1.4 DIFFERENCES BETWEEN AN ENTREPRENEUR AND A BUSINESSMAN

Generally, people will see that both the terms entrepreneur and businessman are synonymous. Both must form a company, start a business, sell products or solutions to customers and pay their dues. But there are some significant differences between these two terms. What is the difference between a business and an entrepreneurship? These terms are commonly used interchangeably.

BUSINESSMAN

ENTREPRENEUR

·         Starts a business from an existing idea or concept ·         Involve in selling- buying activities ·         Has many business rivals ·         Focuses on competition ·         Is always busy on his business “busy-ness” ·         His business gives him a living ·         Traditional ·         Stays safe ·         Worried ·         Profit-oriented ·         Has an active income of profit ·         Hire people to increase business productivity ·         A market player ·         Not a financial freedom type ·         Only gives importance to a part of the business world (atomistic)

·         Starts a business from his own unique idea or concept ·         Involves in self-invention ·         His business rival is himself ·         Focuses on cooperation ·         Is only busy preparing his new enterprise ·         Gives life to his business ·         Innovative and revolutionary ·         Risk taker and accountable ·         Self-satisfaction and success, passion ·         People-oriented (i.e.: employee, customer, public) ·         Has a passive to give them productivity ·         A market leader ·         Has achieved financial freedom ·         Gives importance to the business world as a whole (holistic)

Figure 1.1: Differences between a businessman and an entrepreneur.

Source: Businesstips.ph (2011)

From the comparisons, it can be deduced that being an entrepreneur is not an easy path compared to a business person. An entrepreneur is not an easy path compared to a business person. An entrepreneur is a business person who has evolved into a more complete person who is not simply a business person but a real human being. By being a businessman, a person is being profit oriented, a market player, a business competitor, traditional, as well as a busy and active income earner. In fact, all business owners have gone through all these stages. Even the successful entrepreneurs have gone through all these stages. Even the successful entrepreneurs have gone through the same path before they succeed. It is just that they have taken the right move to evolve into a better and the best businessman that they can be. That is why they have become not only businessman, but rightfully they become entrepreneurs.