Entrepreneurship · Leadership Training

Is it necessary to be "hungry for money" to be successful?

Alex May Freet(h)inker

March 17th, 2018

Coaches on trainings like to boast that true businessman need to have attitude "see profit and take it".

How much of it is true?

And what you need to change in yourself to comply?

Ashwin Kumaar Founder and CEO @Winfantrace®

March 19th, 2018

Be hungry to make a change. Be hungry to innovate and create a resonance in the market. Money will follow. But when you start running for money and look at profit you will stop the innovation process and that in return can kill you source of making profits. You will start rusting if you don't Innovate. Businessmen make money work for money, innovated and now leveraging on that. Till then keep innovating and stay hungry to innovate.

David M

March 18th, 2018

Much of the sales "coaches" and motivational speakers out there focus on what they know will sell books and that is the get rich approach. Ideally one seeks financial profit that results from social profit. In other words. I can go start a McDonalds, and I stand to make a lot of money. But I am going to have to look back and wonder how many lives I damaged by selling processed fatty salty food while the diabetes epidemic spins out of control. Or I can figure out a way to still make profit but do so selling healthy food....which is likely a much harder road but will have a social reward of not having to wonder if you contributed to someone getting sick or dyeing. We have far too many people focussing only financial profit while ignoring the negative repercussions of their business.


So I feel like your question could be stated better. It is necessary to be hungry for a well run financially profitable business yes. But that is different than being hungy for money. And one can be hungry to positively impact society while not ignoring the need to be financially profitable and the same on the flip.

Bettina Brink Entrepeneur with a solid business idea and in need for partners

March 22nd, 2018

I would like to add, that one alternative would be to call it passion instead of hunger. And with passion you can help changing things for the good & helping the customer and money might follow.

martin webb Founder Tudodesk (Looking for a marketer, sales, content builder)

March 22nd, 2018

If you are hungry for money --- GET A JOB!


You can work long hours, focus on the job task, get paid for each hour you do it. With less to worry about you will be able to use that energy to work multiple jobs multiple hours and reap the rewards fast - instantly. If you suck at the job you can simply walk into another (that is easy to say). If you are smart you will find the path on the ladder of that job to increase your hourly rate, or attract a bonus and with that in mind sky rocket your earning capacity. But once you do your stress will increase and concern that you don't control the rocket ship that is paying you all this money.


If you are hungry to have self made success, solve a problem in the world and every day have a sense of ownership, freedom and power start a business. But don't start a business to get rich.


If you are good at running your business, are not greedy, don't treat the business like a job, or it's profits like your earnings in time you can grow that job, scale it with people to work for you, or computing power ;-) and make an exponential income. But that will take time, a lot of tears, a lot of sacrifice and a lot of self questioning. While your friends and family are moving up the Job ladder and getting paid.


Regardless, if you are made of the right stuff you will know which one will bring you a good pay day for a lot of satisfaction and self pride. Either route will bring you money.


Choose wisely. Time is your most valuable asset.


Lalith Muthali CTO @ Sipher

March 23rd, 2018

If you're hungry for money, become an investment banker or a drug kingpin.

Jeremy Scharlack Designer, Developer, 3D Artist, Creator of mockup3d.com

March 19th, 2018

I sure hope not. I mean I intend to make money with my business, but I'm really focused on helping out my customers. I started because I saw a problem I could solve.


Does that make me a softie more concerned with helping people out then making a bunch of cash? If it does then I'm fine with it.

Thomas Sutrina Inventor at Retired Pursue Personal interrests and family

March 19th, 2018

Hungry for money increases the likelihood of failure. Hungry to solve a problem and expecting reasonable compensation will lead to success. The failures I have seen even in fortune 500 companies is due to putting out a product that actually doesn't do a good job of solving a problem for the price being charged. money was not the problem. Problems in development or achieving the targets resulted in compromising the understand of the customers wants. It is easy to think the customer will accept less because you can not provide more. Some small amount of margin may have been in your customer model but from my experience it is cut close to the bone in order to even get the approval to start.

Kris Harikrishnan Product Manager

March 20th, 2018

You already have great feedback from others. I'll echo their thoughts by saying be hungry to solve customer problem and add significant value. Money will follow.

atemkong roundsome aborinji Cofounder & CEO@atemkong.com

March 23rd, 2018

No


Normal everyone crave for an outcome no matter what he does and the road to that path is through gaining access be it money,land, anything that brings wealth


So to get there you need to have a plan, budget for that, seek ides on how to make it

Look for company, or firm to promote your idea or product


All what I saying is if you hunger for money you won't have the successful financial freedom you ever dream .....so setting a high goal, let say you want tto make a plan in other to earn 10million you to make a solid plan and draw resources from


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Steven Fried Founder, CEO, and General Counsel

March 19th, 2018

In my experience, being figuratively hungry - i.e. just trying to make ends meet - leads to a lot more real innovation and success. Just being hungry for money by itself often leads to anywhere from 18 months to 20 years in a federal penitentiary.