Are you an entrepreneur or a business owner?

What’s the difference between entrepreneurs and business owners?

It may sound like semantics, but the way you view yourself can say a lot about how you run your business.

You’re a small business owner if

  • You sweat the small stuff

Do you lay awake at night thinking about how to present a strong business case for some new software? Or how to ensure your next hire sticks around? Small business owners are concerned with the minutiae of their businesses, from admin to HR. And with good reason – by keeping an eye on the details, you can ensure that your business doesn’t end up over budget and under pressure.

  • You keep it local

Do you see your business as an essential part of the community? Do you dream of opening more premises in your area? Business owners are people who have found a profitable niche and built on it. They don’t dream of going global, or making billions – rather they spend their time thinking about how to make their business the best it could be. If lofty targets and aspirations strike you as silly, you’re a business owner in your bones.

  • Your business is your baby

You don’t have a list of business ideas competing for your attention – your entire attention is on your current company, and you could still see yourself working on it in twenty years time. If the thought of selling up makes you come out in a cold sweat, it’s a sure sign that you’re a business owner rather than a entrepreneur.

You’re an entrepreneur if

  • You dream big

You’re convinced that your business can make millions, and you’re willing to take risks along the way. You can be ruthless in your pursuit of the big time, and have no qualms charming investors in order to raise finance. In fact, the more investment the better as far as you’re concerned  – you need to spend money to make money!

  • You’re already thinking about an end goal

If you’re already thinking about selling your business for a profit, you’re definitely an entrepreneur. Whilst your work is everything to you, if your current business failed you’d get straight onto the next idea. You believe in your ideas, but you aren’t emotionally tied to them, and you’re confident in your own resilience.

  • It’s in the blood

If you’re a true entrepreneur, you’ve likely been thinking of business ideas since you were young. The idea of working for somebody else has never appealed to you – you always knew that you’d end up striking out on your own someday. This business is unlikely to be your first, and the way you see it, failure comes with the territory.

Understanding what sort of businessperson you are can help to provide insight into why you act the way you do, and how to act consistently with your values in future. Perhaps you’re a small business person who’s trying to be an entrepreneur, or an entrepreneur stuck in a small business model.  So which one are you? Let us know on Twitter.

What’s your management style? Take the quiz now…

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