Two terms, so near to each other, but yet so far!

Moving around in business circles and interacting with business owners and salaried professionals, I often meet both types. But let me start with the definition of both.

An entrepreneur is a person who sets up a business or multiple businesses, taking on financial risks in the hope of profit. These individuals bring their ideas to life by acting on them and dealing with calculated risks. Their relentless drive and determination help them transform their vision into reality. Entrepreneurs do not hesitate to take on challenges and view obstacles as opportunities for growth. For them, failure is just a stepping stone toward eventual success.

On the other hand, wantrepreneurs would like to start a business, think and talk about it, but never get started. Wantrepreneurs may be enthusiastic and excited about starting their ventures, but they often struggle to convert their ideas into actionable steps. These people remind me of a cyclic equation: N = N + 1. Their time never comes. They are dreamers without action. They desire to become entrepreneurs but are reluctant to follow through with plans. Often, this is because they are unwilling to make the necessary commitment and are more scared of uncertainty. To them, avoidance is the only way of risk mitigation.

The disparity between entrepreneurs and wantrepreneurs lies in their mindset, commitment, ability to take action, and resilience. While entrepreneurs thrive on challenges and pursue their goals relentlessly, wantrepreneurs romanticize the concept of entrepreneurship but fall short in execution.

While many might say that wantrepreneurs lack the commitment and dedication to take the necessary actions, I disagree. Many may have ideas but are also content with their life, even if it lacks a sense of fulfillment. For them, the unknown causes more trauma than the joy of reaching a goal. And it is quite fine if a person thinks that way. Not everyone who loves adventures needs to go out trekking unknown territories. Some may opt to watch adventure movies and find joy in them.

I understand that entrepreneurship is the talk of the town. But to succeed in the entrepreneurial world, one must embrace the qualities of an entrepreneur, constantly strive for growth, and transform aspirations into reality. Not everyone can become an entrepreneur. Furthermore, we will have a severe workforce shortage if the world gets filled with entrepreneurs.

The conflict starts when entrepreneurs and wantrepreneurs run into each other’s territories and try to score brownie points. My next blog will have those examples.