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:
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