Are You an Entrepreneur or a Small Business Owner?

“I’m an entrepreneur!”

     “Well I run my own business.”

      Both of these are so vague, which is why someone might say them. But what do they mean? What’s the difference between being an entrepreneur and running your own business? And why should you care?

      The thing is, almost everyone who has their own company or who wants to go into business for themselves would probably like to be considered an entrepreneur. They want that cool, romanticized label on them. It just sounds better than saying you’re a small business owner. But here’s the twist – not everyone can actually call themselves that, depending on how their business is set up.

      Many people start businesses thinking they will be entrepreneurs. They think they’ll be their own boss, come up with amazing ideas and make a huge profit. But what really happens is that they often jump into their business head first, not realizing all the responsibilities that go along with it.

      A big part of being a successful entrepreneur is doing the things other people don’t want to do. You have to figure out how to get clients rather than waiting for them to come in the door because you aren’t going to be an employee somewhere anymore. If something goes wrong, you have to fix it instead of finding someone else who’s responsible for the problem. It’s a lot more work than most people realize. Being an entrepreneur means making your own schedule and working from wherever you want – but if you’re just starting out it also means working long days and nights while continuing to put in the time you would have spent at your old job. And if that’s not bad enough, being an entrepreneur means doing all of this while taking on a huge amount of personal risk – no one will pay the rent if the business fails.

      So how do you know which one are you? Are you really ready for what it means to be an entrepreneur or should you settle down on the couch with “Modern Family” reruns instead? Here are some clues:

Are You an Entrepreneur or a Small Business Owner?

     If you still think entrepreneurship is only about creating cool ideas, making money, and living on your own terms, then you might want to reevaluate your dreams. Being an entrepreneur is hard work and if you’re not ready for it, you should probably just run your business like a smaller business owner.

     On the other hand, if that sounds amazing then congratulations – you’re an entrepreneur! It may take years before you become one of those people who can’t imagine working any other way but there’s no doubt that it will be worth it. Just don’t get too attached to the idea that being an entrepreneur means being at home in your pajamas all day while writing code or sewing quilts or doing whatever hobby got you interested in starting a business in the first place!

     If entrepreneurship sounds terrifying, though, then running a successful small business might be the right choice for you. You won’t have to fight tooth and nail just to keep your business alive but you’re also not going to get rich and famous either. It’s a small price to pay though when you consider that entrepreneurship is very risky and that the odds of failure are much higher than most people realize.

So there it is – now hopefully we can leave the vague “I’m an entrepreneur!” statements behind us forever! Are You an Entrepreneur or a Small Business Owner?

      If you want to go into business for yourself, think about what it really means before making any decisions. Entrepreneurship might sound pretty great in theory but if you don’t know what’s involved then you could find yourself in over your head very quickly. On the other hand, if you’re willing to put in the time and effort plus deal with risk and long hours then go for it!

      Before you make any decisions about your business type though, here are some questions for you: Do you want to work hard or hardly work? Are you willing to put in the time regardless of the hours (or lack thereof) that appear on your paycheck? If something goes wrong then who do you have to turn to? These are just a few things that can help clarify whether entrepreneurship is right for you.

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