When does a Wantrepreneur become an Entrepreneur?

[MJ DeMarco]

WANTREPRENEUR
-----------------------
How do I get a black card?
What's a quick and easy way to make $4,000 a month? Step by step please, like plug-n-play.
How do I launch a website? I have an idea that will kill Facebook.
I have an idea, does anyone want to partner with me? Someone who can do enterprise level coding, marketing, and provide capital. I'll give you 30%!
How do I start a lead-gen website? I'd like to make a lead gen website, that's what MJ did.
Where's a good place to get business cards?
Check out my startup! (I spent 21 minutes installing Wordpress and a template.)
Typically anyone who throws the word "startup" around like a Frisbee on the beach.
Typically anyone who throws the phrase "passive income" around like a Frisbee on the beach.

ENTREPRENEUR
------------------------
How do I acquire a license from the NCAA for my new product?
How do I reach this odd market, CPM or CPC? Facebook? Instagram? Reddit?
How do I import a 300lb container from China, I have 4 estimates but each have their own drawbacks.
I just found out my product is being used by an LPGA tour pro! (@Catalyst )
I was just at the gym and saw someone reading my book while on the stairmaster!
Just looked at my Home Depot numbers; saw we sold 15,000 last month. (@Likwid24 )

 

[healthstatus]

When they solve a problem, with their idea, for money.

 

[RHL]

When you stop making declarations that get you nowhere and start taking actions that get you paid.

My $0.02.

 

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[Digamma]

What? What kind of question is it? Is there some kind of certified agency that issues you a certificate when you become an entrepreneur?

Entrepreneur means, literally, to assume the risk for a business venture. Are you assuming said risks? Congratulation. Get back to work.

 

[Vigilante]

Simple litmus test.

Entrepreneurs know the answer to your question.

Wantrepreneurs don't.

Within your understanding of the question lies the answer.

 

[Trivium iz rC]

 

[Andy Black]

If you're still talking about doing the same thing you talked about doing last month, then you're a wantrapreneur.

 

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[RHL]

What do you mean by declarations that get you no where?

"I have this idea..."

"Starting today..."

"My goal is..."

"Starting tomorrow..."

You're doing it right when people hear about the goals you set because you met and/or exceeded them.

Lots of time reading, lots of time worrying about ideas, lots of time wondering about "what-ifs." That's the wantreprenuer life.

 

[socaldude]

Real Entrepreneurs tend to ask questions and have answers that show how much due diligence, research, critical thinking and understanding they have of a particular market or business. It makes you go "Holy crap this guy is the real deal, he knows his numbers and his propositions make sense." They ask questions that are very difficult and give answers that are profound. You don't have to be a millionaire now, but it shows of somebody who is really "out there" and is gonna "make it".

For example:
"Hey guys, I just developed a new technology that allows XYZ businesses to decrease their costs, increase their revenue, reduce their overhead, reduce lag time and become more effective and efficient. Should I license it or sell it?"

Wantrepreneurs on the other hand tend to be lazy, lack any insight or chase money. They think that owning a Rolex and a BMW 3 series is "success" or helps you on the way to success. They tend to be focused on material things rather than focusing on the boring and difficult dynamics and concepts that are involved in building a business.

For example:
"Hey guys, what is a good way to make $1,000 a week online without really doing anything?"

 

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[Digamma]

Yeah that is fair.

The reason I ask is because I browse these forums I see the term 'wantrepreneur' used for various reasons, normally in a derogatory way. Naturally, that caused me to wonder at what point someone is no longer considered a wantrepreneur.

I actually answered you question above. Entrepreneur is not some wishy washy new age word. An entrepreneur is someone who assumes the risk of a business venture. Literally.
http://www.merriam-webster.com/dictionary/entrepreneur

Wantrapreneur is a derogatory term, as you say, to indicate people who "want" to be entrepreneurs, but don't anything else than talking about it.
For this word let's ask the best dictionary around:
http://www.urbandictionary.com/define.php?term=wantrapreneur
"Someone who talks a big game about being or becoming an entrepreneur but is pretty much full of shit and will never actually do anything."
Beautifully put.

 

[RogueInnovation]

Wantreprenuer - smells of desperation, avoidance, financial irresponsibility, lacks context, wants it all as if by magic.

Entreprenuer - is able to identify and validate opportunities, effectively manage risk, and complete the tasks and set ups of launching a profitable business.

Business leader - Professional, responsible, well timed, observant, can create at scale (without hand holding), and knows how to balance work, benifitting others and lifestyle.



Wantreprenuers want to be business leaders to avoid pain.
Business leaders want to be leaders because it means being bigger than fear and anxiety, and it means to become knowledgeable and helpful.

 

[QDF]

Wantrepreneurs just talk, or only do steps 1-3 and quit.

Entrepreneurs finish things. They follow through. They just do it.

 

[MJ DeMarco]

Entrepreneur? Or Wantrepreneur?

