Wantrapreneur – such a cool word, one of my favourites at the moment and lately it seems I have plenty of opportunity to use this wonderful word. Say it out loud tomorrow and see how cool a word it is, try and use it in a sentence too, it’s a great conversation piece.
Wantrapreneurs plan, plan and plan some more. We’ve met a few with their massively detailed business plans, who have read all the books, done the SWAT analysis, completed the workbooks to assess their risk or exposure and are still not ready to Start because <insert N#
reasons excuses here>.
Wantrapreneurs are risk adverse, they procrastinate, have a fear of failure, worry about their idea, worry about capital etc etc. It amuses us when we meet one who asked for an NDA to be signed before they can talk to us about their idea – we never get to that point, if they need an NDA it’s either got something to do with dark matter or they are so risk adverse they won’t get very far in business without seeking advice or feedback. As Shane always says – we tell everyone everything to get their reactions and feedback, if they are on-to-it enough to out execute us on our idea, good on them.
Wantrapreneurs often think starting a business is all about the idea and don’t realise it’s actually about the execution. They like to have their ducks in a row, everything perfectly lined up before they start so sadly some one who has spent years in the planning, perfecting their idea and mitigating all of the potential risks will really struggle with the chaotic, reactive, juggling a startup brings.
Being an Entrepreneur is a mindset and a lifestyle. It’s about taking risks, backing yourself, working harder than you imagined was possible. Being an Entrepreneur is often lonely, exhausting and stressful but you love every minute of it. It’s about living and breathing your idea and vision.
There is a mental hurdle Wantrapreneurs need to overcome to leave their day jobs and step into the great unknown. If you can make it over the hurdle you will be unemployable and never go back, because once you have the entrepreneurial bug you can’t shake it. Enjoy, Vic.