As technological advances continue to shape the world we live in, the need for entrepreneurs and businesspeople has increased. Although both have overlapping roles and responsibilities, entrepreneurs and businesspeople have distinct distinctions that separate them. This article will discuss the key differences between entrepreneurs and businesspeople.
Entrepreneur vs Businessman
Entrepreneurs and businesspeople have both been instrumental in building the businesses of the 21st century, and any successful business will likely have both working together to get the job done. To understand the differences between the two, let’s look at the definition of each.
What is an Entrepreneur?
An entrepreneur is often defined as someone who starts and runs a business, taking on financial risks in the hope of making profits. They are typically self-motivated, taking the lead in creating and managing their own business.
Entrepreneurs come up with original ideas, products, or services and must have the courage to take the risks associated with starting and running a business. They focus on the long-term, often taking calculated risks to reach their goals. Entrepreneurs tend to think ahead and are constantly looking for ways to innovate and improve their businesses.
What is a Businessperson?
A businessperson, on the other hand, is someone who is skilled at managing and leading a business, even if they’re not the owner. They are organized, have strong interpersonal skills and know how to take charge of a situation. Businesspeople tend to be detail-oriented and have experience in the field that they are managing.
Businesspeople have expertise in the field, focusing on the specifics and everyday details to help their businesses succeed. They may specialize in fields such as accounting, finance, or management, which will enable them to execute the strategy and vision put forth by the entrepreneur.
Key Differences
Now that we’ve looked at each job description, let’s look at the key differences between entrepreneurs and businesspeople.
- Vision and Motivation
Entrepreneurs have the vision and motivation to start and run a business, whereas businesspeople typically have a more focused and meticulous approach to the work. Entrepreneurs often see the bigger picture and are eager to take risks and innovate. Businesspeople are more detail-oriented and tend to focus on the everyday tasks, but are also skilled at long-term planning.
- Goal Setting
Entrepreneurs tend to have long-term goals that often involve taking risks in order to reach them. They are driven by the promise of high returns and are more likely to think outside of the box, while remaining focused and dedicated to achieving their goals. Businesspeople, on the other hand, work to achieve goals put forth by the entrepreneur. They can offer valuable insight and identify problems and areas of improvement, but are more likely to focus on smaller, manageable objectives.
- Leadership Style
Entrepreneurs generally have a more hands-on leadership style and are more likely to be actively involved in their business’s decision-making process. Businesspeople are experienced in management and have a more methodical, analytical approach to their work.
- Job Responsibilities
An entrepreneur’s job responsibilities involve creating, launching and running a business, seeking and receiving investments, developing a team and overseeing all business operations, from creation to sales. Businesspeople are more focused on managing and leading a business. They are also responsible for recruiting and managing personnel, creating and maintaining budgets, formulating policies, and analyzing and recommending improvements to the business.
Entrepreneurs and businesspeople are both instrumental in the success of any business. They are essential for the success and growth of today’s businesses, but have distinct differences. Entrepreneurs have the vision, motivation and ambition to launch and run a business, whereas businesspeople focus on the everyday tasks to help the business reach its goals. Understanding the differences between entrepreneurs and businesspeople is integral in ensuring your business’s success.
