To understand the difference between Entrepreneurs and Businessmen, it is crucial to understand the contrasting personality traits underlying these individuals. The argument revolves around the variation in the conduct of the two psyches when it comes to handling day-to-day situations that a typical company or organization may face.
Employee Handling
A businessman hires a dedicated team of professionals to execute the plans for business expansion. He focuses more on increasing the profit margin and increasing the market recognition for increase in number of customers. A professional environment is essentially maintained by the business organizers and managers so that the accuracy of work is optimum.
Comparatively, an entrepreneur believes in maintaining a friendly atmosphere in his team so that the flow of creativity and communication of ideas in the out does not get hampered. More-over, an entrepreneur is sensitive when it comes to the subject of his personal innovations and hence focuses on building a faithful group of individuals which can carry his legacy even after his departure from the enterprise.
Success Definition and Monetary Expectancies
For a businessman definition of success is quite simple; increase in numbers on intended columns of the spreadsheets in his tenure is one of the highlighted achievements of his career life. Thus the monetary expectancies are highly prominent.
On the other hand, an entrepreneur’s aim is to create a revolutionary change for the benefit of people. Such a thing demands rigorous amount of research and study on the topic, lots of surveys and then iterations on the implementation of the innovation. Success for such intuitive personality is very difficult to arrive at but is evident eventually. Generally, entrepreneurs aim at achieving their goal rather than earning out of it. Hence we can say that monetary expectations of entrepreneurs are comparatively less.
Business Idea Originality and Risk Handling
A businessman typically works with an already established idea, enhancing it to increase its market value. To drive growth, they tend to proceed cautiously, given the numerous risks involved. Any major decision is backed by thorough calculations to avoid jeopardizing the company’s stakes. On the other hand, an entrepreneur introduces a new idea or innovation to the market as their own. Since it’s their first venture, the risk is much higher. Start-ups, especially in their early stages, face greater volatility due to market uncertainty and challenges in delivering a positive customer experience.
Conclusion
There is a thin line that characterizes the two personalities and hence is usually blurred out through a commoner’s vision. The qualitative and quantitative improvement of customer offerings over the period of time is the resultant of exhaustive brain-storming of entrepreneurial minds as well as long-struggled endeavors of business professionals.
Hence, it is biased to address one as superior to the other but the traits of the two are totally different. One is working hard on making the already established ideas available to the common people while the other is working for bringing in a change in the traditional methods employed in the society for small and big tasks. The sole purpose in the end is to contribute to the well-being of human beings and make the world a better place to live!
– Namita Patil
Difference between Entrepreneur and Businessman
