Are you an entrepreneur or business owner?
I own and operate a business, which does not make me an entrepreneur.
Entrepreneurs own businesses too, but their approach is much different than a business owner.
A business owner like me will look at existing purchasing behaviors and align the business to serve that behavior. The focus is to capitalize on what is already happening.
Entrepreneurs look at the marketplace differently; they look to change consumer behavior.
When Steve Jobs and Apple launched the iPhone, they weren’t interested in capitalizing on how we used our phones. They were focused on how the portable device could be used to change our lives.
Why is this difference important to business owners? As we seek ways to improve our businesses, we’re often given lessons from entrepreneurs. The problem is their approach to market is not our approach. If we don’t know that, we invest time and energy trying to emulate something we shouldn’t.
I would love to hear your thoughts. Are you an entrepreneur or business owner? Or do you feel they’re one and the same?
PhilTakesSM are distributed twice a week on LinkedIn, Facebook and philyale.com. Review previous posts and locate additional information on the PhilTakes tab on philyale.com, and invite Phil to speak to your business group or service club.