Habits and Hustle - Episode 264: What Makes Someone a REAL Entrepreneur?

Episode Date: August 4, 2023

What makes an entrepreneur a real one? In this episode of the Habits and Hustle podcast, I chat with you about how it seems like everyone is calling themselves an entrepreneur. But what exactly makes someone an entrepreneur Vs a marketer, for example? And where exactly do we draw the line between an entrepreneur and a charlatan? I also talk about the amount of courses being sold from so-called experts on entrepreneurship whom don’t have any entrepreneurial experience themselves.  What I discuss: 01:47: Are all entrepreneurs really entrepreneurs?  04:31: What makes an entrepreneur a real one? 09:30: Are most online courses a scam? My links: Website: https://www.jennifercohen.com/ Instagram: @therealjencohen  Learn more about your ad choices. Visit megaphone.fm/adchoices

I got this Tony Robbins you're listening to Habits and Hustle, Creshian. Oh, welcome back to Habits and Hustle solo edition. Well kind of solo edition. I do have my foil shawty with me, but you can't see her because we only have one camera. So you hear her, but you don't see her. And we just kind of just jibber jabber on, you know, current topics that are interesting, at least to us, hopefully to you.

And, you know, today's topic, we're gonna talk about, I feel, something that is so overused, which is the word entrepreneur. I mean, is everybody now an entrepreneur because of Instagram and social media? Like, I feel like it's become like the sexy hashtag. Like, everybody now wants to be an entrepreneur.

It's so overused. I had serial entrepreneur in my clubhouse bio for about a week, because a friend told me I should put it there. Yeah, everyone has that in their bio. And then I was like, this needs to go. Okay, every bio now, if you look on anybody's bio, it has the word entrepreneur.

You could be like a dog walker slash, I don't know, I guess meditation guru. Okay, and then you have the word serial entrepreneur because I think what happens is everyone assumes, well, if I'm my own business, I guess technically you are an entrepreneur, right? Technically you are, just so many people are now starting their own things and even if it's like a small thing they're counting themselves as an entrepreneur but it is

I guess the question is like what classifies or what are the qualifications to make somebody an entrepreneur? Because there's a lot of people out there who may think or want to be an entrepreneur because it's become that sexy hashtag, but they don't have the characteristics that make a good entrepreneur. And so there's nothing wrong with not being an entrepreneur and being something else. But you know, now everyone's an entrepreneur. Well, I feel like you're asking the question between what's a successful entrepreneur and what's just not? No, I'm not.

I'm asking a few different questions. The first question is, what are the characteristics of actually being an entrepreneur? Number one, not just saying you are because it sounds good and it sounds sexy because it's trendy right now. That's the first question. The second question I have is, you know,

I have not even a question. I have a bone to pick with the fact that there's so many people now just selling courses like as to how to be a successful entrepreneur, but these people, the only entrepreneurial thing that they're doing are selling these courses to entrepreneurs, but they don't have any actual, you know, experience or background in building a company or doing anything entrepreneurial. But they're just now doing funnels. So is that an entrepreneur? Because you thought about that idea

to then make money off of the program. So technically you are an entrepreneur. Technically anyone who has their own business, right, or starts their own business, is technically an entrepreneur. But I think some people who are just entrepreneurial in spirit, but don't necessarily have a business, still also call themselves entrepreneurs. Okay, right.

That's a great point. That's a great, great point. So there is a major... So much. No, I think that's so true. I really believe there is a big, big difference between being an entrepreneur and being entrepreneurial, right? And maybe wanting to, you know, kind of work on being an entrepreneur, being entrepreneurial, right? And maybe wanting to kind of work on being an entrepreneur,

but from my perspective, anyway, I think of it as if someone has actually done something repeatedly over time and like got up, failed, got up again, tried it, created something. There has to be an amount of time put in to call yourself an entrepreneur or actually have grown or built a business to some extent. As opposed to just thinking entrepreneurly and being like, you know what, I can make money off of doing this thing and let's just see how it goes for a couple months or a year.

