Have you started working on your business but have failed?
Maybe you are about to start but you are not sure how, when, and where…
It is normal that people have doubts, they doubt themselves, but quite often other circumstances.
But something is telling me that you are not the one that blames others for your (possible and only temporary) failure.
You want to achieve something extraordinary and you want to become an entrepreneur.
But it is not the case, yet – it seems that you are still a wantrepreneur.
What Is a Wantrepreneur, anyways?
And how do you know you are not just another of many Wantrepreneurs that remain “wannapreneurs”?
Is it possible to convert from Wantrepreneurship to Entrepreneurship?
Let’s answer these questions.
First of all, what are the signs of a “wannapreneur”?
(To be grammatically correct, let’s use the term Wantrepreneur).
This article relates to online Wantrepreneurs/Entrepreneurs, but the principles are the same in the offline business.
5 Signs of Wantrepreneur
Let’s go over these 5 aspects that define the wantrepreneur.
1) 9-5 Job
Do you have a quite OK job, but you wanna also have your own business?
What makes you think so?
There could be many reasons why you want to become an entrepreneur.
But in case, you
- Don’t hate your job
- Have an OK boss
- Enjoy the 9-5, and especially the off-time and free weekends
- Have an OK salary (you can even save 20% on the side)
…the chances that you will become a successful entrepreneur are slim.
– there is no room for motivation.
Unless you have some drive or a specific goal that you have had in your mind, and you are determined to achieve it.
Then your 9-5 is most likely only a transition period to save some money for your future entrepreneur activities.
And quite honestly, this person most likely doesn’t read the article about wantrepreneurs, right?
Let’s go back to the regular job example and I want to share with you two short stories about my two friends.
I had a very good friend, who mentioned to me once that she also wanted to start her own business, but guess what?
She has had a very good job (in Germany working in the aviation industry).
- 6 weeks of paid vacation
- 35 hours work week
- Health insurance
- Stong Unions (so the chance that she will be fired is low)
- An OK Salary
These are conditions for living a quiet peaceful life. For many people an ideal life.
So it would be difficult for a person from such an environment to become an entrepreneur.
She is really passionate about something.
In that case, she might easily spend the free time building up the business (the website, promotions, email list) and see how it will go.
After some time, she might quit the 9-5 and fully be dedicated to her passion.
That would be a nice story.
But as far as I am concerned this person still works the 9-5 and she is OK with that.
(OK technically is not even 9-5, since it is a 35-hours-a-week contract, but you get my point).
So ask yourself a question – do you really want to become an entrepreneur?
I mean it is perfectly fine to have a regular job. For many people, this is the goal.
Some people are not quite happy in their jobs, but at the same time, they don’t want to jeopardize their current lifestyle.
Let’s take the Boss section out of that list above and let’s put there a boss that is not even competent but enjoys bothering and annoying people.
I have another friend, and this guy simply quit, just because of the commanding boss.
He was in the procurement department.
So he took all the contact of suppliers and customers and made his own firm.
Now is that legal?
Well, I don’t know – I don’t know what was in his contract, but it happened 4 years ago and he is now quite a happy successful entrepreneur.
So this guy was somehow forced to leave the job – and it looks like it was the best decision of his life.
2) Afraid to be out there?
The Internet offers anonymity and that’s why many people tend to become online entrepreneurs because of some kind of invisibility.
And it might be true.
But still, you need your audience, you need to be known by certain people that would follow you or buy from.. or just consume your content.
You can’t hide from the world (even the online one) at all costs.
Quite often it means that you need to reach out to other people (that are longer in your industry) to let them know about your service.
The easiest way is to email them.
Maybe even 10% of them will answer your email, but out of 100, it is 10. It can be life-changing.
But are you willing to write 100 personalized emails to people, that are actually not spammy?
Ideas don’t pay the bills.
I personally used to have many ideas, for example:
- salty stick with chocolate
- pair of socks, each sock with a different color/style
Now am I a guy who put these ideas into reality?
Not at all.
The point is that we all have many ideas, and a couple of great ideas each day, but if that doesn’t convert into reality, nothing happens.
What might happen is that another person hears about your idea and he or she put it into action.
That’s the entrepreneurial spirit.
Was it stolen from you?
The point is to learn from such experience and next time you might know how to put the idea into action.
It is their fault and not yours.
One of the main differences between Wantrepreneur and Entrepreneur is that the entrepreneur takes action and is 100% responsible for it.
Maybe conditions are not right?
The conditions will never be “right” and that brings us to the next point;
5) Waiting for the right moment
This is also a hypothetical term.
I mean, what’s the right moment? Someone will knock on your door and tell you that he wants to help you with your startup?
Or you are waiting for the “right idea” – we already touched on that.
No there is not such a thing as the right moment.
Sure there could be a single moment that you decide, OK that’s it, I am gonna do whatever it takes, but that usually comes with a break-through moment that results in:
“I am sick of this”…
Many people have to hit the rock bottom, to get to the point.
But here is the hard truth.
Also, a lot of people don’t make it from the bottom.
