Business vs Entrepreneurship

Business vs Entrepreneurship

Currently, the world is fascinated by the term entrepreneurship. There has been a wave of entrepreneurship generated in Nepal and the Indian subcontinent in the last decade and is expected to be a great domain in the coming decade. Are we actually understanding the difference that exists in the two terms: business and entrepreneurship?

The business aims to make a profit and that remains the sole goal. While entrepreneurs aim to make profits, they rise with the aim to make some difference in society or lives. Entrepreneurs want to address some sort of existing problem. The Business might not provide unique solutions to community issues, but entrepreneurship is driven by this very factor.

Entrepreneurs invest their energy, time, and resources in the model that is primal. Taking up the franchise, or running a business that can generate profit is the main focus of businessmen. The risk factor that is involved in a business is completely calculation-based, so maths is the crucial aspect. Exactly opposite is the scenario of entrepreneurs where they have to dive into the seas full of risks. Acting upon the risk is key in entrepreneurship.

Looking at most entrepreneurs it is vivid that the investment of time and money is lengthy, no idea grows, and gets financial or market return fast. But businesses can act fast generate revenue and grasp the market sooner. An entrepreneur requires to have inspirational and artistic influence, in contrast, o which businessman requires managing, and analytical skills.

A businessman is supposed to be an Analytical Thinker, while the Entrepreneur is thought of as a Possibility Thinker.