Are You an Entrepreneur or a Business Owner?
My students often ask what the difference is between business ownership and entrepreneurship. If you want to build passive income, especially using the internet, then it's important that you understand the difference.
I've heard other entrepreneurs say that one must be born with the entrepreneurial spirit and that this energy is not something that can be acquired. Some entrepreneurs say that even a small child shows signs of whether or not they will choose to live an entrepreneurial lifestyle later in life, or become an employee or a business owner.
I tend to see things a little differently, especially when I'm proven otherwise.
I grew up in a country where people still look at me cross-eyed when I tell them that I'm an entrepreneur. Usually they say something like:
“Oh, you're a business owner, right?”
As an entrepreneur I do have a business that I take care of, but the fact that I have multiple streams of income from various sources, along with the fact that I'm not tied down to one income source or even a location, makes me an entrepreneur, rather than a business owner.
Another way of saying it is that people can be business owners but that doesn't automatically make them entrepreneurs.
Most entrepreneurs, however, have multiple businesses that generate multiple streams of income for them. They also enjoy more freedom and tend to work with contractors from around the world, rather than employees.
There are a few more things that set entrepreneurs apart from business owners.
Who has more fun?
Who makes more money?
From my experience entrepreneurs have a heck of a lot more freedom than business owners do! And this is exciting on so many levels.
Can entrepreneurship then be learned?
If so, what makes entrepreneurs generally speaking more successful and higher income earners than any business owner?
Listen to this podcast to find out more, or watch the podcast below.