The Difference Between A Business Owner And An Entrepreneur

It's all about the degree of risk ...

POSTED BY JACQUI FROST ON 16/11/2017 @ 8:00AM

Are you a business owner or an entrepreneur? There is a difference between the two. It's all down to risk I believe, as simply owning a business doesn't qualify you to be an entrepreneur ...

For a business owner it's a marathon, but for an entrepreneur it's a sprint!

For a business owner it's a marathon, but for an entrepreneur it's a sprint!

copyright: ximagination / 123rf stock photo (licensee)

Now, being a business owner shouldn't be seen as 'second place' though, as it takes a lot of skill to make a business work long-term; especially if it's just you because you have to wear many hats and be sales, production and administration all at the same time.

"A business owner knows their
stuff intimately!"

They've been working in their industry for many years and, at some point, realised they could offer their services independently of their employers.

Yes, there's still a risk (there always is when you're in business), but as long as the business owner works hard and perseveres at it, then they are going to find success long-term.

"An entrepreneur may or may not know their industry, but they are prepared to jump in!"

They see a gap in the market, and find a way to fill it with products or services they believe customers want. They hire the people they need, they outsource as much as possible to specialists and they look to setup the business in such a way it can run itself and they can be onto the next idea, then the next.

There is a lot more risk working this way. Richard Branson is the perfect example of an entrepreneur. He's started many businesses over the years, some worked and some didn't, but the one's that did worked well and made him a lot of money that he could invest into subsequent ideas.

Although they're still out there, the idea of entrepreneur selling dodgy goods from the back of a van or declaring that "this time next year, we'll be millionaires" seem to be over. Many young entrepreneurs are becoming more attuned to society and want what they do to benefit others.

They set up social enterprises which contribute to their local communities, they work with councils and the public sector to address the issues of particular types of people and they get a mix of ideas up and running so they'll always be interested in what they do.

But there is still a common thread with these young entrepreneurs: they take the risk on an idea and on people, they outsource as much as possible to specialists and they know when something isn't working so change it, or move on.

And this is where people like The Office Genie come in. We love to work with business owners and entrepreneurs alike. Whatever you consider yourself to be, outsourcing your call handling and some of your administrative tasks to a virtual assistant is always a great idea.

"Would you like to know more?"

To see how The Office Genie can sprinkle a little bit of magic into your business world, call us on 01604 529170 or click here to ping me an email and let's see how we can help.

And if you want to read more about us, click here to visit our website to learn how we've already helped hundreds of business owners and entrepreneurs, just like you.

Until next time ...

JACQUI FROST


PS:

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