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Rewards of Entrepreneurship
There may be a lot of challenges of being an entrepreneur but the rewards outshine these and motivate people to
follow this path. Some of the rewards are listed below:
• Master of his own time: An entrepreneur decides for himself his hours of work. It is totally his own decision
to give either maximum hours or only a few hours to his business. He is not stuck trying to manage 9 hours of
office. He can work for long hours and then can go on a vacation.
• Lives his passion: An entrepreneur lives his own dreams. He can pursue what he is passionate about in his life.
• His own boss: An entrepreneur creates his own empire, so he is his own boss. He is the leader of his troop and
master of others who work under him.
• Makes profits for himself: An entrepreneur works for himself and his own business, so if he is gaining more
profits, then he is earning for himself. It will be totally his decision where to put the money earned through
profit. He can invest more and expand his business or save it for his rainy days.
Difference between Businessman and Entrepreneur
It is generally assumed that an entrepreneur and a businessman are the same people but both of them have a
different approach for their business. A businessman uses traditional ways of doing business but an entrepreneur
goes for innovative ways of doing a business. Let us see the main differences between the two:
Businessman Entrepreneur
A businessman is a person who starts a An entrepreneur is a person who starts an
business based on an idea already existing enterprise with a new idea or concept. For
Meaning
in a society. For example, opening a grocery example, selling products through online
shop, mobile shop, etc. services.
Market Player who creates his own place in
Market Status Market Leader who creates his own market
the existing market
Risk Factor Risk factor is less. Risk factor is high.
Businessman follows traditional Entrepreneur follows unconventional
Procedures
procedures. procedures.
Competition High. Low.
Focus Profits. Customers, employees, profits and society.
Entrepreneurial Skills-I 111

