Signing on the dotted line of a business for sale is an exciting process. Finding the right opportunity and making it unique is something the vast majority of small business owners pride themselves on.
While keeping an enterprise up and running is by no means an easy feat, why are so many small business owners not considered to be entrepreneurs?
Risk versus stability?
Melanie Spring, contributor for the aptly named Entrepreneur, explained that small business owners are not always considered to be particularly progressive, as they can quickly become set in their ways.
To counter this, it's important to pursue innovation and consistently move forward. Entrepreneurs are never satisfied with just ticking along, according to Forbes contributor Gene Marks. Consequently, if you're a small business owners looking to broaden your horizons, it's important to consistently challenge yourself and your enterprise.
Of course, there's a balance to be struck here, as not every small business owner will have the freedom to make split-second decisions. Ultimately, finding the common ground between the general perception of 'business owner' and 'entrepreneur' is where the real value lies.
Room to grow
All business owners can essentially become entrepreneurs if they give themselves room to grow. This can actually be as simple as expanding the enterprise by opening up a new location, or even looking into acquiring more businesses for sale.
"The biggest difference between a business owner and an entrepreneur is the vision to know that owning a business is not an end in itself," Bo Fishback, vice president of entrepreneurship at the Kauffman Foundation, as quoted by The Wall Street Journal.
There's no precise distinction between business owner and entrepreneur, with the whole endeavour proving relatively subjective. In fact, it's best to carve your own path as the head of a small business, make it a success, and then worry about the trappings of becoming an 'entrepreneur' at a later date.