Employee and an Entrepreneur

What Is the Difference Between an Employee and an Entrepreneur?

Starting with the Right Mind-set When I was growing up, my poor dad often said, “Go to school, get good grades, so you can find a good job with good benefits.” He was encouraging me to become an employee. My rich dad often said, “Learn to build your own business and hire good people.” He was encouraging me to become an entrepreneur. One day I asked my rich dad what the difference was between an employee and an entrepreneur. His reply was, “Employees look for a job after the business is built. An entrepreneur’s work begins before there is a business.”

Approximately 99% of all startup businesses fail within ten years. Why? While the reasons are many, the following are some of the more critical ones.

1.       Our schools train students to be employees who look for jobs rather than train entrepreneurs who create jobs and businesses.

2.       The skills to be a good employee are not the same skills required to be a good entrepreneur.

3.       Many entrepreneurs fail to build a business. Instead they work hard building a job that they own. They become self-employed rather than business owners.

4.       Many entrepreneurs work longer hours and are paid less per hour than their employees. Hence, many quit out of exhaustion.

5.       Many new entrepreneurs start without enough real life experience and without enough capital.

6.       Many entrepreneurs have a great product or service but don’t have the business skills to build a successful business around that product or service.

Source [Robert_T._Kiyosaki,_Sharon_Before you quit your job}