A wantrepreneur is someone who wants to become an entrepreneur but is not really doing the work to become one. Basically, they’re all talk with nothing to show for it.
That’s me to a t.
Somehow, the desire is still there to become an entrepreneur/business owner. The flame is alive and it’s still burning. However, taking the steps to get there is really lackluster. I get squeamish thinking about the things I need to do to add a side hustle in my life.
But I know that I need to go out there to earn more money so I can save more and build up a bigger store of capital to pursue bigger projects. Bigger projects mean potential for bigger profits.
Then I look at all the things I have to do at home and I give up and go back to doing the same thing I always do: nothing.
Therefore, I am still a wantrepreneur, a poser, really.
I say that I am motivated to become more financially independent, but I still hesitate to pursue other streams of income. Why is that? I am curious as to why I always fall back on the established routine of work. I always make excuses and say I have a lot of things to do for work, blah, blah, blah. But many people are just as busy and still manage to earn more income from side hustles.
I think I know why: fear of the unknown. I spoke about this before in my blog post about leaving my comfort zone.
I think I also don’t want to make a big mistake, or more importantly, lose money.
Essentially, I fear failure.
It’s easy to just dream and hope and plan. But putting things into action is hard. There are consequences from our actions. If I do something and lose a lot of money in the process, the feeling of failure is exemplified even more. Not only that, you run the risk of being traumatized by the failure that you don’t want to risk anything any more. You give up pursuing new avenues for other income streams.
I worry about that, but I hope I won’t succumbed to these fears.
I don’t want to be stuck being a wantrepreneur.
However, I do have one saving grace that is leading me towards the path of entrepreneurship. The one big thing that I’ve done last year was to buy a rental property. I actually did it–I bought an income-generating asset.
I am cash flowing positively at the moment, but I’m not very profitable. I will go into more detail about the experience on a later post and give you some hard numbers into the project. I feel like it deserves a deep dive on its own. Suffice it to say that I am currently satisfied with it.
However, the amount that I am making will not be enough to help me or my husband retire early. At this point, I feel like I’m not even trying as hard as I should be. I know I need to increase my income, but I just don’t want to give up all my free time.
And that is what is keeping me stuck in this pattern of complacency. I am busy.
But I want more money!
This is why I am trying to pursue more passive streams of income.
However, it’s not really completely passive, is it? The thing about passive income is that it starts off with a lot of upfront work. After that’s done, you reap the benefits. That upfront work is tough to manage in between life and my so-called part-time job.
And I’m supposed to add another side hustle to all of this?
It’s hard to figure out and I’m still muddling through it all.
Until I find the answer, I will be moving in and out through this state of entrepreneurship and wantrepreneurship.