When I first attended a seminar about the differences between entrepreneurs and startup founder I was convinced by the answer which was given, and quite an interesting seminar. Well, I will be sharing the differences on both here with my readers on caffinegeeks.
What makes an entrepreneur different from a startup founder? Both individuals are interested in investing on a company, but one will have more responsibility than the another. Most people may not have known that an entrepreneur is completely different from a startup founder but today it will be great for everyone to see the differences.
Entrepreneur Vs Startup Founder
Who is an Entrepreneur?
An entrepreneur is an individual that looks for business opportunities and creates ways to make those businesses become profitable. Entrepreneurs often invest without the major responsibilities of running the companies as they focus more on earning money from them. Entrepreneurs try hard to create a viable business, not one that has a vague hope of succeeding. There are entrepreneurs all over the world. Even in poor areas of the world, people are entrepreneurs as they sell or trade goods to survive.
Who is a Startup Founder?
A startup founder is different from entrepreneurs as they found a startup company. They create a business that will someday become successful. While they sound similar to the entrepreneur, their goal is different. Unlike an entrepreneur, a start up founder doesn’t have a major financial motive. They create a product or a service to change the world. They want to become famous or show others that anything is possible. While there can be a major payday in the future, they do not start off with the goal to make millions.
Differences in Goals
Both individuals need to have a strong personal drive to become successful. If you lack discipline and the ability to work hard, you can find yourself struggling to succeed. With an entrepreneurship, it is vital to create a product and be paid for it. Startup founders often do not worry about the selling process at first as they want to generate larger profits in the future. They go out and approach larger investors and focus on getting their business known. Depending upon the nature of your business, you can become successful online without every making a sale. Utilizing social media and other sites to become popular can help your business to become valuable to a major company or investor, and they will approach you about purchasing the business.
Which one is the best?
There are pros and cons for both areas. An entrepreneur may find himself out of money quickly if the sales are not coming in. They need to have financial backing for the first year or longer as they need to invest money into equipment, employees, and others to start generating products to sell. Some entrepreneurs will work upwards of 80 hours a week just to keep their company afloat.
A startup founder usually doesn’t need to deal with all the financial day-to-day ongoing of the business. However, a startup founder takes a major risk by tying themselves to the company. Their reputation is at stake as they approach others and start marketing the business. If the business fails, the startup founder can lose everything. Their reputation can be destroyed, and it can take years to repair. Some startups will run for several years before they start to create an identity and make money.
Look at your financial situation, personal drive, and motivation, to determine if you have what it takes to become successful as a startup founder or entrepreneur.
Having take a good look at what have been explained here you should understand the differences.