The business owner tends to focus on the business rather than his or her own ambitions. They are usually more traditionally minded and they are less likely to take risks. The financial benefits of business ownership tend to be most important, and their aim is to make and increase profits.

An entrepreneur looks at their business differently. Although they also own a business and have many of the same concerns as a business owner, entrepreneurs tend to be ambitious, if not a little egotistical. They want to be successful and respected without compromising on their lifestyle. Rather than spending all their time at work, they want to be able to enjoy themselves and be with their families. They are likely to have more creative input into their business, and to make bigger, bolder plans.

Entrepreneurs are usually more flexible than business owners. They may have interests in many different businesses at the same time, and they are likely to be more open to change. They will evolve in order to increase their chances of success, while the business owner may remain set into his or her ways, unable to imagine making their business into anything other than what it is.

Situations can change. Businesses, people and their priorities change, and as they do, entrepreneurs can become business owners and business owners can become entrepreneurs. A steady, stable business can be the best goal at one point in your life, while taking risks can become more attractive at another. Whether it is better to be an entrepreneur or a business owner depends on what you want from your career at a particular time of your life, and on whether your skills are more suited to taking smart risks or sticking to what you know well.