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Do you ever ask: what is the difference between entrepreneur and businessman? Both start businesses. But they are different in how they think, act, and grow. This article helps you understand clearly—especially if you’re a Nigerian student or working-class person—by using easy English, real examples, advice, and clear steps.

What Is a Businessman?

A businessman is someone who runs a business to make money. He or she may buy and sell goods or services that people already want. A businessman often follows a known path. They focus on steady profit, growing the business slowly, and keeping it stable.

Example: If you open a small local grocery store selling known products, you are a businessman.

What Is an Entrepreneur?

An entrepreneur is someone who creates new ideas, solves problems, and starts something original. Entrepreneurs take more risk—because they are trying new things that may or may not work. They look to change how people live, shop, or work.

Example: If you invent a mobile app to help students share notes more easily—something new—you are an entrepreneur.

How Businessman and Entrepreneur Are Alike

Despite differences, both share some qualities:

• They both build and run businesses.

• Both need to understand customers and money.

• Both make decisions, hire people, and manage operations.

• Both face challenges like competition, supply, and costs.

They aim to earn profit. They serve customers. They operate in the marketplace. That’s what makes them similar.

Key Differences Between Businessman and Entrepreneur

.1 Mindset & Goals

• Businessman: Seeks consistent profit. Wants to keep business steady and reliable.

• Entrepreneur: Seeks innovation. Wants to solve a problem or create something new. Profit is important, but change and impact come first.

.2 Risk & Innovation

• Businessman: Prefers known products and proven methods. Less risk.

• Entrepreneur: Tries new ideas, accepts failure as part of learning. High risk for high reward.

.3 Business Model & Growth

• Businessman: Grows slowly, maybe by opening more shops of the same kind.

• Entrepreneur: Grows rapidly or changes model—for instance, moves from local food delivery to nationwide platform.

.4 Capital Use & Investment

• Businessman: May use savings or loans to invest in stock and operations. Investment stays local.

• Entrepreneur: May raise external funds—investors, grants, crowdfunding—to scale fast and experiment.

.5 Approach to Change

• Businessman: Responds to market slowly. Prefers stability.

• Entrepreneur: Adapts quickly. Seeks new trends and acts fast.

.6 Example in Nigerian Context

• Businessman Example: Nkechi opens a tailoring shop sewing clothes that people know. She runs it steadily and makes a living.

• Entrepreneur Example: Uche creates a machine that slices and peels yams, sells it to markets. He brings innovation to a traditional activity.

How to Decide: Are You More Entrepreneur or Businessman?

Ask yourself:

• Do I want to create something new or provide something people already want?

• Am I okay taking big risks, or do I prefer safer steps?

• Do I want fast growth and change, or more steady pace?

• Do I like solving new problems or following proven paths?

Write down your answers. Think about your personality, goals, and the kind of business you want. This helps you choose your path—or mix both styles.

Pros and Cons: Entrepreneur vs Businessman

Pros of Being a Businessman

• Lower risk

• Steady income

• Easier to manage

• Good for local or small-scale markets

Cons of Being a Businessman

• May face tough competition

• Hard to expand fast

• Less creative or innovative

Pros of Being an Entrepreneur

• High growth potential

• Solves real problems

• Can attract investors

• Makes a bigger social or economic impact

Cons of Being an Entrepreneur

• High risk of failure

• Needs strong planning and vision

• Requires more skills and energy

• Stressful early stages

Comparison Table: Quick Visual Guide

Real-Life Nigerian Examples

Example 1: Traditional Retail vs Innovation

• Businessman: Aisha runs a provision store in her neighborhood, selling rice and beans. She orders stock from known suppliers and sells at a steady rate.

• Entrepreneur: Idowu starts an online marketplace for rural farmers to sell produce directly to city buyers using a mobile app—this is new and changes the supply chain.

Example 2: Service Industry

• Businessman: Tunde offers computer typing services—he has a shop, and people bring documents to type.

• Entrepreneur: Ola creates an SMS-based assignment service for students, where they text homework and get answers. That’s a creative new service using tech.

Practical Steps: From Businessman to Entrepreneur (or Vice Versa)

If You’re a Businessman Who Wants to Innovate

1. Ask: what other problems do my customers face?

2. Start with small experiments—e.g., add home delivery to your grocery store.

3. Learn basic innovation or design thinking—read, watch videos, attend workshops.

4. Talk to young people or students who have fresh ideas.

5. Test your new idea before investing too much.

If You’re an Entrepreneur Who Wants Stability

1. Identify proven revenue streams you can count on.

2. Build systems: record keeping, supplier ties, consistent quality.

3. Balance innovation with basic cash flow needs.

4. Seek smart help: accountants, simple managers, schedules.

5. Merge creative experiments with steady product/service lines.

Frequently Asked Questions (FAQs)

1. Can someone be both an entrepreneur and a businessman?
   Yes. You can run a traditional business while also trying new ideas on the side.

2. Is a businessman less valuable than an entrepreneur?
   Not at all. Both create jobs and provide services. They just have different approaches.

3. Do entrepreneurs always need big money to start?
   No. Some begin small with just an idea. But to scale fast, they may seek investors.

4. Which path is better for students?
   Students can begin as entrepreneurs—testing ideas online with low cost—or pursue business paths they can manage part-time.

5. Is it risky to be an entrepreneur in Nigeria?
   It can be. But many resources—incubators, grants, online tools—are increasingly supporting young innovators.

6. Can a businessman benefit from entrepreneurship skills?
   Absolutely. Learning innovation, adaptability, and customer focus can improve any business.

7. Can entrepreneurship fail more than traditional business start-ups?
   Yes, because it’s new. But failure teaches lessons and can lead to better ideas.

8. What mindset does a businessman need?
   Stability, reliability, strong customer care, and operational efficiency.

9. What mindset does an entrepreneur need?
   Creativity, risk tolerance, problem-solving, and bold vision.

10. How do I fund an entrepreneurial idea?
    You can start small, crowdfund, apply for grants, pitch to investors, or join entrepreneurship programs.

11. How do I protect my innovative business idea?
    Use simple branding, trademarks, and do not share your full plan until trusted or officially registered.

Summary Table

Conclusion

Understanding the difference between entrepreneur and businessman matters—especially for Nigerian students and working-class citizens. A businessman builds and runs a steady business. An entrepreneur creates new solutions and takes high risks to bring change. Both paths are valuable, and one can evolve into the other.

The key is to know who you are—or who you want to be—and make choices that fit your goals, skills, and situation. Balance innovation with stability if needed. Start small. Learn fast. And most importantly, take action.