Entrepreneurship

Entrepreneurs VS Wantrepreneurs, what’s the difference and why it matters.

It seems like everyone is calling themselves an entrepreneur these days. I have to admit, I called myself one when I didn’t know the real meaning. The problem with this, is that it sends the wrong message and dilutes the actual meaning of what an entrepreneur does.

Why bother? Because it concerns the very engine of economic growth and the people we are counting on desperately, to boost it up.

I’ve come across many aspiring entrepreneurs who think they have this great idea, but never ever take real action and go on to grow a successful business. I call these people “wantrepreneurs”!

Since leaving my corporate job, I did two startups and two businesses (there is a difference between startups and businesses but we’ll get to that in another article). All four have become failures. I’ve embraced those failures and learned from them.

I did some reflection this year and realised that the reason why I failed those businesses was because, I was actually really just a wantrepreneur.

Yes, I called myself out and it hurt, but it feels good to be real honest with myself for once. Whilst I did take action on my ideas, went out onto the streets, spoke and sold to customers, I had a very different mindset. A wantrepreneur mindset.

From my experiences and after some hardcore reflection, here are my 5 important mindsets that separate entrepreneurs from the wantrepreneurs.

1 — Real entrepreneurs do what they say they’re going to do, wannabes ask about it and have lots and lots of coffee meetings.

I fell for this trap. There were many times last year that instead of just doing what I needed to do, I had lots and lots of coffee meetings that went nowhere and achieved nothing.

2 — Wantrepreneurs play with the image of success now, a real entrepreneur works to live it later on.

I wanted to prove to my family, my friends, my friends on Facebook that I became this successful entrepreneur that left his corporate job. Lying to myself achieved nothing.

3—Real entrepreneurs hustle. Wantrepreneurs are afraid to hustle, to take action, focus, sell, knock on doors, and break things.

I have to admit, I’ve got no problems with selling, knocking on doors, hustling, breaking things or taking action. However, I was surrounded by many people who were afraid to pick up the phone. This wasn’t the best environment for me and I had to leave and focus on improving myself.

4—The business goal of a wantrepreneur is the money, an entrepreneur’s goal is to be the very best.

Foolishly and honestly I was chasing the money. I’ve now made it my mission to be the very best in whatever I do.

5—Last but not least, real entrepreneurs are driven and stay focused by their passion, wantrepreneurs are driven by what they think their passion should be and are all over the place.

I didn’t even know what I was passionate about or what my goal was last year. I just took on projects, started businesses and startups without really knowing if I was truly passionate about it and what my true goal was. After my yearly reflection, I now know what I need to do and what I am truly passionate about.

So why is it important to understand the different mindsets?

Wantrepreneurs go nowhere and find it hard to achieve anything. When we start being truly honest with ourselves, things will start changing, we will start growing and eventually make an impact. I’ve personally restarted everything, including my mindset as I’ve had enough of not getting anywhere. I want to be successful.

Tell us what you think about these mindsets. Does it resonate with you?