The difference between a business person and an entrepreneur

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Often the terms are used interchangeably, but it is important to note that there is a difference between the two.  A businessman/woman is not the same as an entrepreneur. Here a list of the fundamental differences between the two.

1.The originality of the business concept or idea.

A businessperson usually makes a business out of an existing idea.  They are not concerned with introducing an original idea. An entrepreneur is concerned with innovation and originality.  An entrepreneur starts a business from an original idea.

2.The purpose of starting the business.

Most businesswomen/men start a business with one goal in mind and that is profit. An entrepreneur starts a business with two main goals a) to make a profit and b) to change the world.

3.The amount of risk that is taken.

Businesswomen/men take more calculated risks and therefore they are more unlikely to take on business models that carry a lot of risks. Entrepreneurs, on the other hand, are more susceptible to take risks.

4.On the way they treat employees.

Business owners are managers of their employees. They hire people with the vision of expanding their business. Entrepreneurs hire people who become extensions of themselves. The vision of an entrepreneur is to help their team grow and also learn from their team. They will not use them as machines.

5.On how they treat customers.

Business owners see their customers purely as a source of sales and revenue. For an entrepreneur they see, customers as a source of duty and fulfillment.

6.On the way they view competition.

This one may surprise you, business owners often want to collaborate with competition in order to avoid things such as price wars etc.… Entrepreneurs, on the other hand, are very competitive people who will not stop until they are the very best at what they do.

7.On the way they deal with time.

A business owner works on a rigid schedule, making sure everything is in accordance with it. An entrepreneur works like an artist. Their product is their masterpiece. There is no schedule when creating art. That is why their work around a product may appear inconsistent. Working intensely then slowing down and then going back.

8.On how the view the world

A business owner sees the world as an opportunity and an entrepreneur sees the world as a duty rather than an opportunity. Remember, entrepreneurs believe that they can change the world.

9.The way that they define success.

Business owners evaluate their success against their stakeholders, investors, their sales, and profit margin. An entrepreneur, however, literally leaves history to determine their success. For them, it is about what legacy they leave behind.

10.A perfect example of the differences.

Bill Gates v Steve Jobs. Both brilliant in their own right. Bill Gates, a businessman, is the richest man in the world. Steve Jos on the other hand, an entrepreneur, built the richest company in the world.

Even though I myself am definitely an entrepreneur, I don’t think any one of the two is better than the other. In fact, I believe that a great partnership consists of both an entrepreneur and a businesswoman/man.

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