Businessmen & Entrepreneurs: Same, but Different
In today’s time when 70% of the workforce is constituted of Millennials, a lot of people have the misconception that the term Businessman & Entrepreneur carries the same meaning and can be used interchangeably. Maybe the same in some ways, but there are very subtle differences between the two.
Entrepreneurs and businessmen and not completely separate categories. There are always businessmen with entrepreneurial ideas and entrepreneurs with ambitions of businessmen. Both businessmen and entrepreneurs are individuals who enter the business world, with different objectives. Both the professions can change the world, but are always dependent on each other. One does the innovation, the other supports that innovation. Well run businesses are the ones which spark the mind of the entrepreneur and make them ask the question as to “How can i run this better?” Entrepreneurs make better businessmen as new ideas create a better marketplace and younger talent.
Entrepreneurship is not an easy feat compared to merely doing business. What we must realize is that an entrepreneur is a business person who has evolved into a more complete person – who is not just one that is simply a business person but a real human being. Being a businessman, being profit oriented, business competitor, traditional, busy and an active income earner is not at all bad since all business owners have been on those stages somewhere within their businesses. Even successful entrepreneurs, before they succeed, have been into that. The mere difference is that they have taken the right move to evolve into better businessmen that they can be.
“All Entrepreneurs are businessmen, but not all businessmen are entrepreneurs” – T Tom Jones
An Entrepreneur would start an enterprise with a new idea or concept, or maybe improvise an existing idea or concept and become a Market Leader. Whereas, a businessman would set up an existing business and go with the same flow as his competitors being a Market Player. A businessman is always and will always think like a businessman, but an entrepreneur is an entrepreneur, an organizer, a risk taker, a manager, all at the same time working towards his purpose. The businessman would always focus on competition, but the entrepreneur is the one who gives emphasis on coordination and cooperation of all the resources available.
Someone who creates opportunities in markets that have not previously been capitalized on is an Entrepreneur. They bring to fruition ideas that are often discussed but scarcely acted upon due to fear of failed implementation. When ideas are not tested to be proven as successful, businessmen have an incentive to avoid investing in the unknown and search for a more guaranteed investment. However, Entrepreneurs are the ones who take the risk. Being an entrepreneur does not mean that you are not looking to monetize your career through your efforts. It simply means you plan on building your career off of a new way of doing things at the right time.
While it is true that all businessmen are risk takers in their own specific industry and that the day to day operations and investments have their own scope of risks. The kind of risks taken by entrepreneurs surpass the high-risk decision making which may have compounding effects.
Businessmen dislike competition, they regard them as threats and will do anything to mitigate them. Entrepreneurs welcome these threats, as it allows them to continually innovate and refine their ideas to be better than the other, while co-existing in the same dynamic.
Most entrepreneurs often have small beginnings overloaded with tons of challenges, before they find their mojo. It’s the dedication and the ability to see the bigger picture that takes them through their first chapter in the commercial world. There are many inspiring true-life stories of simple individuals that work their way to become great entrepreneurs, be it the logistics business or that of the design industry, the journey of an entrepreneur is filled with excitement and challenges.