There’s a clear distinction between entrepreneurs and wantrepreneurs. The former makes things happen, while the latter is stuck in the dreamboat. More than this glaring, undeniable fact, however, there are a lot more subtle differences between real entrepreneurs and mere aspirants. In attitudes, habits, motivations, and so many more. So, if you want to stop being just a dreamer, you’d have to start thinking, feeling, and acting like a real businessperson. Here are some of the things entrepreneurs do differently from wantrepreneurs:
Entrepreneurs know how to focus. Wantrepreneurs toy with too many ideas.
The reason entrepreneurs can take the plunge is they’ve trained themselves to focus on projects one at a time. Wantrepreneurs often struggle with analysis paralysis because they have too many ideas floating in their head. It’s good to expose yourself to a lot of opportunities, but you also have to learn how to filter. The secret to effective filtering is thorough research. The more that you know about a business opportunity, the better you can decide if it’s worth pursuing or not. For instance, if you’re entertaining the idea of opening a women’s fashion franchise, part of your homework should be learning about the brand’s financial history, at least in the last five years, its competitive advantage in the market, its potential return on investment. These things should inform you whether to go for it or skip to the next opportunity on your list.
Entrepreneurs want to solve the problem. Wantrepreneurs want to earn money.
There’s nothing wrong with starting a business to earn money. Of course, you want to get something profitable out of an endeavor that would take so much of your time, energy, and resources. What’s problematic is if earning money is your primary and sole reason for doing business. Why? Because it won’t be enough to get you through the bad times. It’s not a compelling reason to persist when you’re feeling alone already or experiencing burnout. Thus, you should have a far more solid motivation for doing this immense task. For entrepreneurs, that’s solving a problem. They want to bridge a gap they see in the industry. They’re passionate about offering solutions, that’s why when the bad times come, failures even, they have the will to continue doing what they do. Check your motives then when starting a business. Are you in it just for the money? Or do you want to help address people’s pain points?
Entrepreneurs take risks. Wantrepreneurs wait for the ‘perfect’ time.
Most people tend to postpone starting a business to a time when there are fewer risks like when they’ve already paid their mortgage, or they’ve sent the kids to college already. But here’s the thing, there will be no time in your life when there are fewer risks. When you reach that ‘ideal’ time, something will crop up again, say, an economic downturn or an illness in the family. That said, you just have to take the risk. Now. This is what entrepreneurs do. Against all the odds, they take the plunge. Train yourself in getting out of your comfort zone. Find a mentor who you can learn from.
From Wantrepreneurs to Entrepreneurs
Don’t be stuck in the wantrepreneur’s dreamboat. Make things happen. Change your perspective, attitude, and motivation, and see yourself transform from wantrepreneur to entrepreneur.