Do you want to be an Entrepreneur or a Small Business Owner? Is there a difference, and does it matter? There is a difference, and it's easy to confuse the two or use the two terms interchangeably. As you prepare to become your own boss, or if you have already started a small business, it's important to keep your long-term vision in mind. Doing so will help you determine the type of business you start and build, helping ensure that you achieve your definition of success.