A wantrepreneur or wannabe entrepreneur is someone who talks big about business but when it comes down to it, doesn’t see it through. They’ll usually come up with all sorts of excuses for why they haven’t started their business or launched their new ideas.
Here are some of the most common habits of wantrepreneurs. If you recognise any, it doesn’t mean that business isn’t right for you, it just means that there are some things to be aware of in the future.
Talking big with little action
You’ve seen the type on the likes of Dragons Den or the Apprentice, people who talk a lot about their business skills but don’t seem to be able to demonstrate them.
These are often the types of people who like the sound of owning a business but wouldn’t necessarily enjoy the reality of running one every day. This is why it’s important to ask yourself why you’re starting a business before doing it.
Not being passionate about their business
For whatever reason a wantrepreneur has found themselves in a line of work that they’re not passionate about. It could be that they’ve simply picked the wrong type of business to set up. If you’re not sure about whether this business is right for you, then ask yourself if you’d still be doing this if you already had all the money you wanted.
While some entrepreneurs will have to be dragged away from their laptop, wantrepreneurs are the opposite. They find the time to procrastinate. This could include fiddling with emails, spending all day on social media or doing questionable market research.
Procrastination is often due to fear, not that you’re bad at business. It’s important to try to pinpoint the reason for it so that you can start to work on moving past it.
Waiting for the right time
There’s always an element of risk attached to creating a business and getting ahead in the industry. This almost always means that there’s never going to be a right or perfect time to launch. There’s always going to be something else to do that could potentially get in the way of your business, but only if you let it. If you’re serious about becoming an entrepreneur, you’re going to have to make the leap.
Wanting all the power but none of the responsibility
Some people just like being in charge and the pay that goes with it. However, when it comes to being responsible for their employees and making sure the business is keeping afloat, they’d rather leave that to others.
While some entrepreneurs have trouble letting go of responsibilities, their opposites would rather lay the all the responsibility on their staff. At the end of the day, you’re the one in charge and you need to take responsibility for that. If you’re becoming an entrepreneur for the wrong reasons, you’ll struggle to keep it going and make yourself unhappy at the same time.
Do you know any wantrepreneurs? Do you think there are any other key differences? Let us know what you think.
Want to learn more?
Subscribe to our newsletter to get accounting tips like this right to your inbox
About The Author
An experienced business and finance writer, sometimes moonlighting as a fiction writer and blogger.