Start Up founder or an Entrepreneur???
Running any commercial enterprise is an issue of a whole lot dedication, approach planning in addition to having an eye fixed for element. With right conceptualisation of your ideas, you can ensure that the company flourishes. There are specific kinds of commercial enterprise. While a few are termed as Start-up founders, and some are called entrepreneurs. It’s notable reality that each one start-up founder is not entrepreneur and there are certain essential differences between the two.
Generally there are lots of confusion and misconception about being an entrepreneur and a start-up founder!
What is an entrepreneur?
Term “Entrepreneur” was given by French Economist Jean-Baptise in 19th Century! It is defined as “one who undertake an enterprise and act as inter-mediator between Capital and Resource”
If we generalise this definition!
An entrepreneur is one who finds profitable business opportunities. And then, set & create a business system around those opportunities to create profit!
Entrepreneurship, often has association with creating with financial gain. Though entrepreneurs are classified as internal entrepreneur and social entrepreneur. But prime objective of entrepreneurship is to creating financial profitability!
What is a start-up???
Start-up founders or are almost same as entrepreneurs but with only one major difference. Objective…
As said earlier; entrepreneurship has prime objective of creating financial profitability. Whereas start-up keep this objective often secondary. Their prime objective is always to cater an innovative business strategy that apparently does not seem an ideal idea for business.
Start-ups are more into innovative inventions and creation of new revolutionary idealistic motive in most situations.
Some Basic Differences
Basic fundamental difference between Start-up and Entrepreneurs is goal, but! That is not the only difference.
Another fundamental difference between two is the EXIT PLAN or Closing the Loop. No business module is viable until and unless you create a proper circle/loop between your businesses value, deliverance to the customer and obviously profit.
Though one have to be clear about the fact that startups loop works specifically in the exact order, i.e. Creating Value – Delivering Customers and Profit will always come in Last.
Factors to consider
often, there is confusion between start-up founder and entrepreneur. But the laughable confusion is with small business. Small business owners often consider themselves as either start-up founder or entrepreneur. Let us sum it up for you!
Entrepreneurship or startup, both need new and creative idea. Whereas small businesses are generally, privately owned partnership, proprietorship or corporation.
You are a small business owner if:
- You’re a member of Chamber of Commerce.
- You’ve family business passed down through generations.
- You sell or manufacture a product.
- You work 100 percent or even 120 percent at your small business. In short it is your full time job.
We hope, now you know the difference. so can you tell is any XYZ is a start-up founder or an entrepreneur of merely a small business owner!
Team Patna Diaries always welcome creative idea and initiative. so, whether you are a Start-Up founder or an entrepreneur. We would love to help you become successful in what you do.