Is Entrepreneurship Self-Employment?
There comes a time in your business when you have to make a decision on whether you will continue to be self-employed or you will become an entrepreneur.
Owning your own business does not make you any less of an employee. The only difference between you and your employees is that you answer to another more demanding and stricter boss, yourself.
Unlike your employees. You are not guaranteed of a paycheck. Yet you have to be the one to carry your company’s mission on your shoulders.
So, what makes the difference between a real entrepreneur and a self-employed business owner? The difference is in the mind. Both the entrepreneur and the self-employed will have to carry out the same tasks and be in charge of their businesses. However, an entrepreneur’s perception of the business world is very different from that of someone who is self-employed.
A self-employed business owner will strive to do everything by him/herself. They don’t trust other people to do the job as well as they would. They are also trying to minimize costs and increase profits. They seem to have everything within their reach.
Entrepreneurs, on the other hand, realize that they cannot do everything by themselves. They have to find a team of people who outsmart them in various areas, delegate some duties to them and hold them accountable for their actions.
Entrepreneurs realize that running a one-man brand impedes your growth.
Self-employed find security in owning everything. Entrepreneurs want to own as little as possible but control everything. And that is just the start, to know what actually differentiates an entrepreneur from a self-employed person, let us examine the characteristics of an entrepreneur.
Entrepreneurs Take Risks in Order to Achieve Their Dreams
Am not talking about gambling here. Entrepreneurs take strategic risks. They know that any level of greatness they wish to have will come with risks. Some of these risks come with great personal sacrifice but they are still willing to undertake them.
An entrepreneur knows that they are more likely to regret a risk they didn’t take than a risk that cost them. They don’t shy away from failure and adversity.
While most people let the fear of failure stop them from putting their idea to work, entrepreneurs know that failure to try in itself is a failure.
Entrepreneurs realize that sometimes in business you will win, sometimes you will take home lessons that will help you grow in the industry.
Most of the successful people we see today did not become so through their first ever attempt. They have fallen many times but they chose to be persistent, with time their persistence wore down the obstacles they were facing.
Look at some of the successful people today, Oprah Winfrey and Albert Einstein were told they were not good enough, that they did not stand a chance.
Even great entrepreneurs like Cornel Sanders, Steve Jobs and Richard Branson. Have failed before. But they all learned from their mistakes and let adversity strengthen them rather than letting it crush their spirits or dampen their vision.
Entrepreneurs Don’t Stay in Their Comfort Zone
An entrepreneur knows that great success does not come from staying safe. They keep learning new approaches, and strategies in order to increase their chances of getting more results. Their vision drives them to continually aim higher and reach further toward their goals even when it means pushing the boundaries of their comfort zones. Discomfort and great chaos breed meaningful growth.
Entrepreneurs Are Not Just Dreamers, They Also Do
Fear can make you more of a dreamer and less of a doer. While entrepreneurs engage in a certain level of dreaming, they are aware that achieving their goals will require more than putting their dream on paper and pinning it on a vision board. They know that success calls for daily action, sometimes massively courageous actions and they are willing to take it.
Entrepreneurs Are Global Thinkers
Entrepreneurs realize that serving others on a larger scale will bring more benefits and money. they think globally, identifying problems and finding solutions to serve people all over the globe and continually increase their market reach.
Major take always
- Entrepreneurship and self-employment are often seen to be one and the same thing. Although they share the similarity ow owning a business, their paths lead down completely different paths.
- Entrepreneurship and self-employment differ in terms of economies of scale and revenue generated. As a self-employed business person, you can become a consultant and build a portfolio through
- gigs. As an entrepreneur, you would build a firm and offer products and services.
- Most business owners are self-employed. They start off with a set of skills and realize that there are opportunities to make money. this is here they start walk down the wrong path and soon enough, they are smothered in numerous hours spent trying to keep the business running.
- Most people, even though they own a business, are still employees in their own rights. The self-employed choose to take on the responsivities of ordinary employees while entrepreneurs choose to delegate. The self-employed are therefore overworked, underpaid and rarely take timer from their business.
- Entrepreneurship on the other hand is about taking risks and reaping the rewards for that. Entrepreneurs think outside the box, come up with ways to succeed and move on to the nest venture.
- In short entrepreneurs are flexible, confident, creative and passionate while self-employed business owners are hardworking, goal oriented, good communicators and quality conscious.
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Hannah Muchuki Githuki