Entrepreneur vs Small Business Owner

Emmanuel Salcedo – Galilei

A small business owner often focuses on known and common products and
services. An entrepreneur focuses on new and innovative products and services. Since
small business owners engage in known business, it offers less risk with a stable yet
minimal income. On the other hand, entrepreneurs will face unknown risks but will
expect rapid growth and high returns if successful. Small businesses are limited while
entrepreneurial ventures may have a significant change in the economy.

Albert Agustin, a bakery owner, is a great example of a small business owner. He

earns a stable profit throughout the years of his business. Steve Jobs, the CEO of Apple
Inc., is a world-known entrepreneur who owns one of the top-selling mobile products.
Both Albert and Steve started a business with a goal of gaining most profit. Albert,
taking less risks, started a business that is known to consumers to make sure that he
gains profit. On the other hand, Steve takes all the risks of starting a new trend in the
market, not knowing if it grows or fails. As a risk taker, Steve takes the challenges as an
opportunity to further empower his business. As a result, Steve’s company has been
continuously expanding up to the present, reaching the top in the market.

The big difference in being a small business owner and an entrepreneur is the
ability of taking risks to reach higher profits. It’s more of like stability against higher
profit. Having more confidence, courage and flexibility is the advantage of an
entrepreneur over a small business owner. Most entrepreneurs have the characteristics
of an effective leader.

To sum things up, entrepreneurs are goal-oriented, motivated, dedicated, flexible

and they have an effective planning skills. While small business owners are prudent,
single-minded and unwilling to take risks.