Ideally, they find a regular job and go through life as former wantrepreneur.
So, don’t wait for the “right” moment.
Go do the research, learn SEO, learn how to make money with Instagram.. whatever it is, make sure to spend at least some time working on yourself.
OK, that was 5 signs of a wantrepreneur, now let’s move on and let’s check what is the story with a person that is already one level above, so to speak.
Not Seeing Results?
OK, it seems that you have all issues sorted out, you have a running website,
Traffic was OK…
…but suddenly bum!
Suddenly hit by an algorithm?
And what is worse, you do your best updating the content and it seems whatever you do there is no direct effect on the traffic.
Are you back on stage one asking yourself? “Am I really just a Wantrepreneur”?
Well, how about different questions:
- Am I willing to go back to 9-5?
- Or do I keep hustling, despite the fact that I don’t have income and fighting with my loved one over the bills?
Well, that’s a tough one.
This is a moment where you are deciding your future, a for in the road.
But here is the good news;
You can have both – I mean have a part-time job and in the evening work on your website.
Just go to Upwork, sign up, enter your credentials and check what gigs suit you the best.
Ideally, it is related to the experience you have already with your website.
You can also check more information about how to find (freelance) Jobs.
In your “spare” time tweak your existing content, improve and update.
Think, do more research, and check other sources of information.
This is especially in cases when you focus solely on SEO.
What else would you do?
With no budget for the ads, the only “currency “you have is your time.
What Is The Difference Between an Entrepreneur and a Wantrepreneur?
An entrepreneur is a person that starts, owns, and manages a profitable business with help of employees and partners.
Wantrepreneur is a perspective entrepreneur, who is still on a “waiting list”.
The amount of time how long will he stay on that list is based on the wantrepreneur’s actions and performances.
Sometimes, a wantrepreneur is just an unemployed person that wants to start doing some kind of business.
Nothing wrong with that, but believe me, you don’t want to be an unemployed person hiding behind the Wantrepreneur label for more than a few months.
But rest assured all entrepreneurs, were once just wantrepreneur.
Here are some of the key points of both “Preneurships”
- wish to become financially secure or free
- might have a plan but doesn’t take any action to accomplish
- thinks might go well, but quite with the first struggle/fail/obstacle
- feels more pain to not accomplish something
- clear goals – or able to change or adjust the goals
- re-invest the revenue (outsource or ads)
- able to fail well, learn from it, adjust and start again
How Do You Go From Wantrepreneur To Entrepreneur? – In the Online World
Do you see yourself already as an entrepreneur but have not made a single dime yet?
It may be frustrating since your friend and closes one ask you what do you do?
What is your answer?
Are you an employer?
Not anymore, and you are not an entrepreneur yet.
And you are sick and tired of only talking about that.. it is also embarrassing.
So what to do to really become a person that is respected?
No worries and many, many successful entrepreneurs were in your shoes.
First of all, stop “bothering” others about what you are going to do.
Believe in yourself and take practical action.
Above is a screenshot from the book The Law of Success in 16 Lessons by Napoleon Hill, where it says: “Do not tell the world what you can do, Show It”
As I mentioned in the beginning, this article is for those who want to learn how to make consistent income online.
So, your first step should be a website.
But don’t rush it.
There are 5 essential things you need to consider:
- Choose a Niche
- Hosting Company for your website
- Name of Your Website (The Domain Name)
- SEO Optimization
- Content Creation
Please bear in mind the website is essential. It is your headquarters.
That means, that even if you want to start making money from YouTube, you should have a website as well – a 1-page website about what you do just does the job.
What Is the Meaning of the Solopreneur?
Before we wrap up, let’s mention one more term what the Solopreneur means, but I believe you have a clue already.
“Solo” means, done by one person, or it could be alone or unaccompanied.
Basically, it is a freelancer that everything related to the business is managed on his or her own.
This person started as an employee and decided that it would be more beneficial to work as a solopreneur.
He organizes the work, sets his own schedule, and also takes the potential risk of his business.
From time to time solopreneur can outsource the work or a small project that happens only once.
The biggest advantage of Solopreneurship is flexibility and freedom.
On the other side, being your own boss is not always beneficial and not all people want to be their own bosses.
It requires dealing with unexpected situations or being able to make a quick decision, but sometimes it is also difficult to distinguish between working time and leisure.
Don’t get me wrong.
It is perfectly OK to be a wantrepreneur and it is my case as well.
Wantrepreneur is a transition period. Many of us don’t have a back against the wall or are not motivated to achieve audacious goals.
We wish for it and by doing research and taking baby steps something might happen. Something that hit us that says, OK I am done and I am going to make it.
Sometimes it is necessary to hit the rock bottom before you start taking action.
“Do Not “Tell” The World What You Can Do – “Show” It!
From The Law of Success in 16 Lessons by Napoleon Hill
What is your story?
Have you gone through the struggles as well?
If you don’t mind I would love to hear your story as well. Maybe 2 or 3 sentences will do the job.
Appreciate it in advance.
Thank You For Reading