What is the difference between an Entrepreneur and a Business owner?
Please don’t mix it up between entrepreneurs and business owners, and these are entirely two different things. According to the Oxford Dictionary, an entrepreneur is “a person who organizes and operates a business or businesses, taking on greater than normal financial risks to do so.” A business owner is defined as “an individual or entity who owns a business entity in an attempt to profit from the successful operation of the company
Most people confuse, some believed that if they own a business, they are an entrepreneur. Then out there, we have plenty of entrepreneurs who own barbershops, who own fashion shops, or tea shops — sounds good? Become an entrepreneur seems easy.
Is that easy?
An entrepreneur is the one who arranges people’s money, resources, talent, time to make his or her vision real. And the business owner is a person who runs, manages, and responsible for their business; they might have some staff help them to maintain it — according to Dan Lok.
Then, what is the real difference?
The mission of entrepreneurs different from business owners. The business owners will tend to make more profits with a certain amount of money and get as many profits as possible. They almost do the same thing for an extended period. It does not mean entrepreneurs don’t make profits, make profits, and help others succeed with their business — this is an outstanding trait of entrepreneurs.
Business owners tend to focus on personal benefits rather than build- up others’ success. However, entrepreneurs are demonstrating along with different aspects, goals, and people to maximize output with less input. Sometimes we could see an entrepreneur as a mentor, or an investor, or a financial consultant. The entrepreneur’s mission is unstable, and they are “multi-task” in an efficient way.
“Entrepreneurs are opportunities-oriented” — Dan Lok. They are pursuing different opportunities. In other words, entrepreneurs are involved in various business systems, corporations, sectors, and industry and they make it successful and then apply those elements such as skill-set, mindset, experiences to make others’ business work well. They create opportunities and catch opportunities.
Business owners have a great idea. They target their audience. They set up marketing plans, run their business, solve community problems, and excellent customer service. However, entrepreneurs have big ideas. They dream big and think big. As I mentioned above, entrepreneurs are involved in plenty of fields, and they can push up business.
Entrepreneurs have good judgment skills. They make correct decisions, it doesn’t mean they don’t make mistakes, but in the overall and long term, they make better decisions than most. An entrepreneur could raise money, could attract investors, they can scale businesses to keep multiplying output. The fact is entrepreneurs can take input one, but they able to maximize your production in the marketplace.
Everyone can tell you the risk. An entrepreneur can see the reward — Robert Kiyosaki
Which one do you desire to become in the future? An entrepreneur or a business owner? Let me know in the comment below.
