Get All Access for $5/mo

Fakepreneurs, a Modern Epidemic Encountered anyone in this category lately? Learn how to tell if someone is a genuine entrepreneur.

By Kelsey Ramsden Edited by Dan Bova

Opinions expressed by Entrepreneur contributors are their own.

With entrepreneurship being the sexiest profession going these days, a lot of people are wanting to get into the club. Saying you're an entrepreneur has as much social cachet as mentioning you attend med school has.

Beyond the esteem, there's a similarity in the fact that no one actually knows if you will become a successful entrepreneur -- just as no one knows if you will graduate and become a doctor. But few people go around spreading doubt that a med student will graduate.

Yet most people doubt the success of an entrepreneur.

There's almost no way to fake your way into med school but there are plenty of fakepreneurs.

Here's how to tell the difference between a fakepreneur and an entrepreneur:

Related: The Real Person's Guide to Finding Your Passion and Loving What You Do

You might think it has to do with how much is in the bank: You're wrong.

Being an entrepreneur is about being someone who organizes and operates a business or businesses, taking on greater than normal financial risk to do so.

Almost all successful entrepreneurs will tell you a story of when they had no money in the bank. Success is a function of a moment in time. Some have claimed that success is not final and failure not fatal but it's courage that's crucial.

You might be thinking that true entrepreneurship has to do with how much staff someone has. Wrong again.

There's the starting of Facebook. Probably most people would agree that Mark Zuckerberg was an entrepreneur before he hired a member of staff.

You might think you can discern the truth in a stunning paperweight filled with business cards, the square footage of an office or the dazzle of a corporate website. Again, incorrect.

All these things are part of a show that can be bought by anyone. They do not give clarity to the differentiation between fakepreneur and real entrepreneur.

Related: 5 Ways Entrepreneurs Learn to Manage Risk

Some might even say that if you have a day job, you're not a real entrepreneur and I disagree with this, too. Risk is relative and paying rent is responsible. To me, someone with bills to pay and mouths to feed who keeps a day job while hustling to create a new venture on the side is as much an entrepreneur as the next guy. He or she just likely has some responsibilities or a different risk profile.

The real difference is the effort and the integrity of the intention to start something, adapt, sell, succeed, fail, pivot, get knocked down and rise up. The difference lies in the why behind the actions.

Are you seeking to select a title or solve a problem?

The truth in being an entrepreneur lies in the actions and problem solving a person does.

Related: With Social Media, Fakes Are a Real Problem for Your Business

Kelsey Ramsden

CEO of Mind Cure Health

Kelsey is the President & CEO of life sciences company Mind Cure Health Inc., where she leads an innovative team providing psychedelic-assisted therapies. She has built multiple 8-figure businesses from the ground up and has twice been named Canada’s Top Female Entrepreneur

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

The Side Hustle He Started in His College Apartment Turned Into a $70,000-a-Month Income Stream — Then Earned Nearly $2 Million Last Year

Kyle Morrand and his college roommates loved playing retro video games — and the pastime would help launch his career.

Business News

A Former Corporate Lawyer Now Makes Six Figures on YouTube — Here's How She Does It

Here are the secrets to starting and growing a successful YouTube channel, according to a YouTuber with millions of subscribers.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Growing a Business

How to Determine The Ideal Length of Your Marketing Emails Your Customers Will Actually Read

Wondering how long your marketing emails should be? Here's what consumers say — so you can send them exactly what they like.

Business News

Y Combinator Helped Launch Reddit, Airbnb and Dropbox. Here's What I Learned From Its Free Startup School.

The famed startup accelerator offers a free course on building a business — and answers five pressing questions for founders.