5 Signs You’re A Wantrepreneur

Posted on  by  Jeetbanerjee

Wantrepreneur aspiring to be an entrepreneur

 

Wantrepreneurs are individuals that desire to be an entrepreneur, but aren’t one yet. Don’t be embarrassed if you are in the wantrepreneur stage because it’s a place where many individuals find themselves stuck at.

A terrible thing would be to a wantrepreneur without even knowing so. You must first figure out the problem before you can find the solution.

Here are 5 signs you’re a wantrepreneur instead of an entrepreneur:

1. You Talk, But Never Act

We all know that one person who tells us that they have the next million dollar idea, but they never do anything about it. Ideas are 1% while execution is 99% of the game. A billion dollar idea is worth nothing if it’s still an idea.

Work hard in silence and let success make the noise. Nobody will take you serious as an entrepreneur until you put your thoughts and ideas into action. If you’re going to talk the talk, you have to walk the walk.

How To Overcome: Stop talking about your ideas with people and start showing them. You’ll never know how great your ideas and thoughts are until you put them into action. 

2. You Make Excuses

I’ve got a bunch of friends that have big entrepreneurial dreams, but they never get started. I ask them why and they shoot out a variety of different excuses. It seems like they put more thought behind their excuses than they do their business ideas.

School, money, time, responsibilities, family, activities, and all other excuses are just obstacles. You can’t expect to find time, you have to make time if you really want to become an entrepreneur.

How To Overcome: Instead of making excuses, take action. You can prolong your business ideas as much as you want, but tomorrow will still have similar barriers. 

 

3. You Keep Asking People To Read Over Your Business Plan

I’m going to say this publicly, business plans don’t mean shit. They’re an overrated document hyped up by colleges so that they have something to teach you about at business school. I’ve never written a formal business plan in the last 4 years.

If you’re putting your ideas into writing hoping for someone to read over it, you’re a wantrepreneur. Your business plan just like your idea doesn’t mean shit until it’s put into action. See the common theme? You have to take action to be an entrepreneur.

How To Overcome: Stop pestering people about your business plan because it’s just a waste of paper. Certain parts of a business plan are good for organizing your thoughts, but they should be for your use only.

 

4. Your Goal List Has Nothing Crossed Off

New Years resolutions are the funniest things. Most people make an amazing list of goals and resolutions only to forget about them by the middle of January. Just because you set goals doesn’t mean you’re an entrepreneur.

If you have a large list of goals that aren’t getting done, you aren’t progressing forward. You must be getting ahead in order to progress in life. Entrepreneurs make goals and crush them!

How To Overcome: Don’t set goals unless you plan to actually get them done. Get friends and family to hold you accountable with consequences if you don’t accomplish your goals.

5. You’ll Do Anything But Sell 

There is another type of wantrepreneur that actually innovates and builds things out, but refuses to get sales. We call this person the wantrepreneur because they’re purely an innovator and not an entrepreneur.

Entrepreneur’s make business decisions to fuel their innovations. Sales is tough, but it’s the foundation of your companies success. You cannot avoid doing sales if you truly want to become an entrepreneur.

How To Overcome: There is nothing wrong with not enjoying sales. If you don’t like it, you can find other smart people to take over the business side of your company and generate the sales that you need. 

Conclusion

This article isn’t about putting people down, but rather about to help them discover that they’re a wantrepreneur. You must know what’s holding you back before you can propel yourself forward. 

 

photo credit: pierofix

 

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Investing in Startups has Increased Significantly Over Recent Years

RockThePost’s 2013 Investor Trends Survey reveals interesting insights into the changing investment landscape and investment
attitudes among private investors today compared to 10 years ago. Upcoming regulatory changes with the JOBS Act will further
shape the investment world, allowing investors to invest in private companies for the first time in 80 years regardless of income
or net worth. The Investor Trends Survey also identifies some key characteristics of experienced angel investors – those who
have experience investing in startups – compared to non-angel or novice angel investors.
This special report contains a selection of the insights from RockThePost’s 2013 Investor Trends Survey, including:
Investor portfolios consist of 15% more alternative investments now than 10 years ago
Experienced angel investors have a lower percentage of mutual funds in their portfolios than novice and non-angel investors
• Investors are relying less on intermediaries to carry out their investments and more on direct investing methods
• The availability of investment tools, such as online trading platforms, and investors’ experience with direct investing are the
main reasons they are encouraged to manage their portfolios.

Persistence – Over 30% of leads are never contacted at all

PERSISTENCE

Persistence

Info-graphic

Over 30% of leads are never contacted at all.
By just making a few more calls attempts, sales reps can experience up to a 70% increase in contact rates.

Where Startup Capital Comes From

where start-up captial comes fromStartup Capital Sources

  • Friends and Family     $60BB
  • Venture Capital           $22BB
  • Angel Investors            $20BB
  • Banks                             $14BB
  • Crowd funding             $5.1BB

 

Where Startup Capital Comes From:

Friends and family, venture capital, Angel investors, banks, crowdfunding.

 

 

Get on the roller-coaster ride of an Entrepreneur – Rider

Entrepreneur – Rider beware!

All Entrepreneurs suffer from wild emotional rides building their dream.

This particular piece happens to be  a very cool video depicting the highs and LOWS of an entrepreneur.

As they say, a picture is worth a thousand words:

Entrepreneur Rollercoaster