Managers and Entrepreneurs Are Not The Same

Starting a business is not an ordered process and there are hardly any rules and regulations as to how you can manage a business. But it is a combination of tasks jumbled upon each other. There are no separate divisions of the tasks. The business owners have to constantly try to stay afloat in the market. They have constantly put efforts to showcase their company wherever they go. So, we can say that an entrepreneur has to do pretty much everything for their business and they have to be prepared to handle everything that may come in their way. The entrepreneur has to be a generalist rather than a specialist.

But among all the skills an entrepreneur has to manage production, internal processes and customer relations. This is why experts have suggested that entrepreneurs and managers are not the same. A famous economist Ludwig von Mises has said that a manager is a junior partner of the entrepreneur. Other experts have also said that it is necessary to divide managers and entrepreneurs. In start-ups, the entrepreneur and the manager don’t necessarily have to be two different persons, but even if it is the same person, their roles and their works are different from each other. This division will help in the process of managing the small business well.

The work of the entrepreneur is to create brand value for the customers. The fundamentally important thing to create a brand value is to place its value over its cost. If the value of the product doesn’t match with the price of the product, then that will lead the company to failure. The only mantra of an entrepreneur should only be what will be beneficial for the customers.

An entrepreneur is a value creator. The job of an entrepreneur is not to lower the cost but it should be like the value justifies the cost