Every Business Owner cannot be referred as an Entrepreneur. The difference between just another business owner & an Entrepreneur is in the basic thought process. A business owner runs the daily chores associated with his/her business with same zeal & enthusiasm or sometimes mechanically. But a true entrepreneur plays different set of roles for their business at different timelines based on what the circumstances demand.
In the Hindu religion, Trinity or Tridev Brahma, Vishnu and Mahesh have different roles in running this universe.
Brahma is the creator who creates the world. In your business, you create !
Vishnu – the preserver, responsible for maintaining the world (like the CEO/MD) – likewise you require to execute whatever it takes to setup & grow your business.
Mahesh( Shiva) – Referred as God of Destruction takes care of Terminating the world if certain laws of life are not followed. Mahesh enables TRANSFORMATION.
Do not underestimate the power of the word “destruction” or interpret it as “Negative” statement. This destruction or termination is required at times in order to enable creation/construction of new world.
Similarly, you need to create business models like Brahma, set processes, own every aspect of what you created and then hire someone like Vishnu to keep it running/growing. But if business is not doing well due to what so ever reasons or if the business environment & market demands so you may need to step out and destroy it like Mahesh. This simply implies transformation is required, so take some action for Merger & Acquisitions, Shutdown, Sell, Revamp, Change business model or strategy etc.
This is exactly what we did in our ventures, we had to hard shut our hobby studio in 2009 and apparel outlet in 2015. We decided to sell our F&B venture in 2013. Though we were not running losses, the call was is it worth our time, skills & effort now when we have better business ideas post learning from the existing businesses! We decided to consolidate our successfully running business so that we can focus on our software products in this era of digital disruption.
As an entrepreneur you create a business model which runs on an auto pilot mode with little monitoring from your end & move on to create new sources of wealth generation
In the current timeline, a great entrepreneur requires thinking like Brahma, Vishnu & Mahesh.
Learnings & insights from our diverse business ventures in last 10 years have been captured in our book on Entrepreneurship – You can do it ! http://www.amazon.in/dp/1946048259