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.
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 uses the already established idea and at most enhances it to increase its value in market. In the view of uplifting the current business growth, business people are more cautious as there are hundreds of risks involved. If at all there is a need of the hour, intense calculations are performed before taking any step which can jeopardize the stakes of the company.
An entrepreneur uses his own idea or innovation and releases it in the market as his own. Since it is his first time in doing so, the risk is high. Start-ups are volatile in the initial days as there is greater market uncertainty and concerns about customer experience.
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