Is there a line where someone stops being an entrepreneur and start being a businessman? Can a businessman be an entrepreneur or vice versa?
The answer to is that business and entrepreneurship probably have an overlap. A businessman can be an entrepreneur and entrepreneur be a businessman. First let us look at differences though.
An entrepreneur is passionate about something that he wants to create. He for example,
- creates a new product
- creates a new process (for example new way of doing old things)
- Improve existing process( by adding some “new” factor to it).
The entrepreneur first thinks about his creation like an artist who creates the painting first. Selling comes later. Sometime the entrepreneur really does not want to be involved in selling. He is only interested in creating new things.
On the other hand, the businessman wants to leverage what has been created. He is not looking to creating great art or the next big thing. He wants to know if his business will survive the next day or not . He has a hawk eye for sales. He is worried about finance and marketing.
It leads us to two questions
- When does one becomes another?(entrepreneur to businessman or vice versa)
- Is it even necessary to be both?
When does one becomes another?
The entrepreneur needs to think like a businessmen. He needs to determine how and where to sell his products. He also needs to create business plan, manage his enterprise and survive financially. He needs to think like business, if he wants his venture to become a successful business one day.
A businessman needs to become an entrepreneur if he desires to improve his profits by employing new methods or new products. He may improve his business by using social media for example in innovative ways.
Is it even necessary to be both?
Yes, of course. Without the spirit of entrepreneurship. the business may remain a business. As soon as competition arrives, business will need to evolve. It will need to develop new ways of working.
On the other hand, without being business like, an entrepreneur will lose his focus and probably will find it difficult to survive. He needs business skills to sell his product otherwise it will almost become like unsold art.
Both skills are necessary and have a certain overlap .