Are you a business owner or an entrepreneur?
These two terms are often used interchangeably but they are not the same thing at all. Each has its own distinctive qualities and goals and deciding which direction you’d like to head is important for reaching your goals.
What is a business owner?
A business owner is someone who has a skill or a passion that they would like to build a career around. They tend to take baby steps and avoid large risks. They tend to make decisions based on balance sheets and profits and are interested in a sustainable stream of income. They’re more interested in creating the now versus creating the future.
What is an entrepreneur?
An entrepreneur is someone who has goals to change the way systems are approached and executed. They have a desire to make a bigger impact on the world; a drive to turn things up side down. They tend to be driven by both new ideas and the evolution of older ideas. Entrepreneurs can be business owners but they tend to move on once their vision has been realized.
One key difference between a business owner and an entrepreneur is the act of putting together something that can run without the founder. They build systems to make sure the project runs smoothly. They build something bigger than themselves and a few employees.
I recently heard someone say “Entrepreneurs tend to work on the company while business owners tend to work in the company.” I thought that was a good summary.
It’s not that either of these is right or wrong, they’re just different, that’s all. The thing is, you have to decide what’s right for you. Because, based on what it is you want, you should be thinking about what steps you need to take with your business now.