Entrepreneurship is the act of creating a business for means of profit per Oberlo. This is very different from the definition of an Intrapreneurship, which is a manager within a company who promotes innovative product development and marketing per Oxford’s Lexico