I don't think that should count. I mean, I think anybody who starts something, anyone who starts any sort of business venture, to me is an entrepreneur, I just don't think that they're good entrepreneurs. No, because it's not necessarily like, I don't, you could be, you could start a business and be running it for three months

and for that three month period, you are actually an entrepreneur. If you then go and start working for somebody else and you stop it, you're not really an entrepreneur. Right, you just tried something. You just tried it and you working for somebody else and you stop it, you're not really an entrepreneur. Right. You just tried something. You just tried anything. And you had an entrepreneurial idea and you did it. Okay. This is, I guess, where my brand is coming from. But wait, the coaches thing is really important. The course is really important because I think people who sell courses on how to be a good entrepreneur but have never really successfully started growing a business. That's psychotic. Well, no, I literally,

but it's also a really smart entrepreneurial thing to do because they're making a ton of It's a very blurry, blurry line, right? Because if you are doing, if you do have your own business, and you're very entrepreneurial and spirit, you're going to be able to do it. And you're going to be able to do it. And you're going to be able to do it. And you're going to be able to do it. And you're going to be able to do it. And you're going to be able to do it.

And you're going to be able to do it. And you're going to be able to do it. And you're going to be able to do it. And you're going to be able to do it. And you're going to be able to do it. I think is interesting. I do believe it's like a, it's a very blurry, blurry line, right? Because if you are doing, if you do have your own business and you're very entrepreneurial and spirit and then you create these courses and call yourself an entrepreneur and then you sell these things online,

I guess you're right, you are an entrepreneur. I guess my problem with it more than anything is that like any Tom Dick or Harry can do this online now and like create this illusion that they're really successful and they've done all these things. And like the only thing they've really done was you know, understand how internet marketing works and get people who don't know any better

to sign up for something and learn from somebody who quite frankly they don't even know what they're talking about. So I think that's really my problem is that people just jump on this bandwagon of what's sexy or trendy, a hashtaggy or whatever, and then that becomes the new thing. It's just, there's such, I guess,

what you're hearing right now is just total frustration with the masses that are on social media, just like touting, basically like self-promoting their abilities. That's where my problem comes to. It's a constantly self-promoting, their abilities of what they can teach you, what you can learn from them. Pay me this amount of money and you're going to get all your answers

and all your dreams are gonna be answered That's such the shit that drives me crazy like just you know click over here to this funnel And I'm gonna give you everything for free But just click this and then buy this for $199 and then go to this webinar for like I just feel everything is just like a racket Yeah, you know it's all in up is just like a racket. Yeah. You know? It's all an upsell. It's all an upsells, all a racket. So I guess technically, you are very entrepreneurial if you're doing it and doing it well, right? But at what point are you just a snake oil salesman?

Like, where's the difference? Where's the fine line between being a snake oil salesman? Because technically, you still are an entrepreneur. Well, your entrepreneur is just a scummy entrepreneur, which does exist. So then now that's it. So there's differences between like anyone can call them, anyone who starts a business can call themselves an entrepreneur. Well, your entrepreneur is just a scummy entrepreneur, which does exist. So it's like, there's differences between like anyone can call them, anyone who starts a business can call themselves an entrepreneur, but you have, but you need to have the discernment

to say, are they a good or bad entrepreneur? Are they a scummy entrepreneur? Are they smart entrepreneur? Like, what are the prefixes that go to entrepreneur? So this is, okay, I'm so glad I'm just, I'm talking this out and like saying this out loud because I think that is what the crux of it all is. I think it all goes under the umbrella of being an entrepreneur, but there are different types.

