Участник:DarceeWagers222

Seven Top Differences Between Entrepreneurs and Businessmen

Entrepreneurs and businessmen are more often than not interchangeably used. I too happen to be responsible for using one or the another at times. However, Personally i think that there's a factor between your way entrepreneurs run their venture and businesses run their operation. Entrepreneurship is all about assuming risk and accepting whatever rewards or failures that occur subsequently. A businessman on the contrary follows a well known path and takes lesser risk than a business owner.Let's explore a few of the points where entrepreneurship differs from running the company.

   Entrepreneur have been in the business of making something new
   The reason for business is to recycle these products. Hence clients are a lot more like trading. By trading I mean purchasing goods from one place and selling in the other. This may also involve manufacturing at some step however the fundamental principal remains the same. Entrepreneurs create something new. They identify a problem and try to create innovative solutions which help reduce or eliminate problems. Even when they do trading, they'll apply innovative techniques to it. Allow me to give you a good example. If an who owns retail chain is adding internet sales as one of his channel, he is just as being a businessman looking for new ways of getting more business. However if he goes an creates a cutting-edge product which never existed before, he is becoming an entrepreneur. Here, he's taken the danger upon himself.
   Entrepreneur's "Business" is exclusive
   An entrepreneur will not work in places that there is already a crowd. He will use his scarce money to understand more about new. He will for instance, choose new channels of sales( internet, m-commerce etc), innovative products ( a brand new software), innovative marketing strategies( viral marketing) etc. He side steps the market that's too competitive and works in a niche area.
   Entrepreneur puts his own money first
   Since people are not convinced of his ideas, entrepreneur has to put his cash on the line first. He needs to reveal that a market are available for the products he's creating. Then only he can get external finance. This is in contrast to a normal business, where it's known that market exists and hence investors are more prepared to invest in such businesses
   Entrepreneurs working with new innovative products have more breakout chances
   If the risks are high, so might be the rewards. A successful entrepreneur reaps more monetary benefits than his business counterpart. A normal business with lower risk can get lower returns on the capital it invests. The surety of creating money in regular business is more than that of entrepreneurship though.
   Entrepreneurs experience more uncertainty than regular businesses
   Entrepreneurship is certainly more riskier and uncertain than conducting a regular business. A business owner faces the question just about every day about success of his product, price of developing the product, customer's adoption, team motivation and anything else. There is uncertainty and un-evenness of sales. A regular business however has pretty much regular sales and is less uncertain than an entrepreneurial venture
   Entrepreneurs share businesses with team
   Entrepreneurs develop vision plus they canrrrt do it alone. So a business owner constantly needs to remind his team and himself by what they are creating and why it'll work. An Entrepreneur has to always look for new ways to motivate the employees. The roles of employees change frequently based on the perceived business conditions In business however, the roles of workers are same through the life time from the business
   Entrepreneurs share the success using the team
   Entrepreneurs do not have much cash to provide. So they offer equity for their employees. When the venture is successful everyone that has a shares becomes rich. One of the prime example is Infosys technologies in Bangalore. It's created a lot of millionaires just by distributing equities to the founders and employees of the company. A company on the other hand is less available to sharing equity with employees and would pay higher salaries to compensate for it.

david cerullo

I nowhere state that businesses can't be entrepreneurial or vice versa but that there's a significant differences between the way a entrepreneurial venture and a business works. A business however can become entrepreneur by doing something innovative while entrepreneur can reduce the uncertainty by being a lot more like a business.