Why aren’t all businessmen and businesswomen considered to be entrepreneurs? Entrepreneurship is basically about owning a business and many don’t understand why they would need to differentiate a businessperson from an entrepreneur. The truth is that there are some subtle differences that can change things quite a bit and that you need to understand where both of these professionals are coming from. Keep reading to learn about running a business vs. being an entrepreneur.
Running a Business Is About Stability
Stability is quite important when you’re running a business and a businessperson is going to try to approach things logically. You won’t find businessmen or businesswomen taking on risks that are too big. They want to minimize risk and figure out how to make a business profitable. The primary motivation for businessmen and businesswomen is to grow wealth and keep a company going long-term.
This can mean that a businessperson will be less focused on doing new things than they are figuring out how to profit on tried-and-true ideas. It’s a safe and sometimes boring approach to the concept of business but it does lead to good results more often than not. These types of businesses have a lower ceiling than the types of businesses that entrepreneurs run, though. It’s simply more likely that a businessperson will find success quickly with a safe strategy such as this.
Entrepreneurship Is About Innovation
Entrepreneurship is about innovation and bringing new concepts to the market. Most entrepreneurs are going to have big ideas that they will want to make come to life. This means that they will be willing to take more risk when compared to a standard business person. They might not care so much about profits since they are focused on bringing about real change in whatever industry they’re operating in.
Of course, the bigger risk that entrepreneurs are taking can lead to greater rewards if things work out well. It’s just that profits aren’t the driving force behind what entrepreneurs are doing. They want to turn their dreams into reality and help people with the products or services that they have created. Entrepreneurs can do this by coming up with new business ideas or they can iterate on old business ideas in significant ways.