Nowadays, small businesses are thriving in a market that is dominated by big businesses.
These small businesses are the source of many jobs, introduce new ways in doing things and keep money steady. If these businesses were not there, the economy would be in turmoil. Even freelancing is considered doing your own business.
Many people often confuse businessmen to entrepreneurs because entrepreneurs can also have a small business.
So, what exactly is the difference between a businessman and an entrepreneur?
When it comes to ideas, businessmen think on a smaller scale. They are aware of what their target audience wants, they know what they are selling and they know what makes the people happy.
Entrepreneurs have higher aspirations. They have ideas which have not been tested yet and they want to be the first ones to pioneer it. Sometimes, their ideas are a little over the top, but they are excited to see what is possible.
The purpose of doing
If you ask businessmen why they are doing their business, they will say they are in business because it is their livelihood. They are also in business to reach a goal and be the boss of their own time and work.
Some businessmen are in the business because they want to make their customers happy and help their workers in life.
Entrepreneurs are innovators. They want to introduce something that will change how things are done no matter what, even if they have financial losses in the process. They are also doing their business because they want to introduce passion and pursue it.
Businessmen are very careful when it comes to the ventures they do. If they make a risky venture, they may end up bankrupt and ruin the business completely.
Entrepreneurs will go full speed ahead to any venture. They are not worried that they may lose money. They do things because they want to do it and whatever milestone they experience, it is a reward they will truly cherish.
When it comes to exponential growth, businessmen are not too keen on expanding their business as they grow. They also are not interested in selling off the franchise of the business unless they will be selling it to the family.
For entrepreneurs, they will grow and grow to match the market. They will also make sure that the business runs even without their direct attention to it.
Definition of Success
When you ask a businessman about their definition of success, they would say it is the success of the business and the people who are involved with it.
For entrepreneurs, they do not have a definition of success. They just do their venture because they want to do it. They will let others determine if they have succeeded and if they have accomplished something.
Businessmen and entrepreneurs are very important to any country’s economy. On the one hand, they may look like they are similar and they share the same ideals. However, their goals and motives are completely different.
But, one thing is absolutely certain, they are the people we should turn to if we need something.
For more entrepreneurship stories, here they are:
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