Archive for July 2019

Business Owner vs. Entrepreneur: Which One Are You?

Small business owners are known as the glue that holds American communities together. Entrepreneurs are often thought of as the person with big ideas and unquenchable passion. But is it possible to be both? The answer is yes.

If you are a small business owner, you are also an entrepreneur. It doesn’t matter how big or small your business is. Small business owners and entrepreneurs both build, run, innovate and advance their businesses. Take a closer look at just a few of the things they have in common:

Both focus on the big picture

Business owners and entrepreneurs both play a huge role in managing day-to-day operations of their business. At the same time, they are both passionate about their business and keep the bigger, long-term picture in mind. Entrepreneurs are typically applauded for constantly innovating, but small business owners must also be incredibly innovative – most are just unaware that they are doing it. Running a successful small business requires you to always know your customers needs, wants and desires.

Both are vested in their success

People usually think of an entrepreneur as being the one that is highly invested in the future, both financially and emotionally. But small business owners are just as invested in their success as the entrepreneur. Small business owners are known for being resourceful; they must fund their business in some way, for example. Whether it be through personal savings or alternative options like a high risk business loan. Both devote their time and efforts into their business to help it grow, from working long hours and seeking flexible business funding to making personal sacrifices and tough decisions.

Both have tomake hard decisions

Both entrepreneurs and business owners have toknow what they want for their business and have the confidence to make hard decisions. They both also understand that if they fail, it is an opportunity to learn and improve their decision-making process. They also share the ability to have thick skin; this allows them to effectively handle difficult situation, encounters with employees and customers and be polite when setting boundaries.

If you are a small business owner, you likely already possess the same traits and characteristics associated with being an entrepreneur: passionate, innovative, devoted, decision-maker, and a solid problem-solver.In the end, owning a business is not constrained by a single definition. You are ultimately defined by your hard work, determination and innovative nature.

Author Bio:As the FAM account executive, Michael Hollis has funded millions by using business funding high risk business loan solutions. His experience and extensive knowledge of the industry has made him financeexpert at First American Merchant.

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