Article

Business

by Muhammad Bilal

A businessman sees the world as an opportunity. He sees it as an opportunity to make a living. He also sees it as an opportunity help the people living on it.

An entrepreneur sees the world as a duty rather than an opportunity.


How he defines success?

A businessman defines success as the success of his business and its stakeholders. Its stakeholders include himself, co-owners, employees, customers, investors, and even his community.

An entrepreneur doesn’t define success. He simply do his job and let history defines the success that he accomplished.

Remember that this list is only according to my own opinion, and I don’t mean to put one of them on top of the other. Both businessmen and entrepreneurs are supposed to be the kind of people that our world needs. A businessman needs an entrepreneur. An entrepreneur may also need a businessman. There can also be a person who is partly a businessman and partly an entrepreneur.


REMEMBER!

This list is only according to my own opinion, and I don’t mean to put one of them on top of the other. Both businessmen and entrepreneurs are supposed to be the kind of people that our world needs. A businessman needs an entrepreneur. An entrepreneur may also need a businessman. There can also be a person who is partly a businessman and partly an entrepreneur.


Why Become an Entrepreneur?

The three primary reasons that people become entrepreneurs and start their own firms are to be their own boss, pursue their own ideas, and realize financial rewards. 


Be Their Own Boss:

The first of these reasons—being one’s own boss—is given most commonly. This doesn’t mean, however, that entrepreneurs are difficult to work with or that they have trouble accepting authority. Instead, many entrepreneurs want to be their own boss because either they have had a longtime ambition to own their own firm or because they have become frustrated working in traditional jobs. 


Steve Jobs is perhaps America’s best-known entrepreneur. He cofounded Apple Inc. in

Steve Jobs is perhaps America’s best-known entrepreneur. He cofounded Apple Inc. in 1976, and has since built the company into a premier entrepreneurial firm. Apple’s latest innovations include the widely popular iPhone, iPad, iPod, and Apple’s App Store and its iTunes music store.


Pursue Their Own Ideas:

1. The second reason people start their own firms is to pursue their own ideas. Some people are naturally alert, and when they recognize ideas for new products or services, they have a desire to see those ideas realized. 

2. This chain of events can take place in noncorporate settings, too. For example, some people, through a hobby, leisure activity, or just everyday life, recognize the need for a product or service that is not available in the marketplace. If the idea is viable enough to support a business, they commit tremendous time and energy to convert the idea into a part-time or full-time firm. In Chapters 2 and 3, we focus on how entrepreneurs spot ideas and determine if their ideas represent viable business opportunities.


Pursue Financial Rewards:

Finally, people start their own firms to pursue financial rewards. This motivation, however, is typically secondary to the first two and often fails to live up to its hype. The average entrepreneur does not make more money than someone with a similar amount of responsibility in a traditional job. The financial lure of entrepreneurship is its upside potential. People such as Jeff Bezos of Amazon.com, Mark Zuckerberg of Facebook, and Larry Page and Sergey Brin of Google made hundreds of millions of dollars building their firms. Money is also a unifier. Making a profit and increasing the value of a company is a solidifying goal that people can rally around. But money is rarely the primary motivation behind the launch of an entrepreneurial firm. 


A Technopreneur is an ENTREPRENEUR who is Technology Savvy, Creative, Innovative, Dynamic, Dares to be different, Take the unexplored path and Very Passionate about their WORK.


You have got to start with the CUSTOMER EXPERIENCE and work back towards the technology – not the other way around.


There are many misconceptions about who entrepreneurs are and what motivates them to launch firms to develop their ideas. Some misconceptions are because of the media covering atypical entrepreneurs, such as a couple of college students who obtain venture capital to fund a small business that they grow into a multimillion-dollar company. 

Let’s look at the most common myths and the realities about entrepreneurs.

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