Entrepreneur and businessman are two terms associated with the founder who starts a business. These two terms look akin to each other to general mob, to some extent they are correct but their are few core differences between them, which completely changes their identity. The Businessman is the one who traces the path which is already traced, but the entrepreneur walks through odd and makes his own path. A Path builder is always superior than a path tracer. Down below in this article we have further discussed in detail, the various factors which can help you build a better understanding of these terms.
Based on innovation
A business man works with the existing ideas prevailing in the market. He enters into existing businesses, such as franchising and retailing. He chooses a hot and profitable business idea regardless of whether it is his original idea or borrowed from someone else.
An entrepreneur is someone who works on his own original idea. So the entrepreneur is a person who develops his own innovative idea which may have a motive of transformation in the society.
Based on purpose
A businessmen do a business for the purpose of making a large profit, earning a good livelihood or lifestyle. Although there are some businessmen who are non-profit oriented.
An entrepreneur is more concerned about the change that he could bring to the world. They are not very much keen about the financial return, rather they are bothered about achieving their ultimate goal.
Based on risk taking capability
Businessmen take calculated risks. They can’t afford to lose all their money, so they do all possible mathematical calculations before investing the money.
An entrepreneur is someone who can take crazy risks without much bothering about the amount of money and time that would be required to pursue their passion.
Based on focus
To simplify, the main focus for Businessmen is:
- Administration of business
- Search for truth, Short-term
- Utility, Incremental
- Facts, Verbal, Measure
- Minimal Risks, Predictable, Smaller Rewards
The main focus for Entrepreneurs is:
- Invention of business
- Search for what is interesting, Intuitive, Long-term
- Holistic, Significance & Meaning, Leap forward
- Emotion, Visual thinking
- Risk, Uncertainty, Potentially High Rewards
- Value Addition
BASED ON THE MARKET
The businessman makes his space into the existing market on the basis of the hard work and patience. They are in the market because they are surviving the bottleneck competitions. Due to thinner margin and strong competitors it becomes really hard for the businessman to be safe, if they don’t try something new every time. But on the other hand the entrepreneurs are market creators. They have to work for the sleepless nights to create their market. They usually have low competition because their market is nascent and is not touched by other players in the market.
On the basis of approach
The businessman has a sole motive of earning profit. They look for opportunities through which they can tap the market and bag huge profit, but the entrepreneur is a creative artist they give time to do something completely different and unique.Their work creates their identity. They usually are slow in their initial stage.
Author’s perspective :
The Entrepreneur and the businessman are both in the market to do business.Both will want their company to flourish and see good figures in the future.They follow almost the same process, but they differ too much in their core value.Entrepreneur’s works are people focused while the businessman’s works are money focused.Entrepreneurs are excited to try something new and adventurous,but the businessman has trained himself to follow the same set of rules (prohibit himself from taking too much risk). The entrepreneur works his ass off to convert his vision into reality, but the businessman is quite vigilant towards the market and quickly adapt to the trends in the market (This is their survival principle).