Sometimes people ask about the difference between a small business owner and an entrepreneur. The truth is that there may be no difference at all. On the other hand there may be a big difference between a lifestyle business, sometimes called a "Mom and Pop" business, from an entrepreneurial start-up. In a lifestyle business, a person decides to go out on her own to earn a living but really isn't interested in hiring more than a few employees, if any, to expand the business. She just wants to earn enough money to make her life comfortable, generally serve the local market, and may provide her with some flexibility. Painters, roofers, hair stylists,and consultants often fall into this category.
The entrepreneur starts small too but is innovative and has a vision for expanding the business, finding financing, and hiring as many employees as needed to provide goods or services to her market. The market may be regional, national, or global. Therefore, the chief distinguishing characteristic is one of scale. An entrepreneur tends to be a visionary risk taker. If the business fails, she will often regroup and try again. A person who starts more than one business in her lifetime may be called a serial entrepreneur.
Either way, we need both types of business to grow our communities.
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