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10 Differences Between Entrepreneurs And Wantrepreneurs

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.

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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.

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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.

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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.

Featured photo credit: British High Commission, Ottawa/Entrepreneurs are GREAT! via flickr.com

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Last Updated on November 19, 2018

How to Find a Suitable Professional Mentor

How to Find a Suitable Professional Mentor

I went through a personal experience that acted as a catalyst for an epiphany. When I got fired from a job, I learned something important about myself and where I was headed with my freelance career. I realized that the most important aspect of that one rather small job was the influence of the company owner. I realized that I wasn’t hurt that the company and I weren’t a perfect match; I was devastated by the stark fact that I needed a mentor and I had almost found one but lost her.

Suddenly, I felt like J.D., the main character in “Scrubs,” chasing Dr. Cox and trying to rip insight and wisdom from someone I respect. The realization that a recognized thought-leader and experienced entrepreneur severed ties with me felt crushing. But, I picked myself back up and thought about five ways to acquire a mentor without having the awkwardness of outright asking.

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1. Remember, a professional mentorship must be mutual.

A professional mentor must agree to engage in a mutual relationship because, as the comedy T.V. series showed us, one simply cannot force someone to tutor us. We have to prove that we are worth the time investment through persistence and dedication to the craft.

2. You have to have common interests with your mentor.

Even if a professional mentor appears at your job or school, realize that unless you and this person have common interests, you won’t find the relationship successful. I’ve been in situations where someone I respected had vastly different ideas about what was important in life or what one should spend his or her free time doing. If these things don’t line up, you may find the relationship won’t be as fruitful, even when the mentor knows a great deal about one industry.

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3. Thought-leaders will respect your passion.

One of the ways you can prove yourself worthy to a professional mentor is through your passion and your dedication. No one wants to spend time grooming and teaching another who will not take advice or put the effort in to improve. When following thought-leaders on Twitter and trying to engage with higher-ups in a work setting, realize that your actions most often speak louder than your words.

4. Before worrying if he respects you, ask if you respect him.

On the other side of the coin, you should seriously reflect on those common interests and make sure you respect your professional mentor. Just because someone holds a title, degree or office does not mean that person is trustworthy or honest. Don’t be swayed by appearances and take the time to find a suitable professional mentor.

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5. Failure is often the best way to learn

I honestly have made more mistakes than I can count. I know I’ve learned a great deal from poorly organized businesses and my own poor choices. The most important quality I’ve developed is an ability to swallow my pride and learn from my mistakes. If life knocks me down nine times, I get back up 10 times. One of the songs Megadeth wrote, “Of Mice and Men,” resonates in my mind when I pull myself up by my bootstraps and try again for a goal I’ve set: “So live your life and live it well. There’s not much left of me to tell. I just got back up each time I fell.” Hopefully, this brief post can act as a professional mentor to you in your quest to find not only a brave leader but also a trusted adviser.

Featured photo credit: morguefile via mrg.bz

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