Once we had a neighbor, Susie, who wanted to grow her own vegetables. She bought brightly colored packets of seeds and small tomato and pepper plants. She proudly showed us her pristine matching gardening gloves and kneeling pad. Bags of fertilizer were piled up in the yard. And they stayed there basking in the sun for…ever!
The problem was… Susie loved the idea of harvesting her own fresh produce, but hated getting her hands dirty.
She was a wanna-be-gardener.
She had everything she needed to grow a bountiful garden EXCEPT the motivation to get started.
Sadly, we’ve discovered there are far too many people waltzing around in the digital world with amazing ideas they know can bring in millions. They get all the “accessories” of business like fancy business cards, pens with a clever slogan (we got a batch of coffee mugs with our logo plastered all over them before we even earned our first dollar online – so were guilty of this), an eye-catching ‘architecturally’ designed website.
But… they get stuck in their tracks and go no further than those bags of fertilizer in Susie’s yard.
Then there are the hordes of freebie-seekers who rightly understand they don’t need to have the latest whiz-bang idea because they can sell other people’s stuff for profit – BUT they misguidedly believe they can build and grow an online business by investing the square root of bugger all! We kinda understand where the notion comes from, because Google Search and Google Accounts are free, and Facebook and Twitter are free, but no business is ever free. All businesses require some form of investment – and it’s naïve not to spot that.
And then there are the dreamers who fantasize about running their own business, being their own boss and establishing their own work schedule. They ask a million questions to get every ‘i’ dotted and every ‘t’ crossed, but simply don’t implement the steps to turn that dream into reality. They’re not ready to take calculated risks. Because it sure takes a lot more than visualization and positive thinking to be an entrepreneur!
All these people are commonly known as Wantrepreneurs.
How Do You Morph From Wantrepreneur To Entrepreneur?
Having been Wantrepreneurs ourselves back in 2009, and being our own worst bosses (we wrote about it in Living A Laptop Lifestyle)… we KNOW what to look for – we see the tell-tale signs and recognise all the hallmarks of wanna-be online business owners.
So, if you're swanning round sporting that Wantrepreneur badge, we've put together this useful guide to help you bin that image today:
There are seven definite secrets you must learn and do:
1: Dismiss this myth
We didn’t get this right!
When we were ousted by Corporate Britain, we started to look for new jobs, but during that soulless period of ‘playing the game', we decided ‘enough was enough' and opted to start our online business from scratch. We believed the myth… that Entrepeneurs risk all, go all in, jump in boots ‘n all. Wrong!
In his book ‘Originals: How Non-Conformists Move The World', Adam Grant refers to research carried out in the US from 1994 to 2008, which studied 5,000 people in the 20-50 age range, who switched from Wantrepreneur to Entrepreneur.
Entrepreneurs who kept their backup income, their existing business, or their day job, had 33% higher chance of success than people like us who quit their jobs at the outset. You'd want those odds in your favour, wouldn't you?
The reason why is, they have a backstop while they manage the transformation. So they treat their new business venture as a second stream of income.
Testament to this fact is that most of the 800+ people we've personally coached to build their online business, have done so whilst holding down a full time job. Quite simply, it's a more calculated risk.
2: Prioritize with your eyes on the prize
A Wantrepreneur puts their energy and finances into the things that might make them look like a business person. The website, the logo, all the outer trappings. These are the things they’ll need… EVENTUALLY – but not right at the outset.
True entrepreneurs know it’s important to provide a service or a product which fills a need, one where people will buy.
Your primary concern is to solve a problem for a customer, because your goal is to make sales. So, your initial focus will be to:
- Understand your market and the demand for your product offer
- Know the pain points your prospective customers experience, and
- Learn how to ‘speak’ to your customers in their language, to help alleviate their problem
Of course, you’ll need that website – but you won’t need all the fancy bells and whistles from the get-go.
Without a doubt, you’ll also need an excellent marketing budget to attract targeted customers and build an email database – which is the pivital thing freebie-seeker Wantrepreneurs don’t understand!
3: Read, take heed, and succeed
Another area Wantrepreneurs get bogged down in is the difference between thinking about doing something and actually doing it. Yes, visualization can be very effective. Reading books is important; you’ll find wisdom and solid advice in many of them. But, if you don’t do something after you read the last page, or watch the training video, NOTHING changes for you!
If you’re hungry and just read cookbooks, your belly will remain empty.
If you purchase that gym membership, but don’t work out, you’ll still be all soft and wobbly.
If you read about becoming a success and don’t put in any effort to build your online business, your bank account will be empty.
People will grow weary of hearing endless talk about your “business”. Results, and only results, will set tongues wagging.
Imagine your Uncle Bob buys the latest shiny black SUV with all the trimmings. He polishes and buffs it till he sees his face shining back in the reflection. But, he never fills the fuel tank, so it just sits in the drive. It doesn’t go anywhere. And neither does Bob. That face in the reflection is the face of a Wantrepreneur!
