During the last few years, the term “entrepreneur” has spread globally, and a lot of people have been wondering whether there is a significant difference between an entrepreneur and a businessman or whether the terms are similar. Before we begin to tell whether there are differences between them or not, we must know that entrepreneurs and businessmen both run businesses that are often successful.
There are several differences between an entrepreneur and a businessman, as each has characteristics and capabilities that set him apart from the other. Yet there are also some similarities. In this article I’ll discuss what differentiates a businessman from an entrepreneur, and I’ll also highlight some qualities that distinguish each of them.
What is the difference between an entrepreneur and a businessman?
The entrepreneur is distinguished for having creative abilities and skills, whether in thought or implementation, and he is called the “idea’s hunter” where he can turn the idea into a real investment that can be successful. Entrepreneurs are always searching within every problem for a genius solution that solves a problem and leads them to success.
The entrepreneur is known for his present-minded, as he tries to benefit from every event or situation he sees in front of him, and therefore we find that most unique projects that won the admiration of the entire world were the result of an event or problem that the entrepreneur noticed or lived.
For instance, a situation that actually happened with the entrepreneur Travis Calanic, the founder and owner of “Uber“, while Travis and his partner were in “Paris” in 2008, and they were waiting for a taxi, Inspiration had his big word, Travis came up with an idea to create an Uber app, and he made strenuous efforts to get the idea out of the light until it became admired by the world, especially in the Middle East.
And as it became part of the business world, each unique and successful idea after a while will start the competition battle. The competitors are always businessmen profiting from the pioneering ideas after implementing them. Or another entrepreneur who is modifying the “pioneering” thought also to the public’s admiration, for example, Careem’s application, Where made some radical changes in the Uber idea and became not only an application for car rental, but also introduced local technical solutions to improve transport services, banking services and eCommerce in the MENA region, as it evolved from being a company that provides car reservation services and delivery of requests to one of the best daily applications in the Middle East. And here, Careem overcame Uber and Uber reached an agreement to purchase Careem for approximately $3.1 billion in March 2019.
From here we can say that the pioneering idea is not the one that has the admiration of the public and is a boom in the business world, but it has also become a modification of the idea and giving it a different form from what it was is also a new modified entrepreneurial thought.
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Therefore, allow me to say that the entrepreneur must have a future vision for the pioneering idea to continue to succeed and not be defeated in the face of intense competition in the world.
Among the most important qualities that entrepreneurs possess are the following:
- Risk-Takers: An entrepreneur’s constant passion for navigating the business world with new ideas is in itself a risk that no one else can take, as he invests all his energy and everything around him in implementing what he believes in and works to make his idea successful.
- Self-confident: One of the most important qualities that must be available in the entrepreneur is self-confidence. He must believe in himself, his work and thoughts.
- Ambitious: Ambition for the entrepreneur is a powerful engine that drives him forward and urges him to work hard and achieve continuous success. Therefore, ambition can be considered as the golden secret for everyone who has a goal and wants to achieve it. Without ambition and determination, you cannot reach your goal. Always create a strong wall between you and frustration. Aspiration and frustration are two things that cannot exist in one mind. Either you have great ambition and succeed, or your motivation decreases, and frustration dominates you and you fail.
- Leader: One of the most important factors for success is the team. Therefore, when you find a successful pioneering idea, you must know that behind the scenes is a successful team, due to successful management that is ultimately represented by the successful entrepreneur who has the ability to manage the team who often comes from many different backgrounds.
- Creative: And here the question is, what is meant by being creative? Does it mean having creative thought? and what is the difference between ordinary thought and creative thought? This question, whose answer is very similar to the answer to “What is the difference between an entrepreneur and a businessman?” I can sum it up and say that creative thought is the reason to find a successful entrepreneur. His creative thought is an effective reason for finding a solution to a problem that the world admired. Ordinary thought is a traditional thought, which can be considered in the business world as a genius thought.
In my opinion, the businessman is a successful and distinguished person as well, as he enters the market with all the strong competition in it, and yet he continues to work and offers everything he has to succeed. And just like startups, the success behind each work is integrated and distinctive teamwork and a leading man. A successful businessman is always characterized by leadership, he also has many other characteristics, what are they?
- He has a clear goal: the businessman has a very clear goal, which is setting up a project with the goal of success and making a profit and increasing it. And assisted in this by the specialists, whether they are from the administration and the company or from outside like external consultants and experts.
- Not a risk-taker: the businessman is not a risk-taker. When he creates his project, he takes some traditional steps which are known in the business world, like using researches and studies and working on a comprehensive feasibility study that confirms the project’s success and approves it by statistics and studies. And it does not accept adventure or risk in any way. Businessman’s primary goal is to increase his money and make a profit.
- Visionary: He has a clear future vision of the project and the market, and he depends on it on the success of his business. Always he depends on statistics and studies to build his vision and show the business’s success rate.
- Expert: He has sufficient experience and knows the market well. He can stand with the competition in the market. As part of his experience, he knows his competitors and he keep an eye on them to analyze them and their products and services. Therefore, He is a strong competitor.
- Passionate: Like the entrepreneur, they both have the passion to get what they dream of, which is setting up an idea and turning it into a successful business. And therefore, passion gives them the needed energy to work without getting bored or tired.
To sum it all up, I can say that both businessmen and entrepreneurs are people who have been through a great deal of fatigue and hardship until they’ve succeeded. If you have the talent, the idea and you’re looking to start a business, then you have a clear goal. You should strive to turn your dream, goal, or idea into a business. And, do not forget the importance of passion, ambition, and self-confidence, because you cannot navigate the business world without them.