Quite often, you will find people mistake an entrepreneur with a business owner simply because they think being a business owner is the same thing as an entrepreneur. Now, if You are at a crossroad of your financial life, you may appreciate learning about these commonly interchanged subjects as well as discovering the possible differences before making a final decision.
Here are the basic features of an entrepreneur.
• An Entrepreneur is a Creator.
An entrepreneur is an inventor; he/she is conscious of creating something from something. An entrepreneur orchestrates and innovates other resources, talents, goods, Manpower to create his/her vision and dreams. They are creative thinkers and never miss a chance.
• An Entrepreneur is Multitalented.
Since he/she is an inventor and sees possibilities in every opportunity, his/her business constantly grows and expands. They believe in consistency but not in stagnation; their business is commonly known to evolve into bigger businesses as they maximize every opportunity and relationship. An entrepreneur pursues business from different sources and stays committed to making all of them work.
• An Entrepreneur is Opportunity Oriented.
How they become multitalented is because they see a big business is every opportunity. They are chance takers and are sensitive to every business opening; thus, bringing more businesses to fore.
• They are Skilled.
This doesn’t imply that the business owners are not skilled; but, the chances of business owners knowing more than the trade he/she is venturing are pretty slim. But the entrepreneur as you were earlier told, is skilled with lots of experience from his multiple streams of income and is versed in the infrastructure that will make every business work.
Let’s just say; he knows the “blueprint” or the “formula” that makes every business works. He/she also knows just who, where, and what to use to make the opportunities come alive. They are hardly discouraged even when the beginning looks a little bleak because they have the experience.
• They know How to Multiply Output.
Input and output are the regular vocabularies of business owners, and it is often predicted before they arrive. This is because the business owner is acquainted with the ongoing nature of the business and knows what to expect. Should any change or improvement occur on the output, it may be minimal and inconsistent. But, for the entrepreneur, he/she knows how to maximize and multiply his/her output to multiple businesses and keep them all running. The entrepreneur’s mindset is not satisfied with one static business; instead, they are constantly growing and attracting investors.
• They Attract Investors.
Thanks to the consistent growth and reputation of entrepreneurial ventures, everyone is interested in buying shares off them. With these shares, their businesses expand, and they continue to birth new business. You may wonder if they hardly fall or make mistakes, right? The answer is, “yes” they do make mistakes, but hardly remain fallen. They understand that every “mistake” is probably an experiment that is awaiting solutions, and those solutions are likely the features of the next big business.
Now, let us look at what the business owner has
• They Have a Module and Operate by It.
The business owner adopts a well-tested system and runs it consistently like the entrepreneur; but, he/she will not take the risk of venturing into another stream. Yes, he/she sees most opportunity as risks not worth taking but would rather stick to what they know. The result of this is the same output because of the same system and input. The chances of growth are minimal, and if it happens, it may not be consistent, as you would rightly guess.
• Business Owners Utilize Manual Labor.
Business owners are skilled with the labor that every trade or enterprise entails, and the success of every day depends on the amount of labor imputed. On the contrary, entrepreneurship basks in teamwork, relationship, and affiliations to excel. They do not require tedious labor to see beyond the sky because they have the mentors; instead, they enjoy the referral marketing, leveraging other companies, and every exposure designed to help the entrepreneur grow.
• The Business Owner’s Certificate is of Less Help.
Expectedly, many business owners must have been schooled in business colleges and have graduated with honors. The certificates come with the structure of how a business should be run and don’t contain practical hacks on business mentoring. This aspect is where the entrepreneur thrives more thanks to the ever-increasing relationships and mentoring, he/she receives that makes him/her almost formidable in the business world. Unfortunately, this sort of experience doesn’t come with the business school’s certificate; therefore, the business owner knows little about the resiliency and purposefulness in the mind of the entrepreneur.
Summarily, you can take home the ideas that business owners seem to be more profit-oriented as they diligently labor within their established business structure. However, the entrepreneur is not ultimately aiming at a profit; instead, he aims at making a difference with the way businesses can be practiced away from the conventional style. You can also add that entrepreneurs seem more ambitious than business owners. Their minds are constantly pulsating on for the next big bang and not the religious output from the input.
