Are they the same thing? Or are they different?
Peter Thiel talks about lack of innovation in his book zero to one, he says that there seems to be a lack of innovation or "revolutionary" businesses that are out there.
For example as a business owner, you can open up your own car dealership, a private health care facility or a real estate agency. But does that make it entrepreneurial? Or are they simply business owners? Or solopreneurs if they're a one man operation. Because there are so many business owners who are "chasing their passion" and have been for decades and are still not where they want to be. Personal trainers are a perfect example of that. There's too much supply and not enough demand for personal trainers. MJ DeMarco used the village example in one of his older videos on his YouTube channel and says that if there isn't a demand then you should never open it. I agree with that 100%.
But on the other hand, you got companies like McDonalds or KFC who used an existing concept that was not initially invented by them(hamburgers and fried chickens have been on the market long before Ray Kroc and Colonel Sanders were born), but they've made their companies known worldwide. Does that make them entrepreneurs?
Same deal with many existing companies today like Apple. Apple was not the first computer nor did they create the first smartphone, but they changed the way we use our technology immensely. Steve Wozniak is probably the most influential many that's currently living as of now, Apple has revolutionized technology. Same with Amazon or Google. They weren't the first but they made their products so good that consumers couldn't find an alternative? Is this what entrepreneurship is all about? How does it differ from being a business man?
There seems to be some overlap with being a business owner. But at the same time, there are so many business owners who are solopreneurs like many real estate agents or doctors who make decent income, usually between $100k-$500k a year. Sure, they may have a receptionist or a customer service rep but that's it.
Maybe because entrepreneurs are not only focused on profits but also about creating solutions? Like creating a brand, career opportunities, creating a legacy etc. Whereas business owners are solely focused on profits. Buy low, sell high, the rest doesn't matter. What's the difference between a real estate investor like Donald Trump or Manny Khosbin and your typical real estate investor next door named Joe? Does that make them fastlaners too?
Or are they really the same thing?
EDIT:
Peter Thiel talks about lack of innovation in his book zero to one, he says that there seems to be a lack of innovation or "revolutionary" businesses that are out there.
For example as a business owner, you can open up your own car dealership, a private health care facility or a real estate agency. But does that make it entrepreneurial? Or are they simply business owners? Or solopreneurs if they're a one man operation. Because there are so many business owners who are "chasing their passion" and have been for decades and are still not where they want to be. Personal trainers are a perfect example of that. There's too much supply and not enough demand for personal trainers. MJ DeMarco used the village example in one of his older videos on his YouTube channel and says that if there isn't a demand then you should never open it. I agree with that 100%.
But on the other hand, you got companies like McDonalds or KFC who used an existing concept that was not initially invented by them(hamburgers and fried chickens have been on the market long before Ray Kroc and Colonel Sanders were born), but they've made their companies known worldwide. Does that make them entrepreneurs?
Same deal with many existing companies today like Apple. Apple was not the first computer nor did they create the first smartphone, but they changed the way we use our technology immensely. Steve Wozniak is probably the most influential many that's currently living as of now, Apple has revolutionized technology. Same with Amazon or Google. They weren't the first but they made their products so good that consumers couldn't find an alternative? Is this what entrepreneurship is all about? How does it differ from being a business man?
There seems to be some overlap with being a business owner. But at the same time, there are so many business owners who are solopreneurs like many real estate agents or doctors who make decent income, usually between $100k-$500k a year. Sure, they may have a receptionist or a customer service rep but that's it.
Maybe because entrepreneurs are not only focused on profits but also about creating solutions? Like creating a brand, career opportunities, creating a legacy etc. Whereas business owners are solely focused on profits. Buy low, sell high, the rest doesn't matter. What's the difference between a real estate investor like Donald Trump or Manny Khosbin and your typical real estate investor next door named Joe? Does that make them fastlaners too?
Or are they really the same thing?
EDIT:
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Last edited:
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
