What is the difference between an entrepreneur and an employee? State whether the person engaged in the activity mentioned below is an entrepreneur or an employee:
(a) Rahul starts a shop to sell chaat and special Paani Puri. He is an ________
(b) Ram becomes the manager of a dealership selling food products. He is an ________
Answers
Explanation:
There are two types of workers in any organization:
Workers with an Employee Mindset
Workers with an Entrepreneurial Mindset
Some people surround themselves with the pre-planned deadlines. Some people prefer to work on their pre-planned future goals. It does not matter whether you are working for a company or not. What matters most is your mindset.
On the basis of these two categories, let us look at 12 major differences between an Employee and an Entrepreneur.
1. Employees think without starting. Entrepreneurs start without thinking.
Employees restrict their future growth by thinking about perfecting different skills. Instead of starting things on a positive note, they start doubting their capabilities and strengths. Entrepreneurs know little about everything. So, they start their work with a little input. They don’t waste their time by falling in the perfection trap. They believe in learning new things along their entrepreneurial journey.
2. Employees wait for the right time. Entrepreneurs mate without thinking about the right time.
Employees find different excuses to complete their tasks. They keep postponing their targets. Entrepreneurs have three main boosters to start their work at any time: Love, Patience, and Dedication. Understanding the short-lived nature of the opportunities, they grab the opportunity and come up with different plans.
3. Employees aim for the promotion in their company. Entrepreneurs aim for the promotion in their business.
Workers with an ‘Employee mindset’ are concerned about the increment of the colleagues. They work hard with the intention of getting a better position and a high salary. Entrepreneurs work hard with the intention of learning new ideas. They are busy in finding various ways to uplift their business dreams.
4. Employees dream their plans. Entrepreneur plan their dreams.
No matter how big your dreams are, dreams without plans have no significance. Employees build castles in the air. They dream of breaking the 9-5 routine. They dream of having a lavish lifestyle. On the other hand, entrepreneurs have a solid plan for shaping their dreams. They move ahead with a proper strategy.
5. Employees think ‘Money is everything’. Entrepreneurs know ‘Time is everything’.
Employees invest in their future growth by focusing on money. They look for the safe returns only. Entrepreneurs know ‘Time is Money’. They shift their focus from money to time by giving ample time for the growth of the company. They are ready to work months after months with no profits. As they believe in generating wealth, they don’t pay attention on initial months with unattractive results.
6. With Employees, frustration is permanent. With Entrepreneurs, frustration is temporary.
The freedom from frustration depends on the way the person tackles it. Employees know they have to go through the same boring routine again and again. As a result, they lose their interest and become arrogant with their co-workers and family members. While managing various roles, entrepreneurs also face frustrating moments. Their problems are temporary because they want to make a living by doing what they love to do.
7. Employees are insecure about their freedom. Entrepreneurs free themselves from all their insecurities.
Who doesn’t want to live life on their own terms, isn’t? On one side, employees want to spread their arms and live life without any boundries. On the other side, they contract themselves due to future insecurities. Entrepreneurs live life on the edge. It doesn’t mean they don’t focus on other commitments. They are good in calculating the right amount of risk for every strategy.
so, are you an Employee or an Entrepreneur?