What is an entrepreneur?
An entrepreneur is a person who establishes and run a new business venture and absorbs much of the financial risk that comes from doing that, rather than having an outside investor fund the project. Entrepreneurs beat out on their own or with a partner, taking a business idea and turning it into a reality, usually by investing their own money into the venture and sometimes getting loans or seed money from family and friends.
Traits of an Entrepreneur
Successful entrepreneurs are known as a person who have an ability for seeing the opportunities and developing them into money-making businesses, and they are able to calculate approximately the risk of doing so. Entrepreneurs also are connected with being creative thinker, which means their vision is big and have big ideas.
However, the core quality you need to be a successful entrepreneur is a resolve to make your business enterprise succeed. You will require this mindset to switch the huge obstructions facing every entrepreneur: A staggering nine out of ten startups fail.
What is Manager?
In order to become a good manager, it is important to study management techniques that will make you successful in the workplace. A manager is a specialist in his or her field and is a sustain system for employees. Managers work within a company and work jointly as a team to accomplish company goals.
A manager is not a person who does every thing at once even as employees take a back seat. It is vital for managers to delegate responsibilities to employees and assist them if they need help.
As a manager you have to put on many hats and be flexible. Imagine you are blindfolded and walking through a forest. Could you imagine how many times you would hit a tree or trip because you have no direction? It is your job to help employees navigate.
If they trip, it is the manager’s responsibility to help them stand up and encourage them to achieve their goals. Manager who watches his or her employee journey and be unsuccessful without helping them is not the kind of manager you desire to be. Employees will feed off their manager’s energy, and that positive energy will help create a successful work environment.
Entrepreneur VS Manager
Entrepreneur
• This is visionary and bears all financial risks
• Focuses on starting and expanding the business ideas
• Key motivation for entrepreneur is achievements
• Reward for all the efforts is profit he earns from the enterprise
• Entrepreneur can be informal and casual
Manager
- Manager works for salary and does not have to bear any risk
- Focus on daily smooth functioning of business
- Managers motivation comes from the power that comes with their position
- Remuneration is the salary he draws from the company
- Managers approach to every problem is very formal
Entrepreneur vs. Manager: A Comparison Table
| Criteria | Entrepreneur | Manager |
|---|---|---|
| Focus | Future-oriented, visionary | Present-oriented, operational |
| Risk Attitude | Comfortable with calculated risks | Prefers risk mitigation |
| Responsibility | Creates and builds businesses | Manages and optimizes existing systems |
| Innovation | Thrives on innovation and disruption | Implements and refines existing ideas |
| Decision-Making | Decisive, often based on intuition | Analytical, data-driven decisions |
| Leadership Style | Inspirational and visionary leadership | Team-oriented, process-driven |
| Adaptability | Highly adaptable to change and uncertainty | Adapts to changes within established frameworks |
Entrepreneur vs. Manager: Striking a Balance
While entrepreneurs and managers serve different functions within an organization, a successful business often requires a harmonious blend of both skill sets. Entrepreneurs bring creativity, vision, and a willingness to take risks, while managers contribute stability, structure, and the ability to execute plans systematically.