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15 Differences Between Employees and Entrepreneurs

15 Differences Between Employees and Entrepreneurs

Ever wondered what it takes to make the leap from employee to entrepreneur? It takes some key shifts in mindset, habits, and comfort levels–resulting in some key differences between the types of people who thrive as employees and succeed as entrepreneurs. Some people generalize employees as followers, and entrepreneurs as leaders. Yet there are entrepreneurial employees, and there are entrepreneurs who know when it’s time to follow someone else’s lead. The difference between these two types of people isn’t always clearly defined.

So, what are some key differences between employees and entrepreneurs?

1. Employees seek direction while entrepreneurs create a path.

Employees tend to seek help when a problem arises at work. Entrepreneurs create the solutions that keep the organization moving forward.

2. Employees do while entrepreneurs listen.

It’s the employees who get most of the work done in any organization. But in order for them to do it well, the entrepreneur at the helm has to listen to their needs and ensure they maintain a productive and positive work environment for staff.

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3. Employees take fewer risks while entrepreneurs live for them.

While doing things the safest way can actually be good for an organization, it takes a risk-tolerant entrepreneur to believe in and build the organization in the first place.

4. Employees are often specialists while entrepreneurs are generalists.

Entrepreneurs need to know a little bit about a lot of things, in part so they can empower the specialist employees who work for them. In fact, a Swiss-German study found that specialists tend to be employees for life, and in fact prefer that role.

5. Employees get paid for their role while entrepreneurs get paid for results.

Entrepreneurs are sometimes the last to get paid in a company, because their compensation is tied directly to performance and profit.

6. Employees love holidays because they get the day off while entrepreneurs do because they can work all day with few interruptions.

A lot of entrepreneurs rejoice when holidays come along, not because they’re taking well-deserve time off, but because they can be productive all day without being disrupted or distracted.

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7. Employees appreciate steady employment while entrepreneurs are comfortable without job security.

Entrepreneurs know that it’s risky to build a business and that they must sacrifice steady employment in order to build the company.

8. Employees follow rules while entrepreneurs break them.

It’s a strange paradox, but to create a successful business an entrepreneur has to disrupt something, break a rule, or change the game. But in order to keep the entrepreneur’s company going, the employees need to be there to uphold the new status quo.

9. Employees are responsible for some decisions while entrepreneurs are responsible for them all.

Whether positive or negative, the entrepreneur is ultimately burdened with the impact of decision-making at all levels of the organization.

10. Employees execute tasks while entrepreneurs plan.

An employee can take work day by day, whereas an entrepreneur has to consider how well the tasks are being performed relative to the long-term plan for the business.

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11. Employees like structure while entrepreneurs like infrastructure.

While employees generally prefer to have a defined range of responsibility, entrepreneurs consider how each person’s role contributes to the business–and its growth–as a whole.

12. Employees work to a schedule while entrepreneurs create their own.

If they don’t develop strong time management skills, entrepreneurs can burn themselves out working too many hours each week.

13. Employees are always working while entrepreneurs are always selling.

And it can be exhausting. Entrepreneurs have to sell investors on their ideas, clients on the value of their products, staff on the benefits of working there, and even their families on why they’re running a business.

14. Employees can enjoy more social interaction while entrepreneurs often work in a silo.

Entrepreneurship can get lonely, especially at the beginning. It helps to have a mentor or other group to bounce ideas off at the early stages of starting a business.

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15. Employees dislike failure while entrepreneurs embrace it.

Failure means learning, and entrepreneurs know that failure is more likely than success–and failure can lead to success. Employees would rather not fail at their jobs as it can lead to fear of losing the steady employment they value.

Featured photo credit: LV woman/MariusBoatca via imcreator.com

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Last Updated on May 16, 2019

The Daily Rituals of 7 Successful CEOs

The Daily Rituals of 7 Successful CEOs

One of my favorite success quotes ever comes from one of the original and most successful ‘CEOs’ of his era: Aristotle. Here’s what he said:

“We are what we repeatedly do. Excellence, then, is not an act, but a habit.”

This advice is just as sound today as it was when Aristotle first expressed it, way back when. I’m reminded of this at least once a week, when I interview an inspiring author, leader, or successful CEO on my show. I ask my guests a series of questions about what has contributed to their success and their ability to build something meaningful.

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You want to know what nearly all of them say? Almost every time, they respond by telling me that their success is the result of simple habits  enacted day after day.

These quotes from seven successful CEOs demonstrate the daily rituals that have contributed to their success:

1. Promote what you love.

“It’s so much better to promote what you love than to bash what you hate.” – Jessica Alba, CEO of The Honest Company

2. Develop a feedback loop.

“I think it’s very important to have a feedback loop, where you’re constantly thinking about what you’ve done and how you could be doing it better. I think that’s the single best piece of advice: constantly think about how you could be doing things better and questioning yourself.” – Elon Musk, CEO of TESLA Motors

3. Create things that are better, not just “different.”

“Our task today is to find singular ways to create the new things that will make the future not just different, but better—to go from 0 to 1. The essential first step is to think for yourself. Only by seeing our world anew, as fresh and strange as it was to the ancients who saw it first, can we both re-create it and preserve it for the future.” – Peter Thiel, CEO of Palantir and best-selling author of Zero To One.

4. Meditate.

“Meditate. Breathe consciously. Listen. Pay attention. Treasure every moment. Make the connection.” – Oprah Winfrey, CEO of OWN Network

5. Read every day.

“Read 500 pages every day. That’s how knowledge works. It builds up like compound interest.”-Warren Buffet, CEO of investment firm Berkshire-Hathaway

6. Block time for email.

“Set aside a 20- to 30-minute chunk of time two or three times a day for email. Do not check continually through the day.” – Doug Camplejohn, CEO of predictive lead marketing company FlipTop.

7. Make your customers happy.

“We see our customers as invited guests to a party, and we are the hosts. It’s our job every day to make every important aspect of the customer experience a little bit better.” – Jeff Bezos, CEO of Amazon.com

Develop the right rituals. Become a successful CEO.

If the majority of these daily habits are new to you, avoid making the crucial mistake of adopting all of these habits at once. Research on habit-formation indicates that lasting habits are formed one at a time.

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For example, let’s say you’re excited about developing the following daily habits:

  • daily reading,
  • daily meditation, and
  • updating your to-do list every night

Let’s say that daily reading is the one that excites you the most out of the three habits noted above. It would be wise of you to begin by choosing and scheduling time to read every day, and then sticking to that time until it becomes a habit. Once it feels effortless and automatic, you’ll know that you’ve turned it into a daily habit. Now you’re ready to install the next habit… and the next… Until before you know it, you’ll start looking in the mirror and seeing the reflection of a successful CEO.

Featured photo credit: Amy Hirschi via unsplash.com

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