Is It An Itch Or Is It A Burn?

The difference between a business owner and an entrepreneur.

Entrepreneur or business owner?

In today’s Western World, being an entrepreneur seems to be the “in-thing”.

So much so that according to research by the Babson College team of the Global Entrepreneurship Monitor (GEM), more than 31 million entrepreneurs are in the United States alone.

But when asked questions about the people they serve or how they help people – very rarely can they tell you who, what, and how…

It is almost as they want to be an entrepreneur but not really sure why.

“I hate being an employee”
“I want to work from home on my own terms”
“I have this great idea that will change everything!”

Sound familiar?

But what if I told you that, being an entrepreneur and being a business owner are different…

Do you know the difference?

You’re probably thinking “no, they’re the same thing”…

Wrong.

Entrepreneur vs Business Owner?

If you look up business owner, it will tell you;

Business Owner

 

Now let’s look up Entrepreneur;

entrepreneur | Is It An Itch Or Is It A Burn? | LY2NK Foundation

 

At first glance, this does appear to be very much the same.

Comparing the two are slightly different…

“Individual or entity who owns a business entity” vs “A person who sets up a business or businesses, taking on financial risks in the hope of profit”.

Tim Ferriss described the difference beautifully in a recent Jocko Willink interview (you can check it out here).

“Entrepreneur is a mindset. You don’t have to start a company to be an entrepreneur”, “If you look at the Spanish equivalent emprender, it is someone who makes things happen. You can innovate within a company that is not your own or you could start your own”.

So what does this mean exactly?

If you are one of the 31 million entrepreneurs are in the United States, start asking yourself;

 

What do I mean by that?

If you have the desire that no matter how many failures, how many naysayers, or obstacles you have to overcome – You will do it!

Learning from your mistakes…

If you have trained yourself to see opportunities where others don’t and act upon it…

That is the entrepreneurial mindset.

Now if you have an itch, there is nothing wrong with that.

It doesn’t have to stop you from owning a business full of entrepreneurs who do all the innovating for you – does it?

Comment below 🔥 if you feel the burn.

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