Five Modern Entrepreneurs Difference With Traditional Entrepreneurs

Business growing from time to time, and each time gave birth to new ways of doing business. This is precisely what then creates the difference between the traditional and the modern entrepreneur. Here are the different:

Opportunity vs Problem

Traditional Entrepreneurs usually start a business because it sees opportunities. Opportunities for instance derived from bids, other businesses successful, trend, assets, or also of skills to master. While the start of the modern entrepreneur's problems, found, or seen. From there he managed to find a solution to solve the problem, then know that the problems and solutions that have a considerable market.

Simple vs. Complex

Traditional entrepreneurs will try to fulfill the various needs of diverse people, it also carried a variety of trend or feedback given to him. So that the product or service provided will be increasingly complex, many and varied features. While the modern entrepreneur is constantly focused on the solution of the main problems of consumers, then tried to simplify the solution, making it more convenient for consumers. Modern entrepreneurs often occurs even cut the products, services, or features in order to make consumers increasingly enjoying the best solution for the problem.

Availability vs. Best

Traditional entrepreneurs usually tend to save on employee pay, even for employees in the management team or the position directly below it. They argue that it is better done alone than to pay people who are relatively more expensive. While the modern entrepreneur will usually try to recruit the best people, because he knows that the best professionals can be a sparring partner for him at a time of internal growth catalyst. In addition, by having the best people, make the entrepreneurs can delegate work and more focused on the things that are more strategic. They also did not hesitate to give higher salaries, even bigger than his own salary. Modern entrepreneur is also used to recruit new partners for his business to complementary strengths.

Repetition vs Up Class

Traditional entrepreneurs will tend to try to repeat the success of his business in a certain scale to make a similar business just different products. For example when he managed to make soup business have a turnover USD 1 M, then he will try to make a business sea food restaurant have a turnover USD 1 M, and so on. While the modern entrepreneur will attempt the next grade. If successful making business bakery have a turnover USD 1 M, so he tried to make a business him bakery have a turnover Rp 10 billion, Rp 100 M, and so on. For that he did not hesitate to continue to learn and develop their management, because there is a lot of difference to be able to realize and manage a business that is 10 times larger.

Stagnant vs. Moving Target

Traditional entrepreneurs will quickly feel satisfied and successful, then more inclined to say "During this road anyway". While the modern entrepreneur will always assume that "Life is a moving target", so it tends to never be satisfied and always "hungry". So they will always be open to innovation, even drastic changes, so that the relevant business and more flying.

So, whether you belong to the traditional or modern entrepreneur?

Refference: https://startupbisnis.com/5-perbedaan-wirausahawan-tradisional-dengan-modern/