Do you know which one you are- a small business owner or an entrepreneur?
Sometimes people use the two interchangeably, but there are actually some big differences. Either way, everyone loves a small business. They keep money in the local community, help our economy as a whole by creating jobs, and they come up with new ways to do things and help to modernize industries. The important similarities between small business owners and entrepreneurs are that they’re driven, motivated, and creative.
Read through our list of differences below, and figure out if you are an entrepreneur or a small business owner:
Small Business Owners are Sentimental, Entrepreneurs Focus on What’s Next
When you’re a small business owner, your business is your baby. Business owners become very sentimental with their business and want to continue running it how they believe it should be run. They want to keep focusing on making this business what they intend it to be, and working with the employees that they have helped to mold. Small business owners see their business as their future and want to work hard at it to keep it that way.
On the other hand, entrepreneurs are often looking at their next big endeavor. They likely start a business with interest to sell from the beginning. They like to grow their ideas into something big enough to make the money they need to focus on their next big idea. Entrepreneurs see businesses as a creative outlet, exciting and fast-paced.
Small Business Owners have a Big Idea, Entrepreneurs have Several
Small business owners have come up with a great idea to help their community and industry. Because of this, they are able to focus on their business and helping their local community. Small business owners see a problem that needs to be solved, and they focus on fixing it time and time again. Because of their focus on their big idea, small businesses are likely to stay in the family and be run by the same person/people for long periods of time.
Entrepreneurs have several ideas and things that they want to focus on and spend their time on. Instead of polishing up their small business and then being there to see it through, they want to get to their next idea. Entrepreneurs are always looking for what they can tackle next and, often, trying to manage several projects and businesses at once. They are so full of ideas for new businesses, it’s hard to stick with just one for a very long time.
Small Business Owners are Steady, Entrepreneurs Prefer Risks
Small business owners are steady and reliable to their business. Because it’s their baby that they’ve started and that they are passionate about, they aren’t going anywhere. Small business owners prefer to continue with their weekly goals and to-do lists in order to keep their business running smoothly. Employees know they can trust the small business owner to be involved in the long-haul, which is why small businesses often have very loyal, long-term employees. Small business owners aren’t going anywhere!
As mentioned before, entrepreneurs see business development as a creative outlet, and they love to take risks! This doesn’t mean they won’t do a great job with each of their endeavors, it just means that they like to take the leap and go for what’s next. While many people are nervous about starting something new because it might not work out, entrepreneurs are excited by that and ready to take the risk!
Whether you see yourself as a small business owner or an entrepreneur, one thing is for sure: you’re a hardworkwer. Your passion and work ethic are inspiring to those around you and that’s what makes your business, or businesses, thrive.
For more insights on marketing strategy that actually works for small business, subscribe to the FreshLime Newsletter here. Connect with Jay Bean, Founder of FreshLime and Small Business Marketing Expert on LinkedIn and Twitter. And last of all, if any of these tips have helped you or if you have anything to add please comment below. We’d love to hear from you!