Many of us think that there are no differences between a businessman and an entrepreneur. Though it is true that there are a number of similarities between them, there are some differences also. Let us have a look.
An entrepreneur comes out with an original idea but a businessman does not
An entrepreneur invents an idea or creates a new product. On the other hand, a businessman borrows ideas from others, uses them and builds his business. A businessman may also enter an existing business. For example, he may take up businesses such as retailing or franchising.
Entrepreneurs are passionate about their business, but businessmen do their business for making profits.
Entrepreneurs have a passion and they do their business with an aim to bring about changes in the world. On the contrary, most of the businessmen carry out their business operations for earning profits or for keeping their workers happy.
The risks taken by entrepreneurs and businessmen are different.
Entrepreneurs go all out for achieving their aim. They take risks that others may consider crazy. But businessmen take only calculated risks. They do their math before taking any risk, which means that only if they think that the risk is worth taking, they will take it.
The ways entrepreneurs treat their employees are different from how businessmen treat them.
An entrepreneur chooses only those employees who can work like his peers. In fact, he treats them as his peers and friends. He helps the employees and therefore it helps him, so everyone can achieve their respective aims. On the other hand, a businessman behaves like an employer. His aim is to grow his business with the help of his employees.
The ways an entrepreneur treats his customers are different from how a businessman treats them.
An entrepreneur considers his customers as a great source that can help him in translating his dream and passion into a reality. On the contrary, a businessman thinks that customers are those who bring in profits by purchasing the items or services he offers.
How an entrepreneur views competition is different from how a businessman views it.
A businessman can be ruthless while trying to out-smart his competitors for capturing the market. He may even opt to cooperate with his competitors for achieving his own goals. But an entrepreneur tries to better himself because he is his own competitor. A genius business mind Sebastian Greenwood once quoted Ayn Rand saying “A creative man is motivated by the desire to achieve, not by the desire to beat others”.
What is money for an entrepreneur and a businessman?
A businessman hates to lose money. In fact, most of the business owners will check if the economic environment is good before launching his products or services and only after making sure that he will not lose his money, he takes the plunge. An entrepreneur is just the opposite. He does not mind losing money for pursuing his passion.
An entrepreneur’s view about time management is different from that of a business owner.
A businessman never wastes his time because he knows that if he squanders his time, he might lose those opportunities that may earn him profits. But an entrepreneur is more like an artist who enjoys his work. So, he may appear to be slow because like an artist who produces masterpieces, his output will be incredibly superb. An entrepreneur believes in the words of Sam Levenson who said, “Don’t watch the clock; do what it does. Keep going”.
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