As we have seen that many Multinational Companies are having large capital and those companies continuously grow with surplus amount of profit but sometimes they face loss on some sides. All these matters when it is concerned with the growth of any company. There are some people who always look after these type of issues because they are qualified professionals and they want their company on the top most position by carrying out the best practices and affordable solutions. You can guess that who are they? No? then I am telling you that they are none other than Entrepreneurs and Businessmen.
You have heard that we are using Entrepreneur and Businessman words interchangeably. Well, there is a lot of difference between them. A person who brings his unique idea to run a startup company is known as an entrepreneur. A businessman is a person who starts a business on an old concept or idea. … The businessman is a market player while Entrepreneur is a market leader because he is the first to start such a kind of enterprise. Some of the similarities and dissimilarities I have discussed below. Also how both Entrepreneur and Businessman help each other and how they contribute in company for its growth is explained in this blog.
DIFFERENCE BETWEEN ENTREPRENEUR AND BUSINESSMAN:
1. A person who brings his unique idea to run a startup company is known as an entrepreneur. A businessman is a person who starts a business on an old concept or idea.
2. A businessman makes his place in the market with his efforts and dedication, whereas an entrepreneur creates the market for his own business.
3. The businessman is a market player while Entrepreneur is a market leader because he is the first to start such a kind of enterprise.
4. The nature of a businessman is calculative, but an entrepreneur is intuitive.
5. As the businessman follows the footsteps of other businessmen, the possibility of failure is very less which is just opposite in the case of the entrepreneur.
6. A businessman uses traditional methods to run the business. Conversely, an entrepreneur applies unconventional methods for the same.
7. A businessman is oriented towards profit, however, an entrepreneur is a people focused in essence, he gives more importance to its employees, customers, and the public.
8. The businessman faces extreme competition because it is very difficult to gain a competitive position in an already existing market, which is not in the case of an entrepreneur.
SIMILARITIES BETWEEN ENTREPRENEUR AND BUSINESSMAN:
1. The similarities between an entrepreneur and business managers reveal that they both are decision makers; both have managing abilities and can project forward.
2. To become successful in either field both possess great time management, organization, prioritize, monitor plans, have great communications and listening skills. This equates to successful entrepreneur and business managers.
3. They both don’t want to be bossed by anyone so they will not work for anybody else. Even if they try to work for a company, they cannot do it because they will get bored and not get used to the lifestyle of working for a company.
4. They want to run their own businesses the way they want without having anyone who could tell them that they should not do that or this because it is not efficient or effective. They like to run their own shows.
HOW ENTREPRENEUR HELPS BUSINESSMAN IN COMPANY ?
Entrepreneur is the one who works under the businessman. He recruits the HR Managers, Employers and staff needed for the handling of the various departments. While the Businessman just want the profit from what the Entrepreneur do for growth of the company. Businessman only focuses on the growth which he desires to have for its own company while Entrepreneur helps him to do the same by making 100% efforts.
CONCLUSION:
To conclude, an entrepreneur desires big risks with bigger opportunities which result in higher rewards while being their own bosses. They run their own shows with the help of their investors and board of directors. Whereas, a businessman desires stable business while being their own bosses. If it’s a small business, they don’t have board of directors and investors; so they run their own shows which is why their businesses don’t grow.