Are You an Online Business Wantrepreneuer or an Online Business Entrepreneur?

Last Update: Jun 10, 2014


Online Business Entrepreneuers

Did you know that more than 70% of self-made millionaires are owners of a successful business? Think about that for a minute.Of the top wealth earners, 70% of them built their wealth by owning either a brick and mortar or an online business of some kind.

Maybe you have no interest in becoming a self-made millionaire.Maybe you’re just hoping to fire your “boss” and earn a full-time income from home. I get that.

Can You Get Rich With an Online Business?

Here’s another thing--I don’t for a minute want you to think that if you open a business... any business, or if you build a website, you are going to get rich.Nothing could be further from the truth.In fact, many business start-ups fail in their first year. That statistic is true for both online and offline brick and mortar businesses.

The diagram below from T. Harve Eker’s book “Secrets of the Millionaire Mind” illustrates the difference between those who earn from zero to a few hundred dollars a month and those who make a full-time living and beyond with their online business.

Let’s get down and dirty. If you were to be brutally honest with yourself, which side of the table is a better fit?Go ahead and tick off the statements that are true for you on each side of the table.

I’m not asking which one of the above statements you WANT to be true.I’m asking which statement is REALLY TRUE right now…e.g. true to who you are acting, living and being.

Let's Chat...

Okay, so let's chat a bit...go ahead, take some time and think about this question:

What do you think are the key differences between a Wantrepreneuer and an Entrepreneur who uses their knowledge and skill to generate wealth?

If you like this post, please hit the “like” button and leave your answer to the question below.Thanks for reading.

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Recent Comments


You are thought-provoking as usual Rebecca, I find myself being a member of both groups some of the time, so maybe I am a part time wantrepreneur and a part time entrepreneur. Also, I think you can move from one list to another over time, depending on circumstances, how much you travel and change jobs, meet new people etc.

Some of the best memories I have in life is when I was working with people who were hopeless with money, partied a lot, were not ambitious and lived life on the edge. However, I am not recommending this attitude to life, just noting that some people are more free spirited than others. If you are born into a family that is privileged your attitude to money and risk will be different than if you are born poor, so the picture is quite complicated I think. People are complicated, and I have just added confusion Rebecca LOL.

Oh no, dear confusion. People are complicated beings. We have all been given the miraculous power of choice. It's not uncommon to vacillate as Kary points out.

Money is a complicated issue for most.I've counseled with people on both ends of the money spectrum. While money can't buy happiness, it does give you more options. It's hard to be truly joyful when you live in abject poverty yet I've know people who were very wealthy that were miserable. Thankfully we have freedom choice.

Thanks for your comment dear one.:)Rebecca

An entrepreneur has a vision (not a hope), sets goals and then pours heart and soul into reaching those goals, letting neither rain, nor snow, nor darkest night (metaphorically speaking) deter them. Thanks for a great post!

All great thoughts, Ansley; you are so right. It takes a long-term commitment to succeed as an entrepreneur. Thanks for weighing in on our discussion. :)Rebecca

Very good article thanks for sharing

Hey Katie...thanks for chiming in with the discussion. Glad you like the article. :)Rebecca

Rebecca - I am just finishing a PLR product about defining your product before you write a word. I would love to use the headline you used here as an example. there will be no affilaite link involved I would be happy to describe you as a friend and link to a blog of your choice, hopefully it might drive some traffic for you.
O the other hand if you want to say no that's fie I wo't use it.

Works for me. I will PM you a blog post on one of my sites to link to. Thank you, Catherine.

Thank you for putting the first statement out. Sometimes the only way to cope is to shut down, but that in itself is not a negative.In its own way it is a way of growing, though you are not aware of growth. I wasn't aware of anything after being a chef all over the world for years I could not remember how to boil an egg without looking it up.

I would like to say I woke up, but i didn't, eventually I realized I was at crisis point I was going to be destroyed forever or I would have to claw my way back one day at a time to life,or go under totally.

Another point is that although our personalities don't ted to change our values do. Most people realize that there is more to life than money, That is a good thing we chase money in our early life because that is when we are mentally ad physically full of energy.

