The freelancer sells their time (and ideally their expertise) for money, and so you bill out by the hour, you get paid for the hours that you work, and you earn a living.
Generally speaking, your costs are relatively low, and therefore your profit is high. It's not unusual for a solo freelancer to earn 60, 70, or 80% profit, with only 20% of costs.
The entrepreneur doesn't do this; the entrepreneur scales and leverages other people's skills, assets, and time.
The entrepreneur leverages the unique nature of the product or the reputation. The entrepreneur doesn't sell their time; they sell other people's time and expertise, they create opportunities, build relationships, networks, sales distribution, and situations.
The entrepreneur scales, and so the entrepreneur makes 10% profit, but on 200 times more work than the freelancer. Remember that 80% of 100 is 80, but 10% of a million is 100,000.
That's the difference between the entrepreneur and the freelancer.
Blog Post Number - 4340
Leave a comment