Are entrepreneurs and small business owners the same?

Ever wondered the difference between small business owner and entrepreneur?

Both are used interchangeably a lot but there is a huge difference. Entrepreneur can be a small business owner. However, small business owner doesn’t need to be an entrepreneur. Let me explain. Entrepreneur brings value to the market where as small business owner offers value to the market. Therefore, small business owner doesn’t need to create value as long as he knows there is value in something then he can offer that to the market. Small business owners primary motive is profit where as entrepreneurs’ primary motive is creating value.

Entrepreneurs are insatiable creatures. Their hunger is to make a difference in the world the best way they know possible. They may fail 100 times but they will try again 101th time to make a difference. Because they are not driven by profit they can’t see any venture as black or white.

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Why Vision is so important in business or life?

One thing that differentiate a massively successful business and not so massively success business is its owner’s vision for that business.

Setting a vision to the business provides direction. That automatically enables focused efforts towards the same goal. It eliminates unnecessary run around and wasting valuable time on things that are not important to your business. Your concentrated efforts create momentum and your targeted clients and customers start to see you. That provides more opportunities to deliver quality service or products. Delivering on your promises enable your business to generate trust. A business that has generated trust in their customer’s mind would soon go on to create wealth.

It sounds simple but there is a lot of efforts need to put together to get to that stage. First and foremost thing is for the business owner to work on his own personal journey and set his long term goals. Use that passion discovered in that journey to create a business with a realistic vision – a vision that is actually satisfying a unmet need in the market place. Only through research one can find out the unmet needs in the market.

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