I see you have reached that blissful state beyond the "halftime" many of my financial planning clients experienced. At halftime most of us are trying to figure out what the first half of our life meant in terms of what we accomplished and what happened to all the money we made. Next we go on to consider significance. At that point we are in halftime. That's when life takes on a whole different, exciting level where money becomes the tool we use to bring joy to others and in so doing we find our greatest joy. :)Rebecca

So here's a thought does making money and being happy have to be either or? Is it possible to make a considerable amount of money and choose to use the abundance that you have to causes you care about thereby creating a state of joy and happiness?

of course. That is why I am so driven now. As I age I want to give something back.Money is neither negative or positive, it is what you do or don't do with it that counts.

OMG! I love you! I think exactly the same after nearly burning myself out on the chase. Money is such an elusive mistress. Many of us chase her only to find she leaves us wanting.

The truth is exactly as you have stated. Money is neither negative or positive. While we all need a certain amount for living essentials, money is a tool to be used to make a difference in the lives of others.

Love your comment, Catherine. Thank you.:)Rebecca

I had been in business for forty years, in the real world and the changed online. Then something absolutely catastrophic happened and my mind shut down for over three years. Now my mind has flipped back and onwards and upwards I am fed up with having a hobby. I am pondering your comment about shutting down and then flipping back. I don't know exactly what you mean but after a devastating divorce I shut down thinking I had nothing to offer anyone. I became a chronic "underearner". I did that because my self-worth crashed.

I fell into victim mentality and began focusing more on obstacles than opportunity. It took me a few years of healing to pick myself up into the mindset of a healthy income producer to where i was ready to put responsibility, plan and action together to produce the level of income I want to have to fulfill my purpose.

Like you, this is no longer a is a vocation...a onward and upward journey. Thanks for chatting with me dear Catherine. :)Rebecca

Hi Rebecca - In all honesty I don't actually like either list.

There are people who work for other people (ie they "choose to get paid based on time" and earn huge amounts of money - does that make them 'poor'?and I'm not sure what being 'middle class' has to do with anything. I think the language is just pejorative and therefore I have little respect for it. For some people - financial rewards are extremely important and they put a huge amount of drive to achieve it. To others it's not important and yet they able to find equal success and happiness. It may be a different mindset but it shouldn't be viewed as inferior.

Which list am I on right now? Neither

But thanks for sharing it was an interesting read. :) Beverley

I LOVE your comment, Beverley! For years, I was on the Wannabe side and sucked into the lure of my industry of "work harder, achieve more to have more". The whole financial industry is based upon making more money.

But here's the thing...true wealth is not about how much net worth or income you have. I have interviewed multimillionaires whom I considered to be "poor" not because of their socioeconomic class but because of their poverty spirit. While they were rich in assets, they were poor in time and poor in relationships and poor in peace.

The class distinction is something society, industries and politicians have labeled and people all too willingly accept. Nonetheless, we all need to determine the level of financial well-being and security we need to feel secure and happy.

That self-determined amount whatever it is leads us to the state of financial independence whether it comes from trading time for income or producing income from self-employed efforts. So how right you are...the path you choose and the level of financial reward you enjoy from your efforts is in no way to be considered inferior.

Thank you for such a thought provoking comment. :)Rebecca

P.S. I think you are definitely one who takes full responsibility for your actions, you are willing to promote your values, you are bigger than the problems that challenge you and you are always learning. I consider you rich dear one.

As long as you take responsibility for your choices it does not matter which side you are on. I have spet much of my life in Calcutta and loved it. my friends and family always said how can you stand the poverty? My answer at least in the seventies was that although these peopledon't have many things, - they are not poor they have a rich cultural heritage the children can walk one from one end of the city to the other in safety. That makes them very rich.

Oh my, I wasn't expecting to hear from such deep thinkers early on in this post (LOL) but how I love your dialogue. You are both going well beyond the surface issues of the practical, quantitative side of wealth into the deeper, more spiritual aspect of wealth.

I hope I don't embarrass you, Beverley or you Catherine because I know you are not looking for accolades, but I do admire your depth of thinking and your skill in communicating the authenticity of your values.

You have managed to take my simple little "chat" to a whole different level. I am truly grateful. :)Rebecca

I am a reformed wantrepreneur. The only difference is a business plan and taking massive action

You and I are on the same page. I could not agree more. Thanks for weighing in. :)Rebecca

A wantrepreneur tinkers around and fools themselves into believing that they're an entrepreneur. They pick and choose the things they like doing and look for ways to get around what they don't like.
The entrepreneur treats their business like a business and does whatever is necessary to win!

Powerful answer, Steve. You just nailed the biggest differences between dabblers and doers. Well done! :)Rebecca

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