What’s the difference between these three.
1. Owning your own job
2. Owning your own business
3. Being an Entrepreneur
Many people throw around the word Entrepreneur, most of the time using it out of context. I wanted to expand on yesterday and provide some real insight as to what an entrepreneur is and isn’t. These 3 examples above are not the same at all. Each requires a different type of mindset.
The two biggest differences in the above examples are Leverage and Value.
The one who owns a job has only their own man power ( a leverage of one person) and can only provide value to those he or she personally can service.
The one who owns a business has a greater amount of leverage. For instance let’s say a local taxi company employs 20 drivers. This company leverages the man power of 20 people and can service and add value the whole city or as many as the 20 drivers can handle.
Then there’s a guy who creates Uber (Entrepreneur) who leverages technology to provide massive value across the world in every city. His leverage is massive since he is using and employing drivers all over the world to provide value.
Definition of Entrepreneur: A person who disrupts the thinking, processes, and product delivery systems of the status quo, by executing innovative and more efficient ways to add value to the world.
The greater the leverage used, the greater the value provided. The greater the value added the greater the financial compensation. These 3 levels are all using different mindsets.
Entrepreneurs build with the end in mind. They lay the foundation that will support servicing the masses from the beginning.
Understanding the difference in these 3 examples can dramatically change your life. If you want to become a millionaire or achieve massive success, think in terms of value and leverage. The more you can tap into these two elements the greater potential you have to climb the ladder of success.