepreneurs to take the risk and work these long hours? Just as there may be no single solution as to how to motivate employees, there may be no unique answer to the question of what motivates entrepreneurs. However, the following three accounts of small-business owners provide a glimpse of what keeps entrepreneurs motivated.