Some things are bought, like bottled water, airplane tickets and chewing gum. The entrepreneur sets up shop and then waits, patiently, for someone to come along and decide to buy from them.

Other things are sold, like cars, placement of advertising in magazines and life insurance. If no salesperson is present, if no pitch is made, nothing happens.

Both are important. Both require a budget and a schedule and a commitment.

Confusion sets in when you’re not sure if your product or service is bought or sold, or worse, if you are a salesperson just waiting for people to buy from instead of you selling to them.

It’s important to know what business you are in: Are you sold or bought?