You could be a really successful one, a successful entrepreneur, you could be just someone who's like, you know, trying a lot of stuff but never really had success. You could be really good in one area, like an internet market or know how to like get money at a people and be a great salesman. You know, I think that's what it is. Well, I understand also your frustration because you actually are a successful

entrepreneur and people selling courses on entrepreneur that have never really done anything before or have a proven record is very frustrating. It's how I feel about people who sell podcast courses who've literally been producing for like five months and all of a sudden they're selling like, you know, courses for like $800. I'm like, what? I've actually purchased some of the podcast courses out there to see like what's going on in the competition. And some of them are awful.

And I can't believe people are paying. People pay like $5.99, $8.99. Some of them are 1,300 for these courses that are giving them information that's outdated. That's not really that great that you could find on YouTube for free in five seconds. Well, I don't think any of these core, I mean, listen, I shouldn't say it. I don't know.

Okay, I don't know. But what I would, I would imagine is that, you know, you could find anything online. You can Google anything, you can YouTube anything. So the question really becomes like, are you somebody who, what you're really paying for is convenience. You don't want to go through the hassle, I don't blame you, of researching and going through all the due diligence. So you're picking a package that someone's done for you.

And the problem is, like, if you don't know what you don't know. So if you're somebody who is someone who's interested in a certain area, and you see someone advertising it, because they have the wherewithal and the ability to know how to like advertise well, then you're gonna buy that course. Does it mean the information is great? it because they have the wherewithal and the ability to know how to like advertise well. Yeah, I'm pretty good. Then you're going to buy that course.

Does it mean the information is great? So this comes back, I feel like this podcast, not this particular episode, but I think the overarching message, one of them in this whole podcast that I do, Habits and Hussle, I feel like the same through lines are always coming up, which is like being discerning from who you get information from from who you get information from, who you get advice from. Like, discerning is so important, right? That's one of the through lines.

It's like, also, it's like, who do you wanna be? Like, what are you trying to accomplish and act accordingly, right? I think that's another through line, but I think the idea of having discerning and knowing who your outlets are, like who you're watching, who you're listening to, who your outlets are, who you're watching, who you're listening to, where you're like, what you're doing. Maybe I'm not the best person for you to listen to.

Maybe I'm talking out of my ass. Who knows? But I'm not selling anything right now. Maybe I should. Oh, yeah. But the reason it's important is because I'm very entrepreneurial. I am very entrepreneurial. But I think it's really important if you are going to buy something from somebody, like no, who you're buying it from.

Like don't just go buy a course on because some Yahoo tells you he's an entrepreneur and he's going to answer all your dreams and you're going to become like super successful by doing this, this, and this. Like look at their background. Most of the time these people are a bunch of Yahoo's. That's the problem. So I've been sleeping on these blissy pillowcases lately, and let me just tell you, I had no idea a pillowcase

could actually get me a better night's sleep. Blissy is amazing. They use a hundred percent mulberry silk. And if you're someone who tends to sweat or overheat while sleeping, blissy has your back. It's temperature regulating and insulating properties keep you cool all night.

So you won't be constantly waking up sweating or flipping your pillow round and around because I know you know what I'm talking about. But that's not all. It also is great for your hair. So there's no more frizz, hair breakage. It actually keeps the moisture in your hair. And it also keeps your skincare

products on your face, not on your pillow, because the silk does not absorb the moisture off of your face. So say goodbye to waking up with wrinkles, dryness, or redness, and just wake up healthier and happier with nicer skin and hair. These pillowcases are amazing. They're also hyperallergenic, so it's great if you have allergies. They're washable in the machine, durable. You've got to try them. The blissy silk pillowcases are the best silk pillowcases on the market bar none. So try now risk-free for 60 nights at blissy.com slash hustle and get an additional 30% off.

That's B-L-I-S-S-Y.com slash hustle and use the code hustle to get an additional 30% off. Sleep cooler, this fall with blissey. Fall is right around the corner and hello fresh is here to help you plan for the busy season ahead with the most tasty dishes delivered right to your door. Simply choose your recipes and pick your delivery date, then lay back and enjoy the last days of summer knowing dinner is covered. You've got places to be in standing in the checkout line is not one of them. Leave the meal planning and grocery shopping to HelloFresh with pre-portioned ingredients and easy step-by-step recipes delivered to your door.

