It can be quite difficult to clearly explain the difference between a business and an entrepreneurial attitude. As this is something I have been reflecting on a lot recently, I would like to share my draft outcome with you.
In my opinion, what distinguishes a Businessman from an Entrepreneur is the mental model (way of thinking): a Businessman is more an ‘Analytical Thinker’ while an Entrepreneur is more a ‘Possibility Thinkers’.
For example, a Businessman typically prioritizes ensuring the company’s profitability over fostering innovation. On the other hand, Entrepreneurship emphasizes creating fresh value, encompassing social, emotional, aesthetic, and financial dimensions.
I plan to delve into the intricate concept of value as it requires detailed exploration. For now, it is crucial to recognize that, for an entrepreneur, Value goes beyond mere profit and includes intangible yet personally fulfilling aspects of business operations.
Moreover, while a Businessman focuses on incremental improvements within the current framework, an Entrepreneur envisions future possibilities and strives to turn those visions into reality. This forward-thinking approach not only involves greater risks but also promises higher returns upon successful execution.
In essence, the primary focus for a Businessman involves:
- Business administration
- Pursuit of immediate truths
- Logical, linear thinking for incremental progress
- Emphasis on factual data and verbal communication
- Minimal risks with predictable outcomes
- Smaller rewards centered on profit generation
On the other hand, the primary focus for an Entrepreneur includes:
- Business innovation
- Pursuit of intriguing prospects with a long-term vision
- Holistic thinking for significant leaps forward
- Emphasis on emotional and visual cognition
- Willingness to embrace risk and uncertainty
- Potential for substantial rewards driven by value creation
