Often, when venturing into the business world, there is constant jargon thrown used like: Entrepreneur, Start-Up Founder. Many do not realize that an entrepreneur and start-up founder are two different entities. For this reason, we will bring some clarity to the two terms. Every start-up founder IS an Entrepreneur but not every entrepreneur is a start-up founder.
Who is an entrepreneur?
The meaning of success is different for the entrepreneur. When the entrepreneur makes money, many of the time, it doesn’t make sense. However, as we shall read below, the start-up founder is wired a tad different.
Who is a start-up founder?
Beginning with the start-up founder, their goal is to find companies to jump start. They usually come up with an idea, product or service that is not readily available or common. Their goal is not necessarily financially motivated. The focus is on changing the world, becoming famous for making a difference. The start-up founder wants to set an example and show others that dreams can come true. A social media site would be considered a start-up company.
On the other hand, the Entrepreneur, has a major financial motivation. Their focus is usually on money and finances and they often invest without actually running the company. The entrepreneur attempts to create a viable business as opposed to one that has a vague hope at succeeding. Oftentimes, we will also see people that reside in poor economic environments become entrepreneurs, such as street vendors because they are basically buying and selling goods.
A significant difference between the entrepreneur and start-up founder is closing the deal. Business is not finished unless the loop of creating an item, producing and delivering the item to the customers and getting paid for the project is complete. For the entrepreneurs completing and closing this loop is necessary and important for ensuring ultimate profit but start-ups are not always bothered with this, which is the reason why many starters can end up in a huge amount of debt as well.
An online shopping site would be considered an Entrepreneurship. The Entrepreneur will invest their money in a business and make it grow so they can double their invested money. Both the start-up founder and the entrepreneur need discipline and drive to succeed. Start-up founders are more interested in future payouts they work towards building their future brand and fame. There are no real final motives as opposed to the entrepreneur, their motive is strictly financial.
As with everything else, there are always pros and cons to being a start-up founder and an entrepreneur. The financial risk for entrepreneurs is big. They may run out of finances quickly if sales are not coming in, they often need financial backing to invest in equipment, etc. and there are long hours. A start-up founder does not need to deal with day-to-day finances, their risk is tying themselves to a certain business where their reputation will be at stake, their brand will be at stake. The start-up founder can lose everything, they may run the company for years before they ever see a profit. However, both the start-up founder and entrepreneur are viable options depending on what your drive is and what you are trying to accomplish in your business plan.
Written By David-K. Bradley @dbrad_theshow
3 Responses
Good luck!
Hi! Thanks for taking the time to read through our blog post!
Have you thought about if you are a startup founder or an entrepreneur?
You may also read our other articles on the link:
https://halealliance.com/blog/
It is very comforting to see that others are suffering from the same problem as you, wow!