“What am I? Am I an entrepreneur? Or am I a businessperson? I cannot be both, can I? There must be some difference between a businessperson and an entrepreneur. Who can really help me differentiate between the two?”
In case these are the questions running through your mind at the moment, then TALWORK is the right website for you right now. Many find themselves in this difficult situation when they start a business venture of their own, not knowing whether they are entrepreneurs or businessperson.
Business people and entrepreneurs have many undeniable similarities:
- They both provide jobs for the unemployed.
- They help in the development of a nation's economy
- They give solutions to consumers.
Just to mention a few.
However, they are not the same kind of people. They have some distinct and clear differences. Let us outline some of them.
The originality of the ideas.
The entrepreneur always starts with a fresh and new idea. He would not even start if the idea has already been taken. An entrepreneur is an inventor and the first creator of a product. He invests time, energy and money on his own idea. He doesn’t start a business from an unoriginal idea.
A businessperson may or may not have one’s own idea. He thinks of money and profits which is why it will not really matter to him if the idea is already out there. He enters into existing businesses, such as franchising and retailing. He chooses a hot and profitable business idea regardless of whether it is his original idea or copied from someone else.
The purpose of doing.
Most businessmen are doing business for profit, livelihood, reaching their set financial goals and becoming their own boss. Though there are some business people who are not profit-oriented but people-oriented, that is, they are more concerned about the welfare of their workers and the satisfaction of their customers.
Entrepreneurs are more concerned with changing the world. They want to pursue their passion and achieve an ultimate goal. They are not keen on financial returns, rather they are focused on what they can offer to the world. Their purpose for entrepreneurship is simply to make a difference in this world, however small or big.
The decision on the degree of risks taken.
Businessmen take calculated and managed risks. They cannot afford to lose money and suffer from bankruptcy. That is why they always do the Math when it comes to business. A businessperson would usually think hundreds and one time before getting to any decision. Businessmen take well-calculated risks. One may not venture into the business and take the risk if losing money has been predicted.
Entrepreneurs are like skydivers. They take crazy risks. They often don’t care about losing time and money just to pursue their passion with a ruthless focus. But since they do it with love, joy and passion, they often gain extraordinary rewards. Since entrepreneurs do the things they love the most, they do it with the best of themselves, resulting in even greater success.
Their definition of success.
Entrepreneurship is all about striving through thick and thin to get one’s vision to come true. Quite a number of startups have come up with many revolutionary ideas over the years. Of course, there’s no denying the fact that entrepreneurs love to make money, too. However, it’s a business generated out of one’s profound faith in one’s ‘out of the box’ thinking. Most importantly, entrepreneurs are believed to always have something better and new to offer. They aim to revolutionize the lives of many.
However, this doesn’t hold water for a regular business as it is totally profit oriented. In many cases, businessmen even overlook the quality of their services or products as they desperately look for ways to earn more profits. Success in a regular business, nowadays, is certainly beating the competitors and getting on the top of the rest in the same line of business. Of course, there’s no denying the fact that there are many regular businesses that have been delivering at their best over the years.
How they treat employees.
The boss and the leader.
For an entrepreneur, his co-workers are his business partners. He would even take part in the active processes of his organization to lead his team. This eventually motivates his co-workers and improves their productivity to a commendable extent. It also serves as a way for an entrepreneur to consistently keep up with the performance of his organization.
On the other hand, a businessperson sees every person working under him as a worker and him as the boss. He may not always keep up with the performance of his organization as there’s a pretty thin line between visualizing things from going through reports and experiencing things personally.