What trip should you take in the University of Life to go from Wantpreneur to Entrepreneur?
Best case scenario you already have the skills (and you probably do even if you don’t know it) but just can’t get your head around getting into your personal Ferrari and setting the GPS to your destination – achieving your goals.
Worst case scenario you’re on your treadmill running at 100 miles an hour, sweating it out, and staying exactly in the same spot. Unless your goal is to lose weight from running – getting on a treadmill and focusing all your energy on running will get you nowhere other than your starting point.
Does any of the List Below Sounds Familiar to you?
- You have seen at least 25 episodes of Marie Forleo TV
- You are subscribed to Dean Graziosi’s free channel and devoured every motivational you tube video he has produced?
- You put on your headphones and listen to entrepreneur podcasts every day on your power walk or commute to work.
- You’ve consumed more TED Talks than you care to count.
If you can attribute yourself to one or more of this, than you probably fit the perfect bill of being a wantpreneur who is fueled with desire to become an entrepreneur but your race to attain your goal is from a treadmill.
You are my dear friend a spectator in the arena and not the showpiece. And like most side-line spectators, you probably have the audacity to criticize the showman! Right?
Unless you are prepared to go into the arena and get your face marred in dust and sweat and blood – unless you are prepared to make mistakes – and daring to try again – you will never understand the triumph of high achievement. Unless you go to the arena you will neither know victory or defeat – This is rephrased from an awesome speech by Theodore Roosevelt.
So if you have read so far – you might just be ready to take massive action. Follow the 5 steps below and if you have any real drive inside you and you have staying power – I can personally guarantee that you will go from being a wantpreneur to entrepreneur in a short space of time.
The 5 Step Process to Get You from Wantpreneur to Entrepreneur
1. Use The Clarity Tool to Clearly Understand Where You Are Heading
Do you have a clue of what you actually would like to do? Having the clarity to know what you want to achieve is the most important step of the five steps.
This is important not just because your ultimate goal is going to be a journey with many goal posts – but it is what you are going to be doing over the next couple of years and therefore you have to be loving every single minute of it.
As such you much “know your why” very deeply. If for example you set yourself a goal to make $100,000k in your first year of business you really want to understand why.
Perhaps you want to match or double your present salary but do it on your own steam. That may seem to be a goal. But actually, that is a goal post. Something to achieve along the way of your Ultimate Goal.
Your ultimate goal needs to be more deeply ingrained in your bones. It has to be that thing which drives your passion. The stuff that you love doing so much that it does not feel like work.
So if you are still not sure what your hard core goal is – I suggest you start with the stuff you love doing most.
If you love fitness – turn your passion to a business.
If you are lawyer in a firm – try the aspect of law which excites you most and start your own side hustle.
If you bake great cakes – take to YouTube and bring your passion to millions of baking lovers. Then monetize it.
The list could be never ending, but it starts from the seed of a dream. The stuff that moves your needle. The core of doing something with so much passion and love that you know that you could do this every single day with enthusiasm. That by doing this, it excites you, it brings you joy and never tires you.
This is the clarity tool. If you are still not sure what really moves your needle – look at the daily habits. Even if you love to just sit and read – you already have your answers – make a business out of reviewing books.
Pick your passion and let us work on turning your passion into a business.
2. Experiment with Your Passion as a Side Hustle
Now that we have established “The Why” – we have to start working towards getting the why.
I have not promised that getting to your why is going to be easy like switching on a light bulb.
It took years of hard work and experiment to create the light bulb – Edison spent half a century of experiment doing that. But he was unwavering in his objective.
But the light bulb is there and now we have to start setting the path to bring the light on.
You have the idea and now we are going to work at getting people to buy into your idea.
The first challenge is finding time to take an idea – ground zero – to a business that pays. This is where the fun starts.
Assuming that you are already in a 9 to 5 job, you may want to start this idea from a side hustle. Therefore, this is where you are going to squeeze the time to give your idea the potential to grow and start working on it.
Here is how we go about it:
- Identify that people will be willing to pay for your idea – your service or your goods. The truth is that today in a digital world – if you are interesting enough you can create free s….t and just grab attention. After that you can monetize (YouTube views for example – or a great blog)
- Do some research – example if other people in your space are making money from a similar idea (there is no such thing as a new idea – but a personal version of idea). Check out how they do it and start your structure.
- Don’t obsess at perfection. Just get out there and start – the point is to get into the area and get the dust on your face. If you dig yourself into a rabbit hole of research – you will end up in a tunnel that you will never get out of. That is the expertise of wantpreneurs.
- The first step is taking you already from ground zero to level one. It may be hard to take the first couple of steps but ground zero starts looking far down when you look over your shoulders.
- Thank yourself for your effort – your future self will be very grateful to the hard groundwork you are putting in now.
3. Have a Definite Money Tag of How Much You Want Your Business to Make in Year 1
You may be thinking – from ground zero where I stand that sounds ambitious. Yes, it does, and it is exciting. But you must have the figure in your head, and you need to obsess by it.
Since you are presently a Wantpreneur and you have already done a ton of research – you may or may have not read the book by Napoleon Hill (available as an Audio Book on Audible too – grab your free copy here) Called “Think Grow Rich”. This book was written almost a century ago and in its greatest part is valid until today.
The second chapter of this books teaches you how to obsess with the money goal you want to make. It is a mantra that you repeat every single day. You tell yourself that you can do it until you get to the point that you believe that you will do it.
Your mindset must be groomed on two levels now.
- Your ultimate desire to become an entrepreneur doing that which you love most.
- Making the money which is the reward ratio for your effort so that you can also meet your financial goals to support yourself and your family in the best manner you want.
There is no shame in putting a price tag to your services.
Money is the ultimate trade-off between the value that you are giving to your client and that what he is prepared to pay for it. It is merely the medium of the exchange of value between what you are giving and what your client is receiving.
Here is a quick tip that is valuable for your business. Do not rely on friends and family to say that they will buy your product or service. If they hang on tightly to their wallet it means that they are not really interested.
Focus on those people who really need your service and are prepared to dig into their pockets and pay for it.
4. Time to Take the Risk – Go full Time on Your Business
Yes, this may be very daunting but taking the leap of faith is what will really grow you from a wantpreneur to entrepreneur. It is exactly this what separates the real hustlers from the dreamers.
Let us face it – you have just dipped your toes with your side-hustle and you have tested the waters and seen that yes you can make money from it.
But if you are just going to dedicate the time you are squeezing from your day after your 40-hour 9-5 job – you are going to get exhausted and your steam will run out.
Why should you spend an extra 40 hours on a job that gives you no satisfaction – when you can spend these hours creatively growing your business – that you have now seen can give you more than your regular job?
You have grown your skill. You are an excellent trapeze artist – and now it is time to remove the safety net.
Those 40 hours a week are 2000 extra hours to work on top of what you are already doing in your side hustle.
And removing the safety net will take your mindset to a new level. You know that you are not messing with your life now. You are here to really perform.
I have to admit that the first month or two when I took the plunge felt strange. Unless you are 100% committed and have excellent time management you will be testing yourself.
You will have unlimited time and unlimited freedom and like a rampant horse these need to be harnessed.
Moreover, I went from running an office of 30 people to being a solopreneur and the silence was quite deafening until I got accustomed to it!
Once the adjustment period is over, I can assure you that you are off to the races and no longer a rampant horse!
5. Scale and Grow Your Business – The Sky is the Limit
Congratulations, you may now officially give yourself a good pat on the back. You have gone from Wantpreneur to Entrepreneur.
If you are making as much money as you from your business as much as you were making working in a nine to five job that you resented, you already have two huge advantages.
- You are financially safe
- You are doing where your idea and your dream has taken you.
Now you need your natural ambition to kick in. Entrepreneurs are in the game because they desire more, they have excitement, and as such they gain momentum.
You are now officially in the game where you can scale your business, manage your time better and even have time for the family and friends.
Now you are in a position to give your work life and family life a good balance. That is already a great gain on itself.
However, be warned! When you start your own business, and you see that it is thriving, this could easily eclipse everything and possess your life.
You will not even notice this happening, as it creeps on you and your excitement at your success will be so huge, that it becomes the sole focus of your life.
This is where you need to start delegating wisely. Work on the stuff you enjoy and which is really productive.
The rest, if you are making reasonably good money – pass on to a virtual assistant, or a personal assistant that you work well with.
That is a great way to start building your team.
A team is indispensable to really see positive and exponential growth to your business.
If you free up your time, you can take on new clients and then you can scale and grow.
Growing Yourself from a Wantpreneur To Entrepreneur – Final Thoughts
Making the proverbial leap from a nine to five job to starting your own business is no mean feat.
Although when you read “The Alchemist” you will be naturally prodded to make the leap of faith and “fulfill your personal legend” – you will soon understand that the road to “finding your treasure” is fraught with stumbling blocks, potholes and challenges.
But the real secret to your success is just one thing. Have fun with your life, enjoy your venture. Be true to it and commit and you will never be bored.
As human beings we need anticipation, and excitement to keep us focused on our goal. If you do not have the excitement to pursue your dreams, then stick to your nine to five job.
But if you have read thus far into this post, it means that you are looking for the avenue of exit from boredom to fulfillment.
Take care of yourself, take care of your business, do something that will give you a passive income as well as an active income, and in the long run, your business will be taking care of you and your family.
Set yourself on the right path for financial freedom.
I am the living proof of this.
No one is going to hand you success – but it is your journey to go and grab it.