Why a Small Business Owner is Not Necessarily an Entrepreneur

Friday 31 May 2013 | Danielle Pacelli

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MemeReg Biz Clothes Why a Small Business Owner is Not Necessarily an Entrepreneur

The titles “Small Business Owner” and “Entrepreneur” are often used interchangeably, and most people are a bit fuzzy on what the difference is. But the two couldn’t be more different: the main thing that they really have in common is self-employment.

Entrepreneurs take risks; Small Business Owners play it safe
It’s a fact – entrepreneurs identify needs and opportunities from the world around them and dream up ideas that they believe will change the world. They are willing to risk their time, money and efforts regardless of whether or not their ideas will be successful, and when they do fall off the horse, they jump right back on and continue their ride. Small business owners do everything in their power to eliminate risks and mistakes, but sometimes overlook opportunities to expand their businesses or innovate.

Entrepreneurs and Small Business Owners have different skill sets
Entrepreneurs are focused on creating the future – they know that the industry they are interested in will grow and evolve and they want to lead that. Their skill sets include creativity and innovation. They actually possess the capability to visualize a big picture of what needs to happen and then work to get there. Small business owners are often already established and are where they want to be, so they aren’t as concerned with the big picture. They focus on details, making sure everything is on schedule and within budget.

Entrepreneurs and Small Business Owners both work hard, but in different ways
Entrepreneurs often work very long hours with a team of enthusiastic employees, who are eager to contribute and come up with ideas. They spend are passionate about their ideas and are excitedly planning for the future. Small business owners strive to create efficient work environments and motivate workers to put forth maximum effort. For small business owners, satisfaction often comes from seeing steady profit throughout the years.

What do you think is the biggest difference between entrepreneurs and small business owners? Leave a comment below or tweet us @MycroBurst!

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