22 November 12

The Difference Between The Business Owner & The Entrepreneur

Recently, I was reading an article about the difference between business owners and entrepreneurs. While I don’t particularly agree with every statement, it is a thought provoking piece that makes you think about the role you play in business and which side of the fence you want to sit on.

For a while now, we have heard the difference between the old economy and new economy and changes we are experiencing. Some statistics that have been around for long time are; 1% of the entire population will be successful, the entrepreneurs, whilst 70% of businesses will be a “Lifestyle Business”. A business that is making money and successful but doesn’t really take risks, it’s more like a job and you work for yourself.

 

Here is my take on the new age Entrepreneur.

We think of Entrepreneurs and we think of Richard Branson, Steve Jobs and Janine Ellis. The truth is, there is a new wave of people coming through and they are multiplying by the thousands. The everyday entrepreneurs that are making a difference on a large scale and you would never know. There are spin off names of these people you may have heard like; Solopreneurs, Mumpreneurs and my good friend Trevor Young calls them Micro Mavens. Whatever you call them they are contributing to world and making difference by adding value to people lives. They are the creators, the visionaries of their fields and their business an empire is built around their passion, their purpose or their dream.

 

To me that is the new age entrepreneur and the difference between a business owner and entrepreneur.

Someone who has a burning desire to make a difference to the world and to give back to society too build a legacy. Someone who is not afraid to take risks and living a mediocre life is not an option. Someone who creates and is the visionary of their business, whether you do absolutely everything within your business or you set it up so you aren’t in it all the time. However you work in it, it is an extension of you and you enjoy it. You believe that there is no such thing as competition and there is enough success in this world for everyone, so the old rules do not apply. You give, because there is always more where that came from. To me that is an entrepreneur, the definition is not determined by whether you work in your business or the model in which you work, it is the space that you work from.

 

The business owner is someone who operates their business and works for themselves and lives comfortably. The tradesman who went out on his own and now runs his own business and the vision is ensuring you get enough work to pay the bills and live comfortably. They are happy running within their business and life and have no real desire the take on the world and make a difference. They are happy and content where they are.

 

In summary

We need both the business owner and the entrepreneur as both plays a significant role in society. There is no right or wrong here, it is what you want to achieve, your goal. How big do you want to play? How strong is that fire in stomach to make difference? What side of the fence do you want to be?

 

My advice

Whatever side of the fence you want to sit set your business up so you don’t have to be “in” it all the time. Aim for your business to run and grow efficiently and smoothly without you in it. Otherwise you are on a one way street to burning out and you become that hamster on the wheel unable to get off.

In the beginning it is normal to work in and be your business, but I recommend you have a plan, a model or a map as to how your business is structured so as you grow, you know who to employ and when. This will allow you to run the business instead of being in it.

 

If you would like to hear from other new age entrepreneurs, I highly recommend you read my book Agents of Action for some inspiration and ideas.

 

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  • Great article Renee! It’s something every business owner should think about.
    Monique recently posted..Lucky Bitch Bootcamp

  • Sue

    Thanks for the great article, lots to think about.

  • Kat

    micro mavens LOVE IT!! and to be honest, that is why i love what i do… helping people who help people is like a massive snowball of energy… and i do believe – many of these micro mavens — in the future — will be known like steve or janine 🙂

    GO GIRLS!! x
    Kat recently posted..Overcoming the Emotional Hurdles to Grow a Better Business

  • Food for thought – it is so true that all just want to be able to leave a legacy, so hat’s off to all of us micro maven’s I just read Trevor’s ebook and loved the concept 🙂 x Kylie

  • Thank you, yes it does gives us lots to think about and aspire too 🙂

    Rx

  • Jenny Leather

    Thanks Renee, the amazing thing is as we personally grow our business evolves and grows with us when we access these new energies. Life with Ease and Grace is my motto, to follow the flow and live a life that brings happiness as a by product.
    Jenny Leather recently posted..Interesting Insight into the energy of Justification.

  • I TOTALLY agree Jen! That’s what I didn’t agree with in the other article, just because you’re small doesn’t mean you don’t have an entrepreneurial mind or you’re not going to be the next big thing. I LOVE your motto xxx
    Bra Queen recently posted..The Difference Between The Business Owner & The Entrepreneur

  • Love it Renee. I think if you have a vision and plan for your biz that is in alignment with YOU and what’s most important to you, then you’re on a winner. Next step is to make is scalable and then saleable..just in case you want to retire on a tropical beach one day! 😉

    Lisa
    xxx
    Lisa recently posted..SPECIAL ANNOUNCEMENT: New Program for Concious Relationships & Stress-LESS Success

    • Totally agree and such wise words Lisa!

  • I totally agree that it’s important to make that step from being the EVERYTHING in your business to finding a way to make it work without you… a big step for me this year is taking on a couple of staff members to free up my time to work on the really creative stuff, where my passion is. Scary but important! 🙂

  • Hi Julissa!

    How exciting for you and it is such a big but exciting step.

    Enjoy the process

    Rx
    Bra Queen recently posted..The Difference Between The Business Owner & The Entrepreneur

  • Renee, you are so bang on in stating that success is inside all of us it just primarily takes a positive attitude, an ability to see the wood for the trees, realise it does patience and hard work and most important for me when I was setting up my own business, avoiding negative people

  • Thanks Bounteous!

    And how good does it feels when you do? Love it when you ignite that light within!

    Rx
    Bra Queen recently posted..Menswear Inspired Sleepwear

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