Are you a business owner or an entrepreneur? While these terms are often used interchangeably, I’m hearing an increasing number of people who are making a clear distinction between the two. This is particularly relevant at the moment – when there is talk of a challenging economy – because the business owners will react very differently to entrepreneurs in such an environment. So what’s the difference?

The distinction … is that an entrepreneur is trying to make money while s/he sleeps, and does it with someone else’s money that scales for a long time, that is about processes and markets.

A small businessperson, on the other hand, is largely a freelancer with support, someone who understands the natural size of their business and wants to enjoy the craft of doing it every day.

Keys:-

Leverage your time – Find a way to go from “hours for dollars” to “hours for heaps of dollars” and finally to “hardly any hours for heaps of dollars”. Of course, I’m being slightly facetious but my sentiment is serious.

Expand your thinking by hanging out with like-minded entrepreneurs – Make a point to be around people who think bigger than you usually do, who can challenge you and support your wacky ideas.

Feed your entrepreneurial soul – Try this for a while. When the stock prices come on TV, tune out. When you hear your friends do the “gloom and doom” talk around the barbecue, walk away. Actively disengage from these conversations and fill your mind with books, audio programs or seminars that will feed you. This will also help you expand your thinking.

Ultimately, it’s not really a series of systems or staff numbers that will transform you from a business owner to an entrepreneur. It’s your mindset. Feeding your business brain and expanding your mind to what’s possible in your business is vital in order to get it to next level.

Comment below and let me know what things are you doing to expand your brain?

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