You'll save so much time and cut out the hassle. I'm literally obsessed with the recipes they offer and the convenience that they bring. I'm telling you, it's been like a lifesaver in my life. It is just a relief to wake up and not stress about what to have for dinner. Go to hellofresh.com and use my code 50 hustle. I cannot stress it enough to get 50% off plus free shipping. You guys will thank me. I promise. It is so good. Enjoy. One thing I love doing is taking ideas and making them real. And that's

what this podcast is. And I couldn't do it without a ton of help from amazing people. So when I wanted to start selling online, I found the perfect business partner. And that was Shopify. Shopify is the commerce platform revolutionizing millions of businesses worldwide. Whether you are a garage entrepreneur or an IPO ready, Shopify is the only tool you need to start, run, and grow your business without the struggle. What I love about Shopify is how they've simplified everything. Their platform is incredibly user-friendly,

making it so easy for anyone to dive into the world of e-commerce, from setting up your online store, to managing products and interacting with customers, Shopify streamlines the entire process. Their intuitive interface, seamless integrations, and helpful resources make it so straight forward to create a professional online presence. And Shopify powers 10% of all e-commerce in the US and Shopify's truly a global force. Powering people like all birds, Rothies,

Brooklyn and millions of other entrepreneurs of every size across over 170 countries. Plus, Shopify's award-winning help is there to support your success every step of the way. This is Possibility Powered by Shopify. Sign up for a $1 per month trial period at Shopify.com slash hustle. That's all lowercase. Go to Shopify.com slash hustle to take your business to the next level. Again, shopify.com slash hustle. Pfft.

Also, it depends on what their marketing is. If they're promising you the dream life and everything, you have to kind of read between those lines. There's a slang, or not a slang, it's an acronym, I guess. DYOR means do your own research. And it was heavily used in NFT space because a lot of people would purchase projects without doing their full research.

They'd just see an influencer posted a project so they would buy it also. And then they'd get screwed, right? And that project would tank and it would actually be a fud which is just like a project that kind of goes to shit. And that would happen a lot. And so DYOR became a really big theme

and I think that's the big theme of your podcast is literally do your own research. Like don't just believe everything, you know? Don't believe it. Look into it. And yeah, exactly. But I think also it's just about the fact that like I get so worked up when every day there's another like crop of entrepreneurs, self-help gurus, people who are experts, who

like aren't. They're just not. Wait, I have a question for you. How much do you think Shark Tank has had an impact on this kind of thing? So the next thing I had written down and that I didn't even get into because I'm on my rant right now is I think it was,

it was like the evolution and the popularity of Shark Tank that like it made everyone feel like, oh, I can do that. And listen, I think it's amazing. Don't get me wrong. I think if you have a great idea and like you stick to it and you actually are building something successful or not, you're an entrepreneur.

I'm all for that. What I don't love is when people try to take advantage of other people's like naivety, right? And just like unknowing and you know, take them for a bunch of money from someone. That's a charlatan. You're a charlatan then. You're a snake oil salesman someone that's a charlatan you're a charlatan Then you're snake oil salesman you're a charlatan. You have no business doing it. You know

There's enough real people out there that you can learn from Versed that you don't have to settle for these you know these charlatans who are selling you the moon and the sun And everything else in between but you have to be able to do your own research and have discernment because that's what social media is becoming and it's becoming more and more that every single day. I used to see only fitness stuff, for example. Maybe my algorithm has changed now a lot.

