Why Been Self Employed Does not make you an Entrepreneur.

picture credit:twenty20.com

It is believed that Entrepreneur is someone who is willing to risk loss in order to make money from the business venture he or she has started. Over the years, entrepreneurship has been on the rise, with everyone who has started business claiming to be an 'ENTREPRENEUR'.
What few is yet to understand is that 'not every business owner is an entrepreneur'. This might sound shocking but funny enough its true. In order to draw a distinct line between been just Self Employed and been an entrepreneur, we will be going through some of their counteracting features.

Business Running Model:
An Entrepreneur's model of running business is totally dependent on delegation, they prefer to delegate because it's saves them more time and even doubles their income. On the other hand, he who is SELF EMPLOYED, prefers not to delegate, they totally believe in taking the bull by its horn themselves, forgetting that the more you get 'many things' done right on time, the more you are likely to make more money and save time too.

STABILITY OF THE COMPANY :
While a company is solely ran by someone that is self employed, his absence could lead to distortion of his company's stability. When he or she is sick or takes some vacation, the business seems to be brought to a halt.
Meanwhile in the case of an entrepreneur, his absence has little effect on his company as there are leaders amongst his team who are willing to take the company to the next level. The Business runs with or without him.

COMPANY REGISTRATION
Most Entrepreneurs starts out by Registering their companies as a Sole Proprietorship, while as the move on to the next level, they switch to Corporation which is more favorable to them.
Self Employed individuals chooses to stick to the Sole Proprietorship Form of Company registration. This is because it's incures less risk(their personal view not mine) and it's paper work is less demanding. It's worthy to note that a company registered as a Corporation is a legal entity of its own,this is not applicable to sole proprietorship.

RISK TAKING:
Entrepreneurs take groundbreaking risk, though a calculated one. The Self employed, takes risk too, but at some point chooses to play it safe.

QUALITIES:
While they may share the same quality of having a business, they are still other qualities that defines them. Self employed individuals are very very hardworking and are highly goal oriented. They are also quality conscious.
Entrepreneur are creative, they are also flexible. They always looking out for new opportunities that they can Invest in. That's why you see entrepreneurs who run more than 2 companies.

MAKES MONEY WORK FOR HIM RATHER THAN WORKING FOR MONEY.

According to Robert Kiyosaki, the rich are rich because they know how to make their money to work for them. This cannot be said of a self employed individual.

TEAMWORK.
A SELF EMPLOYED individual prefers to work alone, keep all the profit alone and still takes the loses if incured.However entrepreneurs are smart enough to know that if you are going to go far and fast, you need a formidable team.
In conclusion, Been Self employed is an opportunity to transit into becoming an entrepreneur.
The only thing that can trigger such Transition is MINDSET.