ARE YOU AN “ENTREPRENEURS OR A WANTREPRENEUR?” By Miriam Mukasa

“I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance.” Steve Jobs


Photo Credit: http://www.lifehack.org/articles/work/10-differences-between-entrepreneurs-and-wantrepreneurs.html
742 0
742 0

“I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance.” Steve Jobs

So I recently read this article by , which I found really interesting as this question is so  relevant today. Are you and Entrepreneur or a Wantrepreneur?

I was speaking recently to a youth – let us call him Charles. Charles and I were discussing his future career plans (he was looking at changing jobs), and it was then that he informed me that he was thinking about leaving the corporate world to become an entrepreneur because he was fed up of working 40 hours per week. I shook my head.

“Charles”, I said, “you do realise that you would be leaving a 40 hr working week for one where you would be working more than 70 hours per week with some entrepreneurs working up to 100 hours per week?” You do realise (I continued), that as an entrepreneur, weekends and holidays will be a thing of the past? You do realise that starting work at 9am is no longer feasible? You do realise that money will be very tight? You do realise that for the first few years, you may not even have a salary? So why would you leave a monthly salary and only 40 hours working week, for a role where you would be working in excess of 70 hours per week with little or no income? Charles, I said, entrepreneurs are a different breed of people. They are dreamers, they are passionate, they are risk takers, they are crazy. They think they can make the world a better place. Entrepreneurs are outliers. They eat, sleep, dream their passion. They are not lightweights who treat entrepreneurship like a hobby. Many people claim to be entrepreneurs but they are not; they are simply “Wantrepreneurs”

Charles did not have a response. I then shared this brilliant article with him.

10 Differences Between Entrepreneurs And Wantrepreneurs

Nowadays people do not aspire to work for a big company and climb the corporate ladder. They would rather reach for success by having their own business. But there’s a huge difference between entrepreneurs and wantrepreneurs, i.e. those who want to be entrepreneurs but don’t quite pull it off:

  1. Entrepreneurs believe in themselves while wantrepreneurs think it’s all about them. Wantrepreneurs think the business revolves around them. Entrepreneurs believe in themselves, in their team. They know they can’t do it alone, that their team is essential for the growth and success of the business.
  1. Entrepreneurs keep moving while Wantrepreneurs keep complaining. Entrepreneurs make things happen, no matter how small a step forward it is. Wantrepreneurs are always looking for excuses and complain when it gets hard to get going.
  1. Entrepreneurs don’t let failures stop them while Wantrepreneurs easily get discouraged. Entrepreneurs take it from Steve Jobs who once said, “I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance.”

Entrepreneurs carry on, learn from their mistakes and work it off. Thomas Edison kept working on discovering the light bulb after failing 1,000 times. Wantrepreneurs get discouraged and stop altogether.

  1. Entrepreneurs aim to be the best while Wantrepreneurs aim to be rich. “Chase the vision, not the money; the money will end up following you.”  Tony Hsieh, CEO of Zappos

Entrepreneurs work to be the best in their industry, to leave their mark on the world. They believe in the adage passion before profits. Money to them is just a side benefit, a prize for doing a good job. Wantrepreneurs work only for the money.

  1. Entrepreneurs work hard for the business while Wantrepreneurs work hard for their image. According to Thomas Edison, “Genius is 1% inspiration, and 99% perspiration.”

Entrepreneurs work hard to make their business a success. They’re too busy with working to worry about what other people think about them. Wantrepreneurs don’t have the patience to work on the business. They look for shortcuts and prefer to spend their time making people think they are already a success.

  1. Entrepreneurs work to get what they need while Wantrepreneurs wait for it to be given “Any time is a good time to start a company” – Ron Conway, Startup Investor, SV Angel

True entrepreneurs do not wait for funding or additional resources to start and keep on going. They find ways to raise capital and work to get additional funds. Wantrepreneurs don’t do anything until they get the capital they think they need to get the business off the ground.

  1. Entrepreneurs adapt to changes quickly while Wantrepreneurs call for meetings.  When there are changes in the business environment, entrepreneurs are able to act quickly to adapt, and often times finding opportunities in the change, whether it is a better way of doing something or tapping a previously unknown market. Wantrepreneurs are often shaken by change and are too busy discussing every little aspect of a change during meetings to adjust on the changes. Therefore they are often left behind.
  1. Entrepreneurs innovate while Wantrepreneurs procrastinate. “You just have to pay attention to what people need and what has not been done.” – Russell Simmons, Def Jam founder

Entrepreneurs don’t wait for the perfect idea to come to their mind. They know it doesn’t have to be original or unique to make it successful. Often the best idea is seeing the gap or the need to improve on what already exists. And a lot of successful businesses started with the entrepreneur needing something he/she couldn’t find anywhere. Wantrepreneurs, on the other hand, obsess about finding the right idea or the next big trend that will get them rich quickly.

  1. Entrepreneurs are risk-takers while Wantrepreneurs are risk-averse

Ray Kroc, founder of McDonald’s famously said, “If you’re not a risk taker, you should get the hell out of business.” The business world is tough and only a handful survive the cutthroat arena. Entrepreneurs are not afraid to risk their funds, image, or business because they believe in their business, their product. They know the risks involved and yet they put out. Wantrepreneurs would rather bet on a sure thing.

  1. Entrepreneurs are driven by their passion while Wantrepreneurs are driven by someone else’s passion

“Choose a job that you like, and you will never have to work a day in your life.” – Confucius

An entrepreneur is driven by his/her passion for his/her business. It is something s/he loves to do, something s/he believes in. Wantrepreneurs follow the trend, simply because it has proven successful already. To read more posts by Miriam, click HERE

Click link to original article – http://www.lifehack.org/articles/work/10-differences-between-entrepreneurs-and-wantrepreneurs.html 

Photo Credit: http://www.lifehack.org

In this article

Join the Conversation

1 + 19 =