Entrepreneurs & CEOs.... Which one are you??

In the business world, there are two main titles that many people use interchangeably and which are not supposed to be so.

Who Is An Entrepreneur?

Simply put, an Entrepreneur is a risk-taker, one who gives it all to make sure his business idea doesn't vanish into thin air.

An Entrepreneur births the idea of a business and is responsible for selecting the marketplace to ensure the success of his business amidst competitors.

An entrepreneur is also responsible for identifying the ideal potential customers to keep the business booming.

Entrepreneurs set goals and make sure each target is reached by themselves or the employee they hire after proper screening.

An entrepreneur is also responsible for raising funds by searching for investors and recruiting teams to help sail the ship of the business — An entrepreneur only recruits capable hands to join the force and achieve the goals set.

If you have all these qualities or know someone who has them, you know for sure that such a person is an Entrepreneur.

Who Is A CEO?

CEO, Chief Executive Officer is someone who overlooks the course of an organization and has the power to make the final decision.

The CEO is responsible for executing all business plans according to the organization’s rules and regulations.

He also makes all the strategic moves to ensure the organization’s goals are met within a reasonable time frame.

Basically, an Entrepreneur can employ a CEO to help manage his business after the business has been successful; the CEO will need to have a lot of experience in leadership and management, and most also attend business schools.

Entrepreneurs do not really need to attend a business school as their business becomes a success; they can hire a CEO to spearhead it.

However, one person can attain both titles by starting a business off from scratch as an entrepreneur, and after hitting the targets and the business thrives, then you can spearhead it just as well as the CEO instead of hiring one.

An example is Elon Musk, who has over six businesses and was appointed the CEO of Tesla — many people think he owns the company, but no! He is the CEO and not the founder.

He was appointed the CEO because he has proven himself with PayPal and other companies that he founded and attained success with.

Differences Between An Entrepreneur And A CEO

One of the significant differences is that an entrepreneur will always keep thinking of how to penetrate each marketplace to reach more customers and boost their profit, while a CEO will be more focused on improving strategies that were used to penetrate the market by offering discounts to bring back old customers or get referrals from them.

An Entrepreneur is more focused on the future of the business, and all his ideas will be on how to keep innovating, not to get kicked out of the market, while a CEO will be focused on the present.

Entrepreneur reports to no one as he is the owner of the business while the CEO in most cases reports to the board of directors — if the CEO is the founder, then the board of directors will be more of a board of advisors.

Conclusion

An entrepreneur, even with the right skills and innovative mindsets, doesn’t necessarily make a CEO.

So, try not to risk the future of your business by playing both roles if you are not capable — hire an expert to spearhead your business if you have the means to do so!