This article will help you learn the differences between a businessman and an entrepreneur and understand the way of thinking between them.
Entrepreneur & Businessman characteristics
By understanding the differences between a businessman and an entrepreneur, you will able to figure out what is right for you.
What is a businessman?
The one who creates business based on an already existing business model. Such as opening a coffee shop or bar in a new place.
What is an entrepreneur?
Entrepreneurs show a great interest in new ideas. Just like a businessman, they will start a business, but with new simple solutions which can be more active in solving business problems. Also, they will make sure that new methods also yield a better profit.
To be simply put, a businessman does the same thing over and over again. But entrepreneurs will go for new ideas, like thinking out of the box to solve business problems and make twice as much profit while others.
A business person often will be a market player, For example. Let's assume you are a businessman, and you own multiple coffee shops in a small town, so here you will be one of the top businesses among other players in the city. But only an entrepreneur will be a market leader because they will create a market for something that did not exist before.
To understand more clearly, imagine an India without Swiggy or Zomato. These two businesses made food delivery possible all over India. But how you think? They were just startups by entrepreneurs who solved a daily day problem by creating effective exclusive food delivery platforms. So now they have become the market leaders.
Businessman & Entrepreneur Nature
A business person will always be calculative, will be focused on turning up more time profits from the investments.
Entrepreneurs are more like to go with their instincts. They will be willing to bigger risks than a businessman.
A businessman more often settles with traditional methods to run their businesses. But entrepreneurs avoid conventional methods at all costs. They will always be interested in implementing modern methods.
Entrepreneurs will have to create new workflows for their business and overcome any other challenges they have to face.
A business person will always be profit-oriented. But an entrepreneur will forever remain people-oriented. For example, a businessman hires only people who have more experience. But an entrepreneur only employs like-minded people that they believe.
A businessman always faces massive competition in the market because of a proven business model or the same type of business started by other people. It is hard to sustain your business when you have too many competitions.
Just like we have seen before, entrepreneurs are creating their market, and when it comes to the new idea, there will not be much support or trust from people unless the business idea works. But when compared to a businessman, an entrepreneur has a significant advantage of no competition or less.
Businesses use technology that is already often used. But entrepreneurs would want innovative things in everything they want to build. So most entrepreneurs will learn to use new technologies as soon as they become available.
People like Jack Ma, Jeff Bezos, Larry Page, Bansal brothers from India were once entrepreneurs, they inspired and created something when other people did not believe in it. When entrepreneurs achieve their vision, some prefer to sell their company to someone else, and they move on to new ideas and startups. I hope this article helped you to learn some facts.
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