In this article, I will explain the most significant differences between a business owner and an entrepreneur. A lot of people doesn’t know there is a difference, but the difference is enormous and why you need to know this if you want your business to grow.
In this article How can, I get rich will give you a better understanding of how to separate these titles.
Starting a business
More and more people each year decide to start their own business.
So why do people want to start their own business?
Here are some reasons:
- They want to make more money
- Want more time
- Financial freedom
- Some start a business because they are passionate about what they are doing
The most significant problems when you’re starting for the first time is you don’t have big enough why. You need a big enough way to understand what you want to accomplish with it and why you consider it.
When people start their own business, they usually want more time. The problem with this is it takes a lot of time to grow a business.
The easiest and safest way to start your own business is to become self-employed. I mentioned the four ways to create wealth in my post, Ordinary Income VS Passive Income. It’s called The Cashflow Quadrant.
Becoming a self-employed doesn’t make you any richer or create any cash flow. You own a job. You are the employee. You work more to earn more. Money doesn’t work for you. Other people don’t work for you. You work for yourself, and this will keep you at the left side of the cash flow quadrant.
Learning By Doing
To create wealth, you have to take risks.
If you lose, you’ll be wiser. If you win, you’ll be happy.
I’ve seen this quote a couple of times which gained my attention.
Do you remember the first time you tried to learn to ride a bike?
I certainly do. I fell so many times that I lost counting. I trained for weeks. Until one day I had my breakthrough. I had finally learned to ride a bike.
I didn’t spend my time reading how to ride the bicycle. I don’t know how a bike is structured. The only thing I had to learn, is riding it. Marketing is a skill you won’t unlearn. Once you learn it, you know how to use it later.
Business is no different. It is the same. It’s all about how many times you are willing to give you self a new chance. If I told myself at six years old, I can’t do this it’s too hard. I fail and fall. I would never learn how to ride a bike.
Our surroundings tell us business is so risky, well OK, what else is dangerous in life? Everything. Drive a car. Our job. Swimming, etc. We were as a child that we need to go to school to become an employee for the rest of our life.
Nobody tells us that we can skip school to become wealthy and create a stable cash flow and help the world.
More than 90% of small business never pass one mill euro renew mark. They make less than one mil euro a year.
Business Owner vs. Entrepreneur
Most people don’t know the difference between a business owner and entrepreneur.
My father boss is a business owner for a small company.
I asked him what he does.
He replied he owns a business where they sell office equipment. A shop for customers to come by and for companies. A very narrowly and focused on that particular business.
When I asked an entrepreneur, I couldn’t get a clear answer. Entrepreneurs make money on execution and by innovative ideas. Explaining it was not easy because there are so many ways to generate cash and revenue.
They start companies, turn around companies, grow companies, sell companies and find it doing all over again. Could be any business. To ask an entrepreneur what he is doing, you need to be more specific.
Could be anything from investing in real estate, Stock Market, building a new business within your company, MLM, Affiliate programs, etc.
If you ask an entrepreneur what they are working on, they will tell you what they are working on at that moment.
If you ask him again after a couple of months, he would be most likely to say he is evolving and adding some new pieces to the business.
If you ask him one year later, he could do something completely different because he succeeds in what he was doing last time you asked him.
A mindset like this is innovative. Entrepreneurs are doing many things but within one business. They might have different companies, but they are very creative in the industry they are working with now.
Most entrepreneurs fail because they start businesses with the wrong reason and attitude.
They want it to happen quickly, have more time and earn a lot of money. If they don’t see the results in a short time, they quit and complain and blame others but themselves.
Imagine having a baby. And at the same time, you want more time. It’s not going to happen. When you have a baby, you have to spend time with it and take care of it and make sure you keep the baby alive. It is going to take you MORE time, not less.
The same as an entrepreneur. They don’t stop, it is always going, and when they are off work, they are not of action. They are still thinking about anything. If you’re driving or eating breakfast, you think about how you can grow your business. That’s an entrepreneur. That’s what they do.
