As they say on Shark Tank, ‘Be an Entrepreneur, not a Wantrepreneur.’ But what exactly is a wanna-be entrepreneur anyway? Some experts say a real entrepreneur focuses on one particular trend that is constant. They also build companies and things that individuals see as profitable and wanted. At times they ride trends, but are not driven by them. They also produce business models that work and are successful. Successful men and women are not often driven by trends or fads; rather they try to focus on these four things:
• Fix companies which are broken and unprofitable. Simply, they try to turn things around and make the company or idea a success.
• They assist in fulfilling customer needs and wants much like big box stores do.
• Help other individuals who want to start and grow a business. They also offer sound advice, tips, knowledge, and tact in a way that produces positive results.
• They turn their passion into a business and know how to make a profit out of what they love, which again, makes them quite admirable.
One of the most inspiring heights entrepreneurs reach is turning their passion into a business (and hopefully a profit). Take a look at the panel of business men and women on ABC’s Shark Tank. All of the entrepreneurs started small and built their dream on very little funds to begin with and took the ball and ran with it. Specifically, they bought the ball, marketed and built it up, helped make it profitable, and then ran with it.
Let’s look at some of the other mentioned points. There are companies that fail, only to be picked up again by another investor. Cellular phone companies reform all the time. For example, for years Bellsouth Mobility operated a cellular phone business and then reformulated as Cingular Wireless, and then a few years later became a part of the AT & T family. So a company may start out under one name and then form under a new name – only to be bought out by one company or another. The company that does the buying out of the other business is usually a larger entity. This can be good or bad for the original company. Jobs may be lost from the original business and money may be lost or it may be gained. Both entrepreneurs’s and companies take risks, but without taking those risks something will either be gained, lost, or will stay the same.
Smart business people also help fulfill customer needs and wants. For instance, take Target Corporation. Right now they are in a mess with the recent credit and debit card breech. They have to fulfill customer needs and wants, and also do some fancy public relations to smooth over their guests displeasure. In addition, Target has to investigate the breech with proper law enforcement to get to the bottom of the incident.
Take a look at Shark Tank again - all of the investors try to assist entrepreneurs’ (both young and old) with their endeavors to either start or grow their company. When looking at the panel of sharks you can see real movers and shakers – not want-a-be’s. The sharks are tough cookies, but they have what it takes to both start a company and also help others grow their company as well. Each shark was passionate about their idea, invested their money properly, marketed, promoted, and executed the business venture. The fact that they start what they finish makes them another example of a good entrepreneur.
Movers and shakers also take their passion and turn it into a business. Take a freelance writer for example. Freelance writers take their passion for writing and build on that passion by making the exercise profitable by offering their writing, researching, and editing skills to potential clients to make money at what they love to do. These writers go through a process of being passionate about their craft and also learn how to manage a small business in the process – making them even more marketable in both the writing and business world.
Entrepreneurs love being busy, while wantrepreneurs love feeling busy. Real entrepreneurs make ideas tangible and turn the ventures into success. The sincere big guys enjoy result-based strategies and wantrepreneurs enjoys the easier route to success. They like to avoid hard work and failure. CEO’s know they will try different business avenues and those avenues may fail, but that is ok. The wantrepreneur has fears and tries to avoid failure of all costs. Of the things that make entrepreneurs so appealing is that they are fearless and do not care if they fail. They will simply die hard trying to be a success.