Solved: How can you apply the motivation theories in this

chapter

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.

ANSWER
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