Fri, Jan 22, 2021 12:36 PM

How is entrepreneurship different from business?

1. The definition of success

This, indeed, is one of the main contrasts of these two sections. You will often find businessmen defining success very different from how entrepreneurs do. The businessmen define their success as the success of their business and their stakeholders. On the other side, entrepreneurs don't define the success. They simply do their job and let the history defines it accordingly to what they have accomplished.

2. The focus

Similarly to the mentioned before, the businessmen and the entrepreneurs are different because of their mindsets. Entrepreneurs often try to imagine the things' evolution in the future while the businessmen focus on small improvements. Simply put, businessmen's focus is minimal predictable risks, profit, and smaller rewards. Diversely, entrepreneurs focus on benefits and value, potentially higher rewards, visual thinking and long-term results.

3. The Competition

When it comes to the competitors, businessmen always try to beat each other. Entrepreneurs see competition only in the mirror. That's their only struggle, and the people they are trying to beat are themselves.

4. The perception of time

Dealing with time is a consuming job. Not everyone is successful in managing their own. So, in the business field is no different. The businessmen don't waste time. They see opportunities where others might not. Businessmen are often very vibrant and fast people, always on the go. Entrepreneurs, for a comparison, take their time as if they are artists. Every time they do is a masterpiece. They are willing to spend more time than planned on a project, for the sake of it looking flawless and perfect.

5. Relationship with the team

This is probably one of the most obvious differences between businessmen and entrepreneurs. A businessman is an owner. He is a boss, employer, and a manager. He is always on the top of the hierarchies pyramid. The businessmen hire employees and they treat them like so. Entrepreneurs are friends with their team. An entrepreneur is a leader. He has team members, not employees. Entrepreneurs grow together with their team. Not individually.

6. Customers

Every business owner cares about his customers. The reason behind it is because he perceives them as a source of revenues and of course, sales. For every businessman, the customers are the lifeblood of the business. This is not the case for the entrepreneurs. Entrepreneurs do care about their customers as well but don't identify them as a source of money yet fulfillment and duty. For an entrepreneur, the customers are his own lifeblood, not his business's.

7. Money

Money is essential and one of the main differences. You will hardly ever meet a businessman ready to take a crazy risk. But you will more often see a businessman smartly studying the economy, analyzing every bit of it so he can know when is the best time to start and operate a business. On the other hand, there are entrepreneurs that don't worry about the money at all. Most of them start from scratch and build their way up.

8. The idea

Last but not least, the central point - The idea. I am not talking about the idea in general but the originality of it. Businessmen are often quite unoriginal with their business idea or product. They frequently enter into existing businesses, choosing profitable ideas regardless of whether the idea is original or borrowed.

Entrepreneurs don't do that. An entrepreneur is a very creative individual. He is an inventor and the first designer of a product. Entrepreneurs invest a lot of time, energy and money into creating their own original and unique idea. That's the reason why businessmen start a business while entrepreneurs start on a startup.

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