Owning a business may be suitable for everyone, but did you know before starting that there is a difference between an entrepreneur and the founders of startups?
And with the prosperity of emerging technology companies during the past three decades, which led to more people heading to the field of entrepreneurship, after this field became interesting, and after the founders of successful startups enjoyed great prestige, and some of them became among the most powerful people in the world.
Although anyone can establish a startup, establishing a scalable company and an influential project is extremely difficult, so many startups fail soon after their founding. Anyone can become an entrepreneur without setting up a startup.
While both the founders of companies and entrepreneurs start a new business, there are differences between them, and the main difference between them lies in the business itself.
The startup is an innovative and scalable project, which means that innovation, making an impact and changing is essential for it, but this is a difficult goal to achieve, which means that startups are high risk, and therefore startup owners can work hard for long hours, and yet they fail, according to Forbes.
While entrepreneurs face risks in any new venture, there are differences between the risks that startup owners and entrepreneurs face; An entrepreneur in any traditional project may become out of competition if his market is not thriving, or because competitors are doing better than him, or because they have more resources than him, and although the owners of startups can fail for the same reasons, but in addition to the previous reasons, they can To fail simply because the market does not need what they are creating.
The challenge is that there is no way to discover whether people need what a startup has to offer, if the company does not actually test the market, and thus startup owners can fail even if they do everything right, and they will also have to experience failures and unsuccessful attempts many times. Numerous in order to achieve success.
There are also differences between an entrepreneur and a startup founder in terms of risks and rewards. Regular work is low risk for building a scalable company, but it offers a low return as well.
While traditional entrepreneurship is considered to have medium to high risks and medium to high returns as well, startups are fraught with great risks, but their potential returns are also great.
Making the right decision whether to choose a traditional entrepreneurship or start a startup depends on the interests, values, and priorities of each person. If a person wants to become an influential person in society, and who contribute to changing it, and is possessed by the idea of the project that he wants to launch, and the problems that he wants to solve, then the emerging company becomes the ideal choice for him.
If a person on the other hand wants to become a manager himself, but at the same time he does not want to fail many times before his efforts are fruitful and successful, then traditional entrepreneurship may be a better option for him than innovative startups.