Although the difference between a businessperson and an entrepreneur tends to be relatively narrow, there are aspects where the two differ. If we were still living in medieval times, a businessperson would be a merchant and an entrepreneur would be an inventor. Merchants sold goods, food, services, etc. Inventors created something new like the agricultural system to improve the harvest, and of course, earn money from their creations.

The CEO of Impact Hub Yerevan, Gevorg Poghosyan, says that the difference is that the entrepreneur creates a unique value while earning money. But to make it more clear let’s uncover other approaches that differ between businesspeople and entrepreneurs:

1️⃣ Objective

Businesspeople run their businesses for the primary purpose of making profits. Entrepreneurs intend to make profits but with the purpose of making a difference. They want to change the world by addressing a problem. They are passionate about providing unique solutions for problems in the community.

2️⃣ Uniqueness that stands out

A businessperson might run a business that might be based on a concept that is not original or unique. Businesspeople invest energy, resources, and time to run the business based on an already existing model.

On the other hand, an entrepreneur is someone who invests energy, resources, and time to build a model that is original and was created from scratch. Even if it’s an existing product, they give a unique spin to it, thus carving out a niche space for it.

3️⃣ Risks

The complexity and severity of risks that businesses take are based on calculations. This means that businesses take risks based on math. They take risks after gauging the results of several analysis tests. They act before the risk to meet these risks.

Entrepreneurs, on the other hand, skydive into risks. They are crazy risk-takers who would rather act on the risks to overcome them.

4️⃣ Time invested to achieve goals

Businesspeople act fast. The aspirations of business owners are grounded on what immediately lies ahead of them. Since they are more concerned about everyday operations they are always on their feet.

Entrepreneurs have a vision that extends beyond the present and into the future. They work towards goals that are not just for that year but for the long term. So they work it out like art and might be slower than businesspeople.

5️⃣ Leadership traits

An entrepreneur is inspirational, innovative, artistic, perseverant and influential. They would generally work with or hire people who have an aptitude or potential skills. A Businessperson is an adept planner, a knowledgeable manager, and a result analyst who keeps things in control and has a clear sense of direction. They work with/hire people based on traits and knowledge.