There’s been a wide misconception about ENTREPRENEURSHIP and BUSINESS. While these two undertakings bear rich similarities, but they are poles apart from each other putting a differentiating line between the one who calls himself an ENTREPRENEUR and the other who calls himself a BUSINESSMAN.
Who is BUSINESSMAN?
A businessman can be looked at as an intelligent fellow who has studied and mastered the art of his chosen line of business, thus being well-positioned to clone that business impressively and profitably. A businessman is a good student who devotes all his time to reading and understanding his textbooks and inevitably emerging the best in the class every single school session. Sounds good, right?
Now, let’s look at who an ENTREPRENEUR is.
An entrepreneur is an intelligent fellow as well. But he doesn’t look at studying, mastering, and successfully cloning an already existing business for the purpose of profit making. Unlike a businessman, an entrepreneur could be a dumb freaky student who takes pleasure in writing seemingly abstract books than devoting all his time to reading textbooks.
He could fail a couple of exams or pass on the average. But his abstract writings remain a soon-to-actualize reality that has the capacity to engage a lot of good students (businessmen). How does that sound?
An entrepreneur’s journey starts with an innovative idea while a businessman’s journey starts with a survey of his chosen line of business.
When it comes to entrepreneurship and business, there are a couple of distinguishing factors, five of which include;
A businessman looks out for marketable business ideas. He doesn’t get involved in ventures with no certain outcomes. Simply put, a businessman plays along with the market, thus his position as the MARKET PLAYER. But an entrepreneur has the “pacesetter” mindset which makes him journey through winding roads to get to the top. He doesn’t play along like the businessman. He leads the way, thus his position as the MARKET LEADER.
Businessmen are not much risk-oriented like entrepreneurs. While an entrepreneur is a risk taker; more than willing to go all out and actualize one innovative idea, a businessman only plays on familiar grounds. As it has to do with risk taking, a businessman is CALCULATIVE while an entrepreneur is INTUITIVE.
A careful comparison of a businessman’s company to an entrepreneur’s company reveals the different manners with which business is approached. For a businessman, his ultimate goal is to grow his business at all cost, survive the market, and bench his competitors. But an entrepreneur yearns to better the world, thus his primary goal of instituting his solution on the markets. So, we can say that the businessman’s approach is HOLISTIC while an entrepreneur’s approach is ATOMISTIC.
Businessmen are so concerned about profit that they turn their employees to travel companions and use them exclusively for revenue generation. But an entrepreneur sees his employees as his dear friends and sees that they grow along with the business.
Businessmen aim PROFIT. Entrepreneurs build PEOPLE.
A businessman’s mind is filled with thoughts of how to outshine his competitors. But an entrepreneur is more concerned about working together with his employees to device means of improving his products and services. A businessman’s sense of competition is VERY HIGH. But that of an entrepreneur is LOW.
A businessman is simply a businessman and nothing more. But an entrepreneur is an organized risk taker and a good manager. Unlike the businessman who centers on competition, an entrepreneur focuses on good management and teamwork.
So, a businessman is far from being an entrepreneur, given these outlined differences. However, one can hardly be said to be better than the other, as it depends on which option best soothes an individual’s personality.