4: Don’t be afraid of being afraid
Some of the biggest success stories encompass stories of big failures. Oprah was fired from a job as a TV reporter. The Diary of Anne Frank, Harry Potter and the Sorcerer’s Stone, Catcher in the Rye, and Gone with the Wind, were all rejected time after time. Mark Cuban was fired from his job as a computer salesperson, and never again answered to a boss.
Wantrepreneurs and entrepreneurs view risk differently.
Wantrepreneurs focus on failure and freeze.
Entrepreneurs view failure as a temporary road block to push through – as a learning experience. Entrepreneurs learn from those road blocks and use them as sign posts on their journey to success. The face the fear and do it anyway – risk looking a fool with zero concern of how others may (but likely don’t) judge!
Jay Kubassek, serial entrepreneur and Co-Founder of Digital Experts Academy, always talks about building the plane while flying it. In other words, a business idea or concept doesn’t need to be perfect, or even finished, before taking it to market. So it pays not to be a perfectionist, to execute an idea, and make tweaks and adjustments later.
5: Move it then prove it, not the other way around
Wantrepreneurs refuse to step out until everything is exactly the way they think it should be. They want proof of perfection, in funding, timing, plans. They need 50 million answers before risking a dollar – even if it’s a calculated risk. They’re so deep into the finest details they can’t see the big picture.
Real entrepreneurs hit the ground running. Yes, they do their due diligence but they’re adaptable and clever. Whatever it takes is what they’re ready to do. They will bootstrap their company, they’re RESOURCEFUL, and find ways to get the funds they need.
Like a champion high diver, they’re prepared and ready when they’re poised at the edge of the diving board. Wantrepreneurs go back and forth and freeze, never to make a splash in the world of online business.
6: Have a strong will, so you will!
In an average business week, you’ll face disappointments, stress, pressure and doubt.
That kind of week is not for the weak.
Wantrepreneurs might want to be successful but lack the will to fight through the inevitable challenges of business. They always have the exit door in sight.
Entrepreneurs go into business with their eyes, hopes and heart open. Failure may be hanging around the fringe, but that doesn’t stop them. A true entrepreneur may see a detour sign but never an exit. They succeed because they refuse to accept anything less from themselves.
Entrepreneurs understand that online business is like a roller coaster – they’re strapped in for the ride, a downward disappointment will lead to an upward success, and when they’re in a corkscrew spiral, they know they’ll pull out.
6: Never presume
As humans, we generally like to be right all the time, don't we? (ha ha – case in point). It takes a lot to accept personal blame for being wrong. We take it as a chink in our armour.
As a result, Wantrepreneurs presume TOO MUCH. They think they know better. They're not inclined to test the market to determine what their prospective customers actually believe.
Sadly, we see this behavour a lot of the people we personally coach. They see another marketer doing something on Facebook, say, so presume if they're doing it, it must be working and it must be OK to do it too. Wrong again!
On the other hand, Entrepreneurs know they have to do their research, to test and tweak everything they can in their marketing, and never presume they're right. They're also quick to ask for help, don't attempt to reinvent the wheel, and recognise and accept their own strengths and weaknesses 🙂
Ditch the Innner Wantrapreneur
Do you see yourself in any of the Wantrepreneur traits? We’ve all been there. But, we don’t have to stay there.
Focus on the first four letters of that word. Want. How much do you want success? How big is your driving motivation? When you’re ready and willing to go for it, simply:
Dismiss the myth.
Keep your eyes on the prize and prioritize.
Hit the gas and hit the road.
Stare failure in the eye and do not blink.
Move forward with confidence and conviction.
‘will' not ‘won’t'
‘when’ not ‘if’'
‘do’ not ‘try’ (As Yoda says: “Do, or do not, there is no try”)
The language you use ‘on yourself’ is SO powerful.
And… test and tweak till the cows come home!
Then you’re ready to morph from Wantrepreneur to Entrepreneur. Take that good idea and take it to market, or embrace affiliate marketing and leverage other people’s products for profit. Dedicate yourself to break down barriers and build your business. Turn those failures into fertilizer, till that soil, plant hope and smart work, nurture your prospective customers, and reap the harvest.
It’s an immense joy for us to see others discovering how life can be so much grander and far more rewarding than they ever believed possible in this digital age. Your participation is valuable, others will benefit from it, and you’ll experience such joy too. Your world will expand and the world around you will improve because you dared to take brave steps.
If you’re up for taking the first brave steps, and are ready to roll up your sleeves, work smart, seek help, and don’t re-invent the wheel – the easiest entrepreneurial path to take is to promote other people’s products for profit – and, in our opinion, the very best training and support to learn how to do that is provided by Six Figure Mentors and it’s sister company, Digital Experts Academy.
Six Figure Mentors has all the education needed to be entrepreneurial. They also have all the mindset guidance online entrepreneurs need, and they have the community of like-minded entrepreneurs to support the ups and downs of the roller coaster that is online business.
So, over to you. Go do it!
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