Whether you are an entrepreneur or in business you should understand the subtle differences between the two so that you don’t market yourself incorrectly. When I first started out with an MLM company called It Works Global, I was told that was running my own business and therefore I was considered an entrepreneur. This sounded great to me and made me feel important. After all, my dad has been self employed all his life although I’ve never heard him use the term entrepreneur. My mother was very fond of MLM companies so I got a mix of both worlds as I grew up.
For reasons I wont’ explain here (relevance), I stayed away from business and being an entrepreneur for 20+ of my adult years. Instead, I worked various jobs in order to pay bills. However, at 40 or so I decided to give business and being an entrepreneur a shot.
To see if there are differences between an entrepreneur or in business, we must look at both to make decisions.
a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.
synonyms: businessman/businesswoman, enterpriser, speculator, tycoon, magnate, mogul; More
a promoter in the entertainment industry.
If we look at the phrase “a person who organizes and operates a business or business” we can get a subtle clue at the differences between an entrepreneur or in business. When you organize and operate a business, you are responsible for:
- Product/Service creation
- Research and development
- Materials – ordering and handling (Supply Chain Management)
- Thorough testing
- And so much more
- And way more than this
There are so many important things involved with being an entrepreneur and the risks are very high, I think we can all agree with that, can’t we? Entrepreneurs face a much higher financial risk because he or she must invest capital into his or her business in order to be successful, on all accounts of the above.
The in business side of the entrepreneur or in business question is somewhat different than above.
a person’s regular occupation, profession, or trade.
“she had to do a lot of smiling in her business”
synonyms: work, line of work, occupation, profession, career, employment, job, position
To me, being in business implies doing the work necessary for success. The risks are more centered around the following:
- Job Security
- And more
As you can see, you can be in business as part of the workforce or as an entrepreneur. The risks are a lot lower and more personal while you are in business.
Entrepreneur Or In Business?
The main differences to be an entrepreneur or in business is in the risks involved. An entrepreneur risks so much more than someone in business. While I was with It Works Global, my risk was really only financial and personal. If I failed and made no money, the company itself wasn’t. I didn’t have to worry about marketing It Works because it already had marketed itself. I didn’t have to worry about making or creating more products, that was all on It Works. All I had to worry about was growing my team, teaching them how to grow their teams, and making sales.
Fast forward a couple years and I am now the CEO of Michael M Vasas Consulting, a website, logo/branding, and MS Excel development consulting agency. I have investments made in my business, outsourcing (when or if needed), time, marketing, and so much more to worry about now because the success of my business is completely on me. As I grow my business, I need to keep an eye on trends and try to stay a step ahead, which is not easy. I set the ethics and culture of my business, even though it’s just me working it. If I want to try a new stream in my consulting company, such as media production (videos, pod casting, and etc), it’s on me and me alone to see whether or not the ideas are even viable.
Whether you are in business with an MLM company or an entrepreneur with your own business, you should have a website to promote and gather leads (customers). Let me help you by making this a reality! I offer the following at the most competitive rates you will find in the industry:
- Up to 5 webpages
- Logo and banner design (if you don’t already have)
- SEO (Search Engine Optimization)
- One Facebook page (if you don’t already have)
- Training so that once your website is made, you can update it weekly in as little as 20 minutes
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If you would like a FREE consultation, fill out the form below, grab my free PDF called Website Necessities For the Online Entrepreneur. You’ll get that and I’ll be in touch. Or, click the message box at the bottom right of the screen and I’ll get back to you as soon as I can (usually within a couple hours).