The Key Differences Between Business Ownership And Entrepreneurship

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Often in today’s culture the words business owner and entrepreneur are used interchangeably. After all, both refer to someone who runs a business right? Well, yes, but the title business owner has never quite captured the spirit of entrepreneurship to me. The word entrepreneur makes me think of someone who casts big visions, takes risks, and stands up to try again each time they stumble.

Are you stuck in the world of business ownership and craving the time and resources to become a true entrepreneur? Business ownership is an exciting and rewarding path, but entrepreneurship is a far more transformative and enlightening title. Here are some tips that may help you make that transition.

Let Go of the Busy Work

Whether you are a company of one, or you have a staff of 100 people, we all have to learn how to delegate the small things so we can focus on the big things. You’ve heard of the concept: working on your business not in it, this is exactly what that means. This is easiest when you have employees to delegate important tasks to. If you’re still a team of one, you’ll have to get a little more creative. For instance, instead of keeping your own books, you could hire a professional bookkeeping service. Or instead of spending hours coming up with a witty social media post to promote an upcoming sale, you might consider hiring an intern who can manage these tasks for you. The more busy-work you delegate, the more time and energy you have to be entrepreneurial.

Don’t Be Afraid to Dream Boldly

Once you cleared your plate of all the busy work that was taking up your mental and emotional space, you’ll have to fill it with something. But where do you begin when you’ve been thinking small for so long? Take time to sit and think deeply about what you want from your business. Not sure where to go next? Research your competitors or find a need that your clients have and set about to fill that need. You don’t have to pursue each of your dreams, but big dreams beget big dreams, and the more you get in the habit of dreaming boldly the more confident you will become.

Execute Even When You’re Scared

Even at your most confident and most successful you will continue to find new challenges. And no matter how long you’ve been in business, there will always be things that scare you. That’s ok. What’s most important is that you don’t let fear paralyze you from making progress. Entrepreneurs are always working toward something that scares them, so do yourself a favor and hold yourself accountable whenever you find yourself getting too comfortable.

The journey of an entrepreneur ebbs and flows, don’t expect perfection from yourself at every turn. But, if you want to transition from simply running a business to living the life of an entrepreneur you’ll need to peel yourself out of your day job, start dreaming boldly, and make big moves especially when you’re scared. f you’d like to learn more about entrepreneurship or if you’re looking for help managing your business’ finances, feel free to contact me any time.