But I do believe that what's become who are becoming celebrities, who are becoming famous, who are becoming like Insta-famous or social media famous are people who are these big motivational gurus and entrepreneurs who are just completely just like behind the scenes a total Yahoo. I think it's hard for people who are not. I feel like if you live in L.A. you know that, right? Like because you're so exposed to this kind of BS and you're exposed to behind the scenes, you watch people taking their Instagram photos, you know what they look like in person. Like you're more aware, I feel like it's really hard when people are disconnected

from this world to be able to discern between, you know, who is that, who is this. And I completely agree. And I feel like for you, it's so frustrating because you're surrounded by all these people who are doing that, you know. And you can see the behind the scenes of all this stuff. And you're like, damn, there's so many people who are just really praying on people. But I think if you just anybody can, I don't think it's only because in LA, I think now anybody can be anywhere

and they're social media famous and they can do whatever. Like a lot of these people, by the way, live the thing in. I mean, if you grow up in LA or you live in LA, you see the behind the scenes so you're more able to discern it. I understand.

I guess my point in general overall is that I think anybody who just takes a moment and questions a little bit and like, hmm, what is this? Or like just does a little bit, you know, background? I think you'd be surprised. But I think we've done other episodes on that. I think it's just really more about the idea that like really what does, what is is an entrepreneur like really what is the definition versus being just entrepreneurial and spirit there is I think a huge

distinction. And you know, is that like a amount of time that you have to sustain something or build something. I really think if someone is persistent and resourceful over a long period of time and stays and sticks with something over and over again regardless of the success. You really are an entrepreneur and you want something and you are, you've grit and you try over and over again. But just by creating something and throwing a lot of money on advertising and selling a program doesn't make you an entrepreneur. And it sure is how does it make you a great expert to teach entrepreneurial skills. Like, that to me is like a joke. That's it.

Hope you enjoyed this episode. I'm Heather Monahan, host of Creating Confidence, a part of the YAP Media Network, the number one business and self-improvement podcast network. Okay, so I want to tell you a little bit about my show. We are all about elevating your confidence to its highest level ever and taking your business right there with you. Don't believe me, I'm gonna go ahead and share some of the reviews of the show so you can believe my listeners. I have been a longtime fan of Heather's

no matter what phase of life I find myself in, Heather seems to always have the perfect gems of wisdom that not only inspire, but motivate me into action. Her experience and personality are unmatched, and I love her go-getter attitude. This show has become a staple in my life. I recommend it to anyone looking to elevate their confidence and reach that next level.

Thank you! I recently got to hear Heather at a live podcast taping with her and Tracy Hayes, and I immediately subscribe to this podcast. It has not disappointed, and I cannot wait to listen to as many as I can, as quick as I can. Thank you Heather for helping us build confidence

and bring so much value to the space. If you are looking to up your confidence level, click creating confidence now. This episode is brought to you by the Yap Media Podcast Network. I'm Holla Taha, CEO of the award-winning Digital Media Empire Yap Media, and host of YAP Young & Profiting podcast, a number one entrepreneurship and self-improvement podcast where you can listen,

learn, and profit. On Young & Profiting podcast, I interview the brightest minds in the world, and I turn their wisdom into actionable advice that you can use in your daily life. Each week, we dive into a new topic like the art of side hustles, how to level up your influence and persuasion and goal setting. I interview A-List guests on Young and Profiting. I've got the best guests. Like the world's number one negotiation expert, Chris Voss, Shark Damon John, serial entrepreneurs Alex and Leila Hermosi, and even movie stars like Matthew McConaughey. There's absolutely no fluff on my podcast and that's on purpose.

Every episode is jam packed with advice that's going to push your life forward. I do my research, I get straight to the point, and I take things really seriously, which is why I'm known as the podcast princess and how I became one of the top podcasters in the world in less than five years. Young and profiting podcasts is for all ages. Don't let the name fool you. It's an advanced show. As long as you want to learn and level up,

you will be forever young. So join podcast royalty and subscribe to Young and Profiting Podcast. Or, yeah, like it's often called by my app fam. On Apple Spotify, Cast Box, or wherever you listen to your podcasts.