Wait. So there’s a difference?
Yes there is! A BIG one!
I would argue that perhaps one starts off as a businessman/lady and then becomes an entrepreneur due to a vacuum that he/she discovers and wants to fill.
Let’s first find out the differences ok?
- One Makes From Scratch, The Other Is Unoriginal.
An entrepreneur is more of an inventor. She comes up with concepts that give birth to the product of service. She puts in her time, resources, finances and whatever else it takes to actualize the product or service. The businessman on the other hand recycles ideas and enters into something already existing. Not that that is a bad thing, he just wants to take advantage of what is already there just maybe on a bigger scale for more profits.
Taking the example of Mwangi who owns a fleet of taxis-He is a businessman. Whereas Travis Kalanick and Garrett Camp-the creators of Uber are entrepreneurs. They injected mobile technology to come up with a new way of hailing cabs. (Genius by the way and so convenient!)
This goes to show us that you shouldn’t stay up all night thinking of something PURELY original, you can spot something missing from something already existing and turn that into an invention. By the way, I have been told, everything has already been done under the sun so don’t even stress, reinvent the wheel.
- The WHY.
Businesses exist to make profit. That is the start all and end all. With entrepreneurs however, as much as that may be a goal, it isn’t the ultimate goal. The inventor has a bigger vision which is to impact change, touch lives, and to change the world. Shout out to Mpesa! Lol.
Most times, the businessman would want to carry on with the business into his sunset years and not let it go even when the business is sinking into debt and losing customers. The business is like a baby to him. Something to be passed on from generation to generation. An entrepreneur on the other hand knows that if one invention doesn’t work out, try another and another and another! And even when it does work out, build it in readiness to sell it. The entrepreneur isn’t too attached to the product/service.
A businessman may be ready to take on some bit of calculated risk for the growth of the business but nothing too life changing or “crazy”. The entrepreneur on the other hand is a crazy mother (shut yo mouth!) who believes in all or nothing if the plan or idea sounds exciting and they are passionate about it.
A business could define it from profits made, number of customers, visibility, etc. An entrepreneur looks at it differently. Her definition of success is in impact. In how may lives her invention has touched and possibly changed. The money is good without a doubt but yo, you were discovered on YouTube and you’re now a superstar? Mission accomplished! (Hi Justin Bieber)
A business person is an employer and a manager. What he has are workers to help him grow the business. An entrepreneur on the other hand is more of a leader and a friend (awwwww!)He sees his employees as assets in form of people. He aims to not only further his vision and agenda but also to grow them.
Did you read about the CEO of Chobani Yogurt who gave 10% of his shares to his workers? Brought tears to my eyes! Read about it here.
In the end what I can say is at some point, the entrepreneur can be a businessman and some businessmen are entrepreneurs. (Lol. Confused much?😕) One isn’t better than the other, but it’s good to know where you stand. So I’ll ask you this, are you an entrepreneur or a businessman? Please leave your comment below.
Love. Live. Learn.