How Do You Bridge The Gap From Wantrepreneur To Entrepreneur?
Having been a Wantrepreneur myself since 2015… I KNOW what to look for.
So, if you’re swanning around sporting that Wantrepreneur badge, I’ve put together this useful guide to help you change that image today.
Dismiss this myth
When I was ousted by the Corporate World, I started to look for a new job. I read numerous posts that Entrepreneurs risk all, go all in, jump in boots and all. I am glad I never believed in that myth.
Entrepreneurs who keep their backup income, their existing business, or their day job, have a higher chance of success than people who quit their jobs at the outset. You’d want those odds in your favor, wouldn’t you?
The reason why is, they have a backstop while they manage the transformation. So they treat their new business venture as a second stream of income.
Quite simply, it’s a more calculated risk.
Prioritize with your eyes on the prize
A Wantrepreneur puts their energy and finances into the things that might make them look like a business person. The website, the logo, all the outer trappings. These are the things they’ll need… EVENTUALLY – but not right at the outset.
True entrepreneurs know it’s important to provide a service or a product which fills a need, one where people will buy.
Your primary concern is to solve a problem for a customer because your goal is to make sales.
So, your initial focus will be to:
- Understand your market and the demand for your product offer
- Know the pain points your prospective customer’s experience, and
- Learn how to ‘speak’ to your customers in their language, to help alleviate their problem
Of course, you’ll need that website – but you won’t need all the fancy bells and whistles from the get-go.
Without a doubt, you’ll also need an excellent marketing budget to attract targeted customers and build an email database – which is the pivotal thing freebie-seeker Wantrepreneurs don’t understand!
Read, take note, and action
Another area Wantrepreneurs get bogged down in is the difference between thinking about doing something and actually doing it.
Yes, visualization can be very effective. Reading books is important; you’ll find wisdom and solid advice in many of them. But, if you don’t do something after you read the last page, or watch the training video, NOTHING changes for you!
If you’re hungry and just read cookbooks, your belly will remain empty.
If you purchase that gym membership but don’t work out, you’ll still be all soft and wobbly.
If you read about becoming a success and don’t put in any effort to build your online business, your bank account will be empty.
People will grow weary of hearing endless talk about your “business”. Results and only results will set tongues wagging.
Don’t be afraid of being afraid
Some of the biggest success stories encompass stories of big failures. Oprah was fired from a job as a TV reporter. The Diary of Anne Frank, Harry Potter, and the Sorcerer’s Stone, Catcher in the Rye, and Gone with the Wind, were all rejected time after time. Mark Cuban was fired from his job as a computer salesperson, and never again answered to a boss.
Wantrepreneurs and entrepreneurs view risk differently.
Wantrepreneurs focus on failure and freeze.
Entrepreneurs view failure as a temporary road block to push through – as a learning experience. Entrepreneurs learn from those road blocks and use them as sign posts on their journey to success.
They face the fear and do it anyway – risk looking a fool with zero concern of how others may (but likely won’t) judge!
Move it then prove it, not the other way around
Wantrepreneurs refuse to step out until everything is exactly the way they think it should be. They want proof of perfection, in funding, timing, plans.
They need 50 million answers before risking a dollar – even if it’s a calculated risk. They’re so deep into the finest details they can’t see the big picture.
Real entrepreneurs hit the ground running. Yes, they do their due diligence but they’re adaptable and clever.
Whatever it takes is what they’re ready to do. They will bootstrap their company, they’re RESOURCEFUL and find ways to get the funds they need.
Like a champion high diver, they’re prepared and ready when they’re poised at the edge of the diving board. Wantrepreneurs go back and forth and freeze, never to make a splash in the world of online business.
Have a strong will, so you will!
In an average business week, you’ll face disappointments, stress, pressure, and doubt.
That kind of week is not for the weak.
Wantrepreneurs might want to be successful but lack the will to fight through the inevitable challenges of business. They always have the exit door in sight.
Entrepreneurs go into business with their eyes, hopes and heart open. Failure may be hanging around the fringe, but that doesn’t stop them.
A true entrepreneur may see a detour sign but never an exit. They succeed because they refuse to accept anything less from themselves.
Entrepreneurs understand that online business is like a roller coaster – they’re strapped in for the ride, a downward disappointment will lead to an upward success, and when they’re in a corkscrew spiral, they know they’ll pull out.
As humans, we generally like to be right all the time, don’t we? It takes a lot to accept personal blame for being wrong.
As a result, Wantrepreneurs presume TOO MUCH. They think they know better. They’re not inclined to test the market to determine what their prospective customers actually believe.
On the other hand, Entrepreneurs know they have to do their research, to test and tweak everything they can in their marketing, and never presume they’re right.
Get Rid Of The Wantrepreneur
Do you see yourself in any of the Wantrepreneur traits? You don’t have to stay there.
Focus on the first four letters of that word. Want. How much do you want success? How big is your driving motivation?
If it is BIG, then you’re ready to get rid of the Wantrepreneur and become an Entrepreneur. Take that good idea and take it to market, or embrace affiliate marketing and leverage other people’s products for profit.
Dedicate yourself to break down barriers and build your business. Turn those failures into fertilizer, till that soil, plant hope, and smart work, nurture your prospective customers, and reap the harvest.