Reflection: People sometimes think “business” and “entrepreneurship” are the same. They are distinct.

Enterpreneurship is closer to “self-actualization” as Maslow defined it (creativity, spontaneity, acceptance of facts). Business is closer to “physiological” (breathing, food, water). A business is purposeful activity; it is created. Entrepreneurs organize, own, manage, and assume the risks of businesses; they are creators.

Entrepreneurship and business overlap each other “in the middle” at the levels of “esteem” and “belonging”. And of course, mastering business is a prerequisite to mastering enterpreneurship.


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