EFP 107: Yep, You’re a Wantrepreneur (Here’s How to Fix That)

Justin Cooke

August 21, 2014

EFP 107: Yep, You're a Wantrepreneur (Here's How to Fix That)

If you’ve ever found yourself doing things like making lots of plans but not getting it done, looking for approval for your idea, or complaining about how easy things were in the “good old days”… you might be a wantrepreneur!

Talking’s easy, but how many people actually walk the walk?

6 Different Types of Wantrepreneurs & Transitioning Into Actual Entrepreneurship

Today, Joe and I talk about six different types of wantrepreneurs and discuss solutions to transition into actual entrepreneurship.

Be honest with yourself. Are you a wantreprenreur? Give this episode a listen.

Check Out This Week’s Episode Here:

 Direct Download – Right Click, Save As

Topics Discussed This Week Include:

  • Working backwards from what success would be and planning action steps.
  • Dreamers who don’t ever get things done.
  • Validation and permission seekers.
  • Romanticizing entrepreneurship without acknowledging realism.
  • Holding onto ideas that doesn’t do much good.
  • Comparing the present to the past and missing opportunities.


Spread The Love:

“It’s cool to dream big but you have to take action.” – Justin – Tweet This!

“It’s your failures that will make you successful.” – Joe – Tweet This!

“Stop going with the flow, get used to being uncomfortable.” – Justin – Tweet This!

Do you fit into any of the wantrepreneur profiles? What’s holding you back from becoming an entrepreneur? Leave a message on SpeakPipe or share your story in the comments.

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  1. Jorn says:

    Hi guys,

    Thanks for this podcast! Reality hit me hard during this episode.

    I am little bit of the dreamer, the ‘too busy’ guy and ‘no-focus’ guy.

    I’ve read thousands of articles and listened to many podcasts about online businesses. Never doing, always an excuse: “I have no good idea’s”, “I have not the right skills”, “This will take ages before getting income”, “This won’t work in my country” (I’m from Holland). I am really struggling to take a step forward into starting a online business.

    And there so many different options!! Affiliate marketing, authority sites, adsense, productreviews, consulting, webbased solutions and many more.

    What’s your advice? I’m smart, I have a good job and just want to try to generate some extra side income. I really haven’t a clue how to get the wheel spinning.

    • Justin Cooke says:

      Hey Jorn,

      The route you should take will depend on your interests and skillsets, so I can’t help out there as specifically as I’d like. The best advice I can give you is to pick one and STICK WITH IT. Don’t get distracted with other routes, options, or “shiny new objects”. Stick with the one plan of attack for at least 12 months. That should give you enough time to work out the kinks and get it up/running.

      Two programs I really like right now would be Niche Pursuits and Dropship Lifestyle. Both are great for getting you up and running. I’d also listen to the TropicalMBA podcast (about online business in general) and ours, of course. :-)

  2. Jeff says:

    You guys hit the nail on the head with me here. I cant forget what you called it but I’m the “lack of focus guy” who is trying to do 15 thousand things at once. Another reminder that I Need to take it slow and focus on one project at a time and get those to where I want them before moving around to another thing. I know I can do this, and hopefully if I can focus starting soon, you guys will have a few of my sites to sell soon.

    • Justin Cooke says:

      Hey Jeff,

      I hear ya, man. It can be hard to not chase after other opportunities…you just have to remember there’s a cost that comes with “switching” back and forth from one to another. It’s WAY worse to take on multiple project and not crush it with any of them. I’d rather focus on 1-2 and fail/succeed spectacularly with focused effort.

      Hope we can help you sell some sites, man!

      • Jeff says:

        I’ve been getting much better, but still not as good as I can be. The google sandbox has made it worse, because I keep switching between projects.

  3. Shayna says:

    This is a solid episode not only for wantrepreneurs, but also entrepreneurs who have something going but may occasionally slip into the mindsets or bad habits mentioned. Gonna have to give it another listen, along with some self-examination :-)

    I found this interesting:
    (From http://www.thecultureist.com/2014/08/11/millennials-entrepreneurship/)
    – 72% of millennials at regular jobs say they want to quit
    – 61% plan to quit within the next two years
    – 58% consider themselves entrepreneurs

    That’s a lot of talk…yet how many actually quit? Definitely seems like entrepreneurship is romanticized or fantasized about, but few are willing to walk the path.

    • Justin Cooke says:

      Hey Shayna,

      Yeah, I think this is important for even seasoned entrepreneurs. We’re ALL new at something and regularly have to fight through at least one or two of these issues throughout our “career”, heh.

      I think your link was messed up, try this one:


      Not nearly that many quit. I think it’s nice to talk about it or “have plans” to do it – makes you sound more interesting, maybe?

  4. Dom Wells says:

    Really funny show this week guys! I never knew Baseball analogies could be so much fun.

    Laughed out loud at the idea of the planner and the idea guy having a meeting.

    Joe, I heard Macau differs from Vegas because people generally go to Vegas expecting to lose money, so it’s got a more party atmosphere (something I experienced when I went), whereas the people who go to Macau think they’ll be able to actually earn money, so it’s much more serious. Sound about right?

    • Justin Cooke says:

      Glad you dug it, man! We had fun recording this one, heh.

      I had a really good time when I was in Macao, but I only made the quick trip for one night over from HK. Joe was saying that spending more time in Macao left him with not much to do…

    • Yeah, Dom, very serious gambling. Most of the player don’t seem to drink anything other than iced coffee. We were at a craps table and hit out point 7 times in a row. My buddy and I were cheering, the rest of table was silent. Strange…

  5. David Humphries says:

    Boy – I’ve had a personal struggle with this. I’ve got the cushy day job with great pay and on the side a couple online businesses. I devote an honest 2 hours a day to the online stuff – but I’ve always got this thought that they’re just a hobby. I do profit ~$1500 per month though. Maybe I’m a kindapreneur. Keep up the good work – I wish I had a itunes account to give you 5 stars!

    • Justin Cooke says:

      Hey David,

      For two hours a day, you’ve got a nice little (profitable) hobby for yourself!

      Are you actively looking to drop the day job for an online business? If so, I don’t envy you. Having a well-paying (and cushy) job can make transitioning all the more difficult.

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