Oct 27, 2012


History of economic analysis of Entrepreneurship from Wikipedia
. . . [E]ntrepreneurs with nonmonetary goals make significantly different decisions regarding input allocations than do entrepreneurs with monetary goals in the early months of firm operation. Owners whose primary goal is nonmonetary use relatively more of their own and family labor and relatively less employee labor compared to owners whose primary goal is monetary. In addition, differences in input usage between monetary-goal and nonmonetary-goal entrepreneurs are reasonable in magnitude, particularly with regard to owner and family hours worked. For example, owners that launched their firms to “build a successful organization” worked on average about two weeks more per year than otherwise comparable owners whose primary goal was to “make more money.”
Source: "Do Entrepreneurial Goals Matter? Resource Allocation in New Owner-Managed Firms" (Dunkelberg et al, Sep 2012). 

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