For many the words “businessman” and “entrepreneur” are interchangeable. Some may believe that because companies are created by both characters that they must do the same thing or have the same qualities but this is far from reality.
Looking through the scope of the world of commerce there are two main players: the businessman and entrepreneur. To know the difference between the two can aid you in realizing your strengths and where to build on your weaknesses. Here are a couple differences between the two:
Let’s start off with simply creating or starting an organization
The businessman sees occurring trends of the market like Thai rolled ice cream or e-commerce sites and creates one on the fly to become a market player. A businessman capitalizes on safer trends that are known to be profitable.
The entrepreneur paves his own road. He may potentially disrupt a market with this creation and is at the head of his respected field. Compared to the market playing businessman, the entrepreneur is a market leader. An entrepreneur is more interested in manifesting his or her paper drawn sketch to a real life product.
How a company is run by the two
Because the businessman tends to start their businesses with ideas that already exist, the safety of the venture is pretty reliable. Going with the notion of reliability, a businessman is focused on reliable earnings as well. Inventory is frequently managed and profit is the motive and losing revenue is the main thing to avoid. Employees will work for the owner and everyone is aware of the responsibilities they hold. The businessman’s responsibility in this web is to be the manager and make things more efficient and cost effective.
An entrepreneur begins from the ground up and not knowing where their passion will take them. Entrepreneurs are daredevils, the risk they take are costly and time consuming but with such big risks come big rewards. Entrepreneurs will use funds to do more, create more and work more to meet the desired goal. The goal is to make something that can potentially change a market or field. An entrepreneur surrounds himself with peers and has a friendlier, more casual relationship with his employees. They are willing to help them grow as much as their business.
The business world would not survive without one of these roles. Businessmen are needed to organize and manage. Profits do need to be a priority or else the business will sink. Entrepreneurs are needed to create and force new ideas into the market, they stimulate growth and progress. One without the other in a company would be hard to sustain, the two balance each other out. Where one has holes the other fills. Take a look at your business, company or organization. What role do you play? Are you a businessman, entrepreneur or a rare breed of both?
For tips to grow your current business no matter the role check out some tips here.
Have a great New Year and we wish you the best of luck with your ventures in 2017!