Gee I wonder if this guy ever did anything. Whatdya think?

https://www.thefastlaneforum.com/community/threads/seeking-advice.37556/#post-197858

After I invent the cure to cancer, what price should I charge?

 

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[PureA]

The day you decide there is no plan B

 

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[Adam Secada]

What's with the hostility?

I'll try and be a bit more diplomatic, since I've found that joining forums like this can be a bit of baptism by fire if you ask certain things.

I'm fairly certain that even if you could reach a consensus here as to what the definition of an Entrepreneur and Wantrapreneur is, I think the first thing people here will ask is "so what"? Putting out artificial targets for you to cross to make you feel good, or that you've "made it" really isn't what this website is about.

 

[GuestUser113]

When they solve a problem, with their idea, for money.

 

[Mike351]

Its real simple, its been explained by everyone including the creator of this site.

Entrepreneur = Action take

Wantrapreneur = Action fake

If you are unsure if you are an entrepreneur, then maybe you are a wantrapreneur. Are you afraid of risks? Do you make excuses or lies? Do you chase money ruining client relations? Do you stare at that Maserati clenching your fist only to sit on the couch and play Battlefield Hardline for 8 hours until 3am only to do it all again the next day? Oh you made a phone call? Wow....You made a website out of word press and you now have a company? Hmmm....

You can still be an entrepreneur and be on the verge of jumping off The Golden Gate Bridge due to no sales and being thousands of dollars in debt. As long as you are taking constant committed action towards your dream. Learning new things every day. Taking action. Not faking action. We've all done it. Hell I do it. Put me in the wantrapreneur pile. I know I'm guilty, that is half the battle. Take action.




Memphis Grizzlies

 

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[The Grind]

When you start taking consistent action.

 

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[zerobrainwash]

I don't see people's obsession of naming things. This is that, and that is this, who cares, you'll know instinctively when you are one or the other. I'm still wantrepreneur for the most part and the first day I take real action, risks and get a paying customer, I'll call myself an entrepreneur.

 

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[vinylawesome]

 

[James Thornton]

Although I don't fully agree, Seth Godin's definition is interesting:

"An entrepreneur is someone who builds something bigger than themselves. The discipline of an entrepreneur is to continually hire people better than themselves until they have no job, except for breaking the system. The thing Mark Z needed to do when he got serious about facebook was quit coding."

However, he describes those who prefer to put their hands on the work (like me...and himself) as freelancers.

Which is kinda weird, because you can still make something yourself that is fastlane. I define freelance as work traded for one-time payment. I still make reoccurring income from work I did years ago. Seth has all kinds of books and courses that are clearly fastlane.

Nonetheless, maybe that will help someone on a different path.

 

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[CrazyChris]

Is there a definite limit?

After the first sale?

When you hit some sales dollar amount?

Some less tangible measure?

Opinions?

 

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[CrazyChris]

When they solve a problem, with their idea, for money.

So you would say that you can only be am entrepreneur if you solve a problem? Regardless of how much money is being made?

 

[healthstatus]

You are not an entrepreneur if you are receiving cash from a trust fund or investments you didn't make. Right now I can't come up with another idea of something that makes you money that doesn't solve a problem.

 

[CrazyChris]

These replies are fantastic!
Just the kind of opinions I wanted to hear from everyone.
Thanks very much everyone!

 

[GuestUser113]

Simple litmus test.

Entrepreneurs know the answer to your question.

Wantrepreneurs don't.

Within your understanding of the question lies the answer.

 

[Kevin Peter]

One needs to do what they say. Just ideas dont work. Take action and showcase your capability. Follow your won path by watching and learning others, be smart to listen focus and think realistic.

 

[Deleted20833]

When you take productive action towards profitable sales

 

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[Tobore]

Now, let me try to lay it out clearly...

A wantrepreneur is a consumer who tries to venture into entrepreneurship.

They never produce things, but want the profit. They talk endlessly about IDEAS but never talk about EFFORT.

They are typically broke bros who stay on forums, read posts, books, motivational videos day/nite.
and still use search terms like "How do I make $x..." on google.

Wantrepreneurs hit a hurdle and switch lanes... (from supplement to self-publishing) within one week.

Entrepreneurs? They hit so many hurdles and find a way around it... until ALL available options under the sun
fails, after much trial.

Wantrepreneurs never get to feel that "soothing feeling" after taking a cold shower, from a hard day's work (...uuuh!)

Ppl try to call the secret to success all sorta names like discipline, etc.
The secret? Plain, old, abandoned and boring WORK! It creates discipline and every thing else.

Anything outside WORK is WANT!

Hounds that slightly try to exhume bones never find them
Hounds that dig deep into holes never search for long.

I hope that helps.

 

[CrazyChris]

You are not an entrepreneur if you are receiving cash from a trust fund or investments you didn't make. Right now I can't come up with another idea of something that makes you money that doesn't solve a problem.

It's funny you say that. I was trying to think of things that make money, but don't solve a problem.

But I could always sort of make up a problem from the business solution.

 

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