How to Tell if You're A Fake Entrepreneur

There are a lot more people talking about entrepreneurship because of mainstream shows like Shark Tank, the Profit, and many others, it seems like everyone thinks they’re an entrepreneur when that’s not really the case. Telling yourself you’re an entrepreneur or an innovator doesn’t mean you are one. In today’s video I am going to share with you how you can tell if you’re a fake entrepreneur.

Working for yourself and being an entrepreneur are two very different things and most people think that if they just start a business of their own, they’re in the cool kids club of entrepreneurship.

Now you might be cut out to be an entrepreneur by having new ideas that you come up with or you’re the type of person that is always thinking ahead or you’re never able to sit still in your business. Many people prefer routine with measured dashes of variety in their life. Consistency and stability is their general goal, and that’s perfectly understandable, but not for real entrepreneurs.

Just because you have the promising traits of entrepreneur blood coursing through your veins doesn’t mean you’re an entrepreneur.

Job security, regular pay, and an expected level of comfort are why most people like to have a day job and I understand. I’ve worked for others in my past so I know how warm it can feel to have security. Indeed, it’s nice to feel secure, but working for others can never get you the title of entrepreneur.

There are pros and cons to entrepreneurship, one of them being that entrepreneurship can be a roller coster at times. And it can be an uphill battle to become profitable which is why entrepreneurship is risky, but I myself don’t want to live life any other way.

Fake Entrepreneurs Are Employees at Their Own Businesses.

The first sign that you’re a fake entrepreneur is that you’re an employee at your own business. These types of people are all around us and although some don’t claim to be entrepreneurs, a lot of them do think they’re entrepreneurs, but they still have the employee-based mentality.

A real entrepreneur is willing to risk everything to come out on top. The fake entrepreneur isn’t willing to risk anything because they’re comfortable with the business they have and the income they’ve created.

Real entrepreneurs always want to grow; they want more, they want bigger, and they won’t let anything stand in their way to be the best. Real entrepreneurs don’t want to have an average business that makes average money, real entrepreneurs want to be the best and if they have to create an entirely new business from scratch they will because they have that drive to make their dreams and goals become reality.

Fake Entrepreneurs Trade Their Time for Dollars.

One of the biggest signs you’re a fake entrepreneur is that you’re trading your time for money.

Listen, I don’t care what business you have or how much you make, you are not a real entrepreneur if you’re trading your time for dollars.

For example, freelancers are big on thinking they are entrepreneurs because they say they get to do what they love, but their income caps out on how many hours they can work. Of course they do get to work for themselves and not have to answer to a boss, but they still trade their time for dollars and this isn’t being an entrepreneur.

Real entrepreneurs will take risks to make not only more profits, but profits in general. A person who sets up a business or businesses, taking on financial risks in the hope of profit is an entrepreneur. Meanwhile, a freelancer is: self-employed and hired to work for different companies or clients on particular assignments.

As a freelancer, like I said, you only get paid for the hours you work so your earnings are capped by the hours you work in a given day. On the other hand, as an entrepreneur, if your business is successful you earn money around the clock.

Here’s how my friend Seth Godin explains it: Freelancers get paid for their work. If you’re a freelance copywriter, you get paid when you work. Entrepreneurs use other people’s money to build a business bigger than themselves so that they can get paid when they sleep.

The world of work and how you make a living is completely different to what it was a couple of decades ago. Jobs are no longer for life, or even particularly secure by any means. Job hopping is the new normal and that’s because in school we are taught to work for others. We’re set up to become slaves to the 9-5 grind and we’re never taught to think for ourselves and create something of our own because it’s too risky. The average “career” in the U.S. now lasts a little over four years.

Americans will now typically work a dozen or so jobs between entering the workplace and retiring. To me entrepreneurship is less risky because when you get old and retire you don’t want to be one of those people who say “I could have done that, I could have been there.” What you want to be saying is “I did that, I was there.” You’ve got to try, you’ve got to live and not follow the status quo.

If you want to live out your dream life and call yourself an entrepreneur then you must give it all you’ve got and never look back.

You don’t need skills to become an entrepreneur, although they do help.

With entrepreneurship, it’s all about the idea that you come up with. Have an idea that’s going to change the world — or at least make a lot of money — then you need to make it happen. Pursue your creative vision, and turn it into reality. The better your idea, the more money you’ll make, and this is where you can start calling yourself a real entrepreneur.

Share with me in the comments section what you like or dislike about entrepreneurship. Do you call yourself an entrepreneur or are you working hard to become one? Let me know. 😉

Scott “entrepreneur for life” Hurtado