Just another taxable entity?

Which do you consider yourself, an entrepreneur or business owner?

I’m not asking you how you would label yourself; instead I’m referring to your philosophies, how your mind works and how you make decisions.

You see, there are fundamental differences between entrepreneurs and business owners. These differences impact everything, from how you operate your business to how you view challenges and opportunities.

My experience, spanning 15 years, has included working with entrepreneurs and business owners… I can say unequivocally that there is a big difference between the two.

  • Entrepreneurs operate in a fail forward environment while business owners are afraid to take risks.
  • Entrepreneurs create market space, business owners choose to operate in current market spaces.
  • Entrepreneurs choose to innovate to add value, business owners create according to the status quo.
  • Entrepreneurs are driven by the why, business owners are driven by what.
  • Entrepreneurs build what matters most, business owners build taxable entities.

Do entrepreneurs build businesses? Of course, but it’s in what they build and how they build it that makes the business different.

Think about your business and what you’re building, are you an entrepreneur or just another business owner? Are you building a business that matters, or just another taxable entity?

Most important to understand is that whichever side of the fence you’re on: your customers or clients can sense it. It’s a lot easier to believe in someone who’s doing something that matters, then somebody who’s just doing whatever works.

As you journey through this week, while you’re building your empire–before you take action–ask yourself why, before you focus on the how and what.

Until next week, onward and upward!


P.S. I’ve just finished ready Simon Sinek’s “Start With Why” for the fifth time (yep, 5 times).

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