Businessman and entrepreneur are the same terms there is no difference as most of the people have mistakenly believed that both of these terms have the same meaning. But in reality, there is a lot of difference between businessman and entrepreneur.
A businessman is a person who sets a business around a derivative idea whereas; the entrepreneur is a person who visualizes the idea, product, and services and become the leader in the market says a real estate entrepreneur Andrew Allison Boystown Chicago.
He had mentioned some differences that identify the two on the basis of their parameters, which are given below:-
· Attitude
Businessman grabs the business opportunity and works to succeed whereas an entrepreneur is a true inventor.
· Time factor
For businessmen, time is money that's why they hate wasting time whereas an entrepreneur does not worry about the time spent in producing the best idea possible.
· Employees
Businessmen act as a manager and they take full control of their actions while entrepreneurs are hired to grow their businesses and they are invited to be a part of their growth journey.
· Character
Businessmen are the doers and they are generally impulsive in nature whereas on the other hand, entrepreneurs are thinkers and they put lots of efforts and time in developing an idea.
· Competition
Businessmen do not like competition and they consider competition as a threat and they take every attempt to alleviate them. Based on his research, Andrew Allison Chicago says that a businessman has to face extreme competition because he has to make a place for his product in the already existing market whereas on the other hand, entrepreneurs welcome threat and they feel that competition will enable them to innovate and refine their ideas.
· Money
Entrepreneurs do not run after money and they always know that they can always start afresh while businessmen's biggest fear is losing money.
· Success
For a businessman, success is measured by profit. The more profitable their business is, the more successful they become whereas an entrepreneur judged on two important parameters which include their history and wealth.
· Nature
Entrepreneurs are the true adventures and for the business is like an experiment whereas, on the other hand, businessmen believe in reality.
Thus, Andrew Allison Boystown Chicago says that a businessman is a businessman whereas an entrepreneur plays multiple roles which include the role of an organizer, a risk taker, leader, and a manager at the same time. He further stated that a businessman focuses on the competition whereas an entrepreneur focused on the cooperation and coordination of all the resources.