Are you an entrepreneur or a business owner?

I'm in awe of anyone with the courage to start their own business or venture

A small business owner is a person who owns and runs a business to make a profit. They make the decisions and are first-in-line to claim the profits, with a focus on the community they serve. 

My experience has shown me that a “business owner” might start a venture because they stumble across a great opportunity, they see it as a natural progression, they don’t want to work for someone else, or they don’t know what else to do (as they only have one core skill or craft). 

Incidentally, these are perfectly excellent reasons for starting and running a business. 

However, an entrepreneur is someone who creates and organises a business, with the benefit of taking an opportunity. They’re not necessarily driven by profit but view profit as a way to measure success. Profit is a by-product of their work. 

In my experience, I think entrepreneurs are driven by a passion for doing things better or differently, sourcing or creating new opportunities, or making a real impact (aka leaving a legacy). Generally, entrepreneurs are driven by innovation or pursuing a new idea. 

There is no right or wrong definition here. You can be one hell of a successful business owner, who is perfectly content with your life and business (and raking in the cash). If that’s you – well bloody done. You’re living your dream. 

"At In Cahoots Co, we have clients that fit comfortably into both categories. Some clients are driven by a purpose, passion and the desire to do something new, and others are happy to continue to succeed in their business, focusing on what they do well." 

Personally, I think there’s an innate sense of freedom that comes with being an entrepreneur. You don’t feel obliged to follow the status quo and are generally open to taking chances. You’re less likely to fear failure, although, ironically, probably a little more likely to experience it. You’re also probably focused more on a long-term plan or future, rather than a short-term operational output. 

That said, there’s an incredible sense of purpose and a laser sharp focus that comes with being a more traditional business owner, on being committed to being the best at what you do. In this space, it’s easy to trade “time for money” though, which can be a challenge. 

The purpose of this blog wasn’t to divide the small business community or create a sense of us and them. There is no right or wrong here. 

However, understanding which category you fall into might help you better understand yourself, why you’re starting your venture, and where you want to take it. It can also help you to set boundaries and frame your expectations so that ultimately, you are fulfilled and successful, no matter what you do.

Alli Grant is our communications and storytelling guru here at In Cahoots Co and has owned and run some successful ventures during her career. If you would like to connect with Alli reach out here.