Do you want to become an Entrepreneur or a Businessman‪?‬ Neminathan Barath

Do you want to become an Entrepreneur or a Business Man?

Most people do not differentiate between a Businessman and an Entrepreneur.

This is Neminathan Barath, Founder of Impactful Businessman. I am going to talk about the differences and also going to break a lot of myths about a normal business and an Entrepreneur.

Every Entrepreneur is a businessman but

Not Every Businessman is an Entrepreneur.

Broadly we can define a Businessman as a person who does something on his own or through his team and delivers a product or service to customers and makes money.

Anyone can become a businessman if he has the willingness to do so and if he has the necessary financial capacity.

A businessman is one who sets up a business that is already being done by someone or many people.

He either sets up in the same model as others or he adds in some flavour on his own and then differential himself from others and becomes successful.

A Businessman is solving a problem which has been already solved by some other businessmen.

But an entrepreneur is one who is trying to solve a problem that has not solved by another normal businessman.

Entrepreneur tries to find new problems which are very painful but still there is no solution exists till now.

He is attempting with his courage and commitment and confidence that he can be able to solve that unsolved problem that has been existing over a period of time

If an entrepreneur is successful in finding out the most appropriate solution, then he has a huge probability of scaling to great heights since literally there is no competition

A Businessman need not be creative or innovative

But an Entrepreneur MUST be creative and innovative

We can say a Businessman has a 50- 50 chance of becoming successful and hitting his profits if he is implementing the right strategies adopted by his fellow businessman

But an entrepreneur has only a 3 to 4 % chance of his start-up being successful

As per the prevailing data, though only 3 to 4 % of start-up survive over a period, the Entrepreneur never fails at any point of time as has already become a person who has acquired large scale experience/exposure in that specific field with which he can pivot himself and start a new start-up company again

Angel Investors or Venture Capitalists do not FUND businessman

But they invest in a Start-up founded by Entrepreneur

Employees working under a normal businessman have limited exposure and playing field.

Whereas employees working under Entrepreneurs are given full freedom and are more exposed in various fields.

Govt of India through its Start-up India program has extended a lot of facilities and exemptions for Start-ups companies. Banks extend loans to Startups without any collateral or Security.

Whereas normal Businessmen do not get these benefits or exemptions. Also, they can seek loan from banks only with collateral.

Also, there is various forums/accelerators/ Startup community existing for encouraging and supporting Startup Founders.

Start-ups can able to fixup pricing on their own depending on the market acceptance and demand

Whereas Normal Business has to fixup pricing only as per the prevailing rates to compete with already existing players in the field

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Thanks for listening to this podcast and see you in my Next podcast.