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Business Owner or Entrepreneur?

image - SMARTSTART Relationships

Success comes to those who know and remain true to themselves.

I have frequently stated the most important relationship is the one you have with yourself. Knowing who you are and what you stand for is prerequisite to fully experiencing success.

From there, the logical next step is to understand your relationship to your business. Are you a business owner or an entrepreneur? Or a combination of both? Here are the top 12 differences between the two to help you figure this out.

 Objectives and Views  Small Business Owner

 Entrepreneur

 Primary Motivation  To make a living  To make a change and impact
 Personal Financial Goal  Regular income  Exit value of a company
 Career Objective  Self-employment  Financial freedom
 Financing Strategy  SBA or bank loans, other credit  Investors
 Business Strategy  Creating more sales  Providing value
 View of Assets  Real estate and inventory  Employees and customers
 Risk-Taking Profile  Stability  Willing to fail
 Employee Compensation  Market rate or below  Will pay for top talent
 Work Environment  Extension of owner’s home  Fast-paced and growth-focused
 Investment Profile  Main investor/owner of company  Investor/involvement in different businesses
 Daily Actions  Day-to-day manager  Strategy, growth and collaboration
 Work Style  Long-term; enjoys repetitive tasks  Short-term; a serial innovator/inventor
Credit: BizTechDay – Luanne Teoh