As more and more startups are coming up, the title of entrepreneur is gaining more prestige among the general public. With this come those who seek to gain a moment of glory for themselves by assigning themselves the title of an entrepreneur. These people use the title to claim competence, reversing the cause-effect rule. You’re an entrepreneur if you have the required traits; you will not acquire those traits by calling yourself an entrepreneur.
So how can you separate a true entrepreneur from a fake one? Here are some tips:
1. They spend too much
Entrepreneurs are always seeking chances to grow. This means they’re very less concerned about luxury. Their only concern is maximizing growth. So if you see someone calling themselves entrepreneurs and see them spending more than is absolutely necessary for them or the company you can know that they are not real entrepreneurs. There’s no substitute for being economical.
In the beginning entrepreneurs don’t have much to spend. They will spend everything they have on their company. They aren’t concerned with making an impression by showing off how much they can spend. They are concerned mainly about how much work they can get done in the money they have.
2. Not risk takers/ take too much risk
Entrepreneurs are not afraid of risks. Neither are they too reckless about taking risks. Risk for them is just another factor to consider when planning their business. True entrepreneurs will never take unnecessary risk, they may sometime gamble with some opportunities but they know full well about the consequences and rewards that the risk comes with. Only after they have assessed these factors will they take risks.
(Image Source: Entrepreneur Fail)
Someone that does not take risks is never a good candidate for being an entrepreneur. Don’t even consider bothering with them. They don’t know what an entrepreneur is they just want to be called entrepreneurs.
A wannabe entrepreneur will take risk just for the sake of taking risks, or they only look at the reward side of the risk and ignore the cost. They have heard that most entrepreneurs take risks and want to copy them blindly, the perfect sign of a wannabe.
3. Negative attitude
If you have a negative attitude entrepreneurship is not for you. You cannot tackle problems with a negative attitude. If you cannot see a solution or even a hope for a solution when you encounter a problem, how are you going to solve it? One of the defining characteristic of an entrepreneur is problem solving.
So if you see someone who calls themselves an entrepreneur but is constantly looking of reasons why something cannot work, you have a poser in front of you.
4. Dreams small
Entrepreneurs are people who will never settle down for something average. If they have a local company they will work to make it national, then global. Or they will sell one of their ventures and start another one with a goal for making it more valuable than the last one. This way they are always striving for more. They are hungry for achievement.
If you know someone with a small business of their own with no plan or vision for expansion then they are not entrepreneurs.
5. Not individualists
Entrepreneurs are the best of individualists. An individualist is someone who has confidence in his own self and works for his own goals. Entrepreneurs need to make several decisions on their own and for their own. They cannot rely on collective judgment to achieve their goals. They will ask for advice from people but in the end they will make the decision that they think is best for them.
Some who needs constant assurance from others cannot make quick and final decisions. Someone takes a lot of time in making decisions will never be a successful entrepreneur.