Businessman vs Entrepreneur

We all knowingly or unknowingly consider a businessman as an entrepreneur or vice versa. But there is a lot of difference between these both. Let’s see what those differences between them are:

1.      Idea:

The idea of an entrepreneur is new to the market and on the other hand, a businessman always works on an existing idea or concept.

2.      Risk Taking:

The businessman is not much open to taking risks in a business whereas an entrepreneur is always taking many risks and implementing a new idea into a business is itself a big risk being taken.

3.      Orientation:

The businessman always looks and works to make the maximum profit out of his business. The entrepreneur on the other hand prioritizes people relationships rather than money. This is in one way a disadvantage for the entrepreneur as he will not be making a profit at the rate which a businessman will be.

4.      Nature:

The businessman is always calculative in nature wherein the entrepreneur is intuitive in nature. Businessman calculates the profit and loss while making a decision but the entrepreneur goes with his intuition.

5.      Market:

A businessman works in a market where there already are many other players and he needs to create an impact and make a place for himself. The challenge faced by an entrepreneur is that he needs to create a totally new market in order to work. The competition of businessmen is really high wherein for the entrepreneur, competition is really low.

These are the key differences we need to keep in mind before calling someone a businessman or an entrepreneur. Being either of one has its own advantages and disadvantages. Both of them have their own places and value in our market. The only thing we need to do is not to consider both of them as the same.