What’s the next thing? – That’s the frequently thought question of an entrepreneur. An entrepreneur might look just like a business owner because well, aren’t both doing the same thing? – They are running a business. But no. Two different words exist because they differ in meaning. There is definitely an Entrepreneur vs. Business Owner relationship that exists.
Difference in GamePlay
Entrepreneurs are risk takers. First major risk comes with the whole idea of initiating the business. You are launching your product on the basis of some market analysis by which you find out that there is a need for a certain product and so you bring together a team and launch it.
For example: There is no such app yet from where residents can hire maids and drivers for their houses. Getting a team of developers and researchers on this project CAN be the next big thing! It’s all about giving a platform to your ideas – and DREAMS.
Difference in profit generating behavior
Entrepreneurs are probably not even earning for the first few years of their CEO era. Whereas, small business owners are so goal specified and sticking-to-the-point kind of people that it’s always a lot of efforts held up towards one sole objective. With entrepreneurship, it’s a slow process so your profit margin is small and revenue generation is probably not happening while you are in the first few stages.
Some big names in entrepreneurship
While talking about entrepreneurship, one can not forget Mark Zuckerberg who is the father of the most widely running social media platform, Facebook. Again, it was an idea which got a platform to happen.
J.K. Rowling, having the die-hard fans today, also lived as a struggling individual, few years after which she came up with brilliant Harry Potter series and became a successful entrepreneur – which by the way she still is.
Here, the entrepreneur vs. business owner relationship is very properly explained via father-son sub-relationship where one was an entrepreneur while other one being a safe business owner. It’s a whole story. You will love it.