The very first social gathering I attended after setting up my business. I was asked to introduction myself and what I do.

When I started introducing myself I got stock when it got to that point of what am into. I was confused on whether I should call myself a businessman or an entrepreneur

I know just like me a whole of us don't know the difference those two.

I will share with us the major difference before i diver into the 5 different mindset they operate on.

Businessman makes business from an unoriginal business or product idea. In much simpler term a businessman enter into an existing business, such as retailing or franchising.
While an entrepreneur is an inventor. He is usually the first creator of a product or service. They makes product or service from original idea.

Now, to the 5 mindset that differentiate them.

1. Business man do business for profit sake and to meet up with their financial goals. While an entrepreneur in many cases are concern with the desire of been a change agent. Changing the world system with their product or service invention.

2. A business man has this mentality of taking only calculated risk. They can not afford to loss all their money or suffer bankruptcy.
Whereas an entrepreneur are 100% crazy risk taker. Because entrepreneurs are passion chaser so they don't care about losing their money or time. However, since they do it with love, joy and passion, they often gain extraordinary result.

3. A business mentality for hiring employee is for the sole purpose of his business growth while an entrepreneur help to mould leader and build friendship amongst people he invites to help him grow his brand.

4. For business man losing money is one of his biggest worries. Most business rely on a good economy to start, operate and maintain business success.
While an entrepreneur don't usually worry much about losing money. Entrepreneur usually start their process from scratch.

5. A business man hate time wasting. He believes that every time wasted could have been use to make ROI while an entrepreneur act like an artist in a studio he worries less about time as his product or service for him, is a master pieces. This why he can be slow and could take longer period to perfect is product.

I hope this helps some one who doesn't know what category he falls in. From the difference and the mindset you should be able to know where your enterprising falls and what kind of mindset you should be operating it with.

It is very important to note that if you use a businessman's mindset to operate an entrepreneurial firm it is likely to fail.

©Akuma Uche Festus

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