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Wanting to Start a Business is Enough to Start a Business

women small business owners

Entrepreneurship is a passion worth exploring even if you don't have it all figured out.

On Reddit, there is a specific group of people that are highly active in the Entrepreneurship sub called "Wantrepreneurs." The wantrepreneur is precisely what it sounds like, someone who wants to start a business but never really acts on the desire.

A wantrepreneur does everything it conventionally takes to start a company except actually starting the company. They continually ask for book recommendations reading everyone else's opinions until they no longer have any of their own. They create lists and lists full of ideas then go around soliciting opinions until they ultimately don't act on any of them.

Perhaps most insidious about the wantrepreneur is how willing they are to dissuade actual entrepreneurs from jumping in and starting. Their disparagement other people's business ideas and enthusiasm is swift. They tell entrepreneurs there's no money to be made in their perspective industry. They lambast entrepreneurs who jump on trends. They're the resident "negative nellies" because they'd sooner project their own insecurities on others rather than looking in the mirror.

Like the entrepreneur, a wantrepreneur wants freedom and recognition. However, unlike the entrepreneur, their fear of failure supersedes any of their desires. So, they resign themselves to merely being in the company of risk takers and reading books about taking risks. I should clarify that I'm not discouraging reading and research before launching a business. I'm discouraging using research as an excuse to procrastinate. Frankly, I'm against using any habit as an excuse for procrastination.

You don't have to be all-knowing, get the approval of others, or have a heartwarming story to get started. Wanting to start a business is enough to start a business. Most people incorrectly believe that you should only create a business from a passion or hobby. What if you want your hobby to stay a hobby? It can be emotionally jarring to take an activity that provides you with comfort and inspiration and then begin relying on it for income.

Entrepreneurship is a passion, and it can be a hobby as well. A full-time entrepreneur is a "thing" and is more common than you think. A successful entrepreneur takes business ideas, develops them into attractive companies and sells them for profit.

When you think about it, it is a lot like flipping a house. A full-time entrepreneur doesn't necessarily have an attachment to a particular. They can just enjoy the creation, workflow, and the evolution of an idea. They're drawn to the freedom to create their wealth and make their own rules. Sometimes they just want a shot at making a stamp on society.

If these qualities resonate with you, but you haven't acted on your aspirations due to feeling unqualified, unsupported, or afraid, then these next tips are for you.

If possible, try not to accumulate debt.

My first two businesses were funded by cash only and I'm so thankful. I LOVED running my unprofitable businesses. I learned so much about business, workflow, and marketing. Still, when it came time for me to throw in the towel I was able to close each business quickly and cleanly. There are ways to "dive in" without losing everything. Create a realistic budget for your business and stick to it.

Don't tell people about your business until it's fleshed out.

There are a lot of wantrepreneurs or otherwise well-meaning people who never took risks to achieve their own dreams. Those same people will attempt to talk you out of your goals as well. You can bypass the heated discussions and negativity by keeping your ideas to yourself.

Allow yourself the grace to make mistakes.

You don't know what you don't know, and I guarantee you there aren't enough books or classes in the world to replace a hands-on education.
Unless an entrepreneur has extensive experience in their perspective, they're always learning on-the-fly. Hell, even if the had background it was likely at the employee level. It's a whole different ballgame when you're the owner.

Don't slack on the legal work.

Make sure you follow all the local laws and regulations for your business. It doesn't matter if you don't anticipate making money for a long time. Your business could become a smash hit overnight and without the right legal work in place your company can be vulnerable. Or, and sometimes even worse, the IRS can catch up to you.

Define success and failure for yourself.

You need to decide for yourself when it's time to throw in the towel. Then, remember that intellectually there is a lot to be gained from either outcome.
Finally, don't feel embarrassed if your business doesn't work out.
You won't be the first entrepreneur to fail and you wont be the last. Instead, take what you learned, dust your knees off and try again.