If you can manage to spend your time having a baby and family, then you can build a business as well.
The Business Owner
You ask the business owner what he does. And he tells you he owns a restaurant.
Seven years later you ask him again.
He still tells you he owns a restaurant. That’s when you know it’s a business owner and not an entrepreneur.
For example. Which business is Samsung? In the beginning, Samsung might start as a computer business or a software business. Later on, it evolved into other types of markets. The music business, mobile phone business, app business.
How Entrepreneurs Get Rich – Innovate Ideas:
- How can I make it better
- How can I add value this way
- Can I do something like this?
Which business is Disney? It’s a theme park, how about Disney channel, Disney cruise, licenses business, merchandise business. They focus on more on different markets, not on one particular market.
How can you obtain multiple streams of income with just one business? How can I build a business within my company?
Should YOU Become An Entrepreneur?
Entrepreneurs that start their own business and fails, it is because they want more free time than less. If we go back to the baby, when it grows up, you could have gone to school or have your parents taking care of the baby.
When the baby grows to a teenager, he will have life on his own.
In the first extended period by years. You are taking care of the baby; it requires a tremendous amount of attention, love, and neutering to make it grow.
It’s like growing a business.
If you tell your self, you going to quit if you earned 10 million dollars, that’s why you won’t make 10 million dollars. You are thinking about getting somewhere so you can stop.
Successful people don’t think like that. The reason they are successful is they love what they do. They are good at what they do. Passionate about what they do. That’s why they are where they are at today.
You don’t need to be an entrepreneur to be wealthy. To be an entrepreneur, you must burn for your case, and have it in you wain; you must think of it when you go to bed and sleep.
If you don’t have a big enough WHY you won’t be able to succeed as an entrepreneur
MLM / Network Marketing – The Fake Entrepreneur
I’ve been into the MLM business, and still am. I don’t brag about I am an entrepreneur because I’m not. But there is often I see a lot of people write in their Facebook profile that they are an entrepreneur.
What has he achieved? Nothing. He has just spent a lot of money to earn a certain career level.
They’re still at the left side as a self-employed but wants to believe they are at the right side.
The MLM business in itself is just OK, but the skills you need to succeed is enormous.
Not only will the skills work on MLM business, but others as well. The Go Pro – 7 Steps Becoming A Network Marketing Professional, is excellent because it is straight on the fact. All you need to do is learn these skills, and you’ve become an entirely different person.
Joining an MLM / Network Marketing program is recommended if you are new into business. Because it helps you to talk to people, and you will learn a pattern that will make people buy from you.
You’re not going to convince anyone, but to educate yourself. Most of the people fail at this business because they are thought to convince their prospects. Instead of finding their needs and help them.
If you convince them, they will think the next day that you have tricked them into a pyramid scheme. Later they will say you owe them money because you convinced them to spend money on it.
If you don’t have a big enough team to create big enough cash flow, you’re not an entrepreneur, but a self-employed or a FAKE Entrepreneur.
I wrote an article Is Multi-Level Marketing A Scam?
If you want to know in depth about MLM and Network Marketing
How to go from business owner to an entrepreneur
If you want to get to somewhere at a destination to avoid something else, that’s not going to work.
That’s why most entrepreneurs fail because they start with the wrong mindset. Versus the mentality of entrepreneurs who are successful.
Successful entrepreneurs don’t quit. That’s not how they operate.
The very fact reason that you want to get to someplace where you can call it to quit is why you got nothing where you get to quit on.
You have to start with the right intent. The right motivation. Knowing it is going to take some time.
You’re not going to get more time within the 1-10 years, are you OK with that? Can you endure that frustration and sacrifice?
If not, then don’t be an entrepreneur. Just get a job and do something else. It is not your path; there is another way to earn money.
You don’t need to be an entrepreneur to be wealthy.
To be an entrepreneur, you must burn for your case, and have it in you wain; you must think of it when you go to bed and sleep. If you don’t have a big enough WHY you won’t be able to succeed as an entrepreneur