Are you a ‘Wantrepreneur’ or an Entrepreneur?

The entrepreneur has become a very hot buzzword these days. Achieving milestones, Chasing dreams, and building something that may be the next-big-thing of tomorrow, are some of the key highlights of entrepreneurs in the process. But while you feel that people are finding this buzzword a step to chasing glory, most of the time it’s misleading. I feel that a bit of caution should be adopted while using the term Entrepreneurship. No doubt, one might feel entrepreneurship is a rising interest to a new professional and commercial height, but there is a critical difference that separates an entrepreneurial aspirant, otherwise known as a wantrepreneur, from an Entrepreneur.

Each day brings a lot of fresh and winning ideas into the minds of aspiring entrepreneurs, but the truth of the matter is, very few manage to put it into action by stepping out to nurture the idea into a successful business. So what’s the reality of they being stalemate at Wantrepreneur?

Are you an entrepreneur who ponders?

The entrepreneurs are driven by their passion, wantrepreneurs are pondered what their passion should be. While most of the entrepreneurs are busy working on important tasks like validating customer problems, highlighting the target market, finding paying customers, Wantrepreneur is busy highlighting fun tasks like “What should be the logo look like?”, “What the office space should look like?” and many uncharacteristic thought processes. Of course, the branding is important, but what about the show if the idea by itself is not viable and you are focusing on all things that don’t really matter at critical points? If you are 100% committed to your business, it is easier to convince others to believe in you and your work as well. It does take a lot of hard work to mature the idea from initial inception, and passion is what makes you move along despite the challenges you face on the go. Withdrawing passion from the entrepreneurship journey, it remains merely an idea.

Entrepreneurs will strive to achieve what they say they are going to do while Wantrepreneurs are busy talking to several people about how ‘great’ the idea is but never get started. How can one term the idea great, when one needs to actually test the waters by identifying the problem and what better you to so solve it. Fear is one of the most critical components that separates entrepreneurs from wantrepreneurs. While Wantrepreneurs are busy boasting about ideas, Entrepreneurs are looking at the problems they can solve, differently. You will learn more by executing the idea rather than by planning for a million years. Many aspiring entrepreneurs fall short of starting up just because they obsess about finding the right idea and failing it. You got to be saying to yourself “Launch the damn thing” and hear from the users. You could build it as a prototype or beta and float it across into the hands of the people, customers. Let the actual customers sample it. You will then have feedback that you can improve upon. If you fear failure, you are never meant to be an entrepreneur because tasting the failure will help you discover the secret ingredient of building a successful venture. Real entrepreneurs embrace and learn from failure, wantrepreneurs are defeated by it. In fact, to quote an example, Angry Birds, the incredibly popular game, was software maker Rovio’s 52nd attempt. It took them 8 years and nearly went bankrupt before finally creating one of the best mobile games.

Growing money as an entrepreneur

If you define being an entrepreneur as just as “Growing money”, the startup is doomed before it actually starts. Even if you manage to get to a point, it won’t be long-lasting. Money is important, but not more than the solution to the problem you are providing. Of course, when we talk about startups, you will need some capital too. It could be to set up your office, buy infra-needs, build a team, pay your startup bills, and much more.

But where there are problems, you can also challenge yourself to find solutions. There are a lot of ways to ways of raising money to build your product. Many choose from resources like savings, friends, family while others are talking to the investors. Some may also go crowdfunded. But most importantly, get the proof of concept as early as possible to get started. There is no trick, but to get started. If you don’t act on your idea today, you might just find someone else taking to the market before you can.

Why invest time in thinking about other people’s success than focusing on your own business? There’s a Goal that entrepreneurs think is achievable. That’s one of the key highlights of the entrepreneur. Entrepreneurship is like a long university education that you never experienced but yet it calls you to learn, learn harder. It makes you challenge yourself every time in this journey. A real entrepreneur is forever a student while wantrepreneurs are happy with just a few lessons. As the trend suggests, not all businesses take off, but it all nails down to Persistence, Dedication, and Commitment before you call it to quit.

When looking at the most successful people and organizations, we often interpret their journey to be straight and smooth to the promised land. But what people miss spotting in this journey are the crushing defeats, setbacks, countless learnings, which define the route’s genre. There’s an old saying, next time you sense the sting of failure, think of it as a step closer to hitting your target. Who knows, these stings could actually help you be that next “overnight” success story. Keep Thinking-Building-Thinking. Your inner belief will drive you towards your goal.