Starting a business venture requires much more than an idea and ambition. It requires action – immediate, yet well-though and strategically planned execution plan. There are many aspiring entrepreneurs around the world, who have “breakthrough” ideas, but lack the confidence, the devotion and determination to act towards pursuing these ideas and starting up. There are many ways to differentiate real entrepreneurs from wanterpreneurs and here we will highlight three of these main differences.
Looking for perfection
Wantrepreneurs may not lack ideas, but they rarely act on these ideas. They always find excuse not to start – the timing isn’t right (Just look at the economy!), there is no time, capital or right expertise, can’t risk to lose the stable paycheck and so on. They always wait for the perfect moment to start a company, but here is the bad news – there will never be a perfect time. Always something will be missing but this is no reason to back off. Actually, the times of uncertainty are the best for emerging opportunities. Real entrepreneurs know that and are not waiting for the things to be perfect – they just take action and make the circumstances work for them along the way.
The wrong goals
Entrepreneurs are driven by passion and believe that their ideas and products are needed to solve a problem or to improve the lives of their customers. They want to bring value to others, while most of the wantrepreneurs want to start businesses just to make money. This is also one of the reasons why they don’t act on their ideas – because they don’t see how these ideas can make them money fast. They can’t spend years of sacrifices and living without a regular paycheck doesn’t sound very appealing to people, who want to be the next overnight success story.
Fear of failure
Starting a business is a risky venture that is built on uncertainty and instability. It is difficult to start a company with the belief that there will be nothing that could go wrong – there is always something that will go wrong. Failure is inevitable part of being an entrepreneur, but no failure is final until you give up. Entrepreneurs know that and are not afraid to fail – they are ready to learn from their mistakes, to accept the challenges and the obstacles that they can’t control and to move forward despite them. Wantrepreneurs on the other hand are afraid to fail. They feel uncomfortable with taking risk and making mistakes.
Don’t let the fear of failure to stop you from pursuing your dreams. Don’t wait for the perfect moment, because the time will never be perfect. Start acting on your bravest ideas, create value for the customers, make a difference and the money will eventually come.
