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.
2. Entrepreneurs keep moving while wantrepreneurs keep complaining
Guy Kawasaki, founder of AllTop once said, “Ideas are easy. Implementation is hard.”
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.
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3. 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.
4. 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.
5. 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.
6. 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.
7. 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.
8. 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.
9. 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.
10. 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 passion for his business. It is something he loves to do, something he believes in. Wantrepreneurs follow the trend, simply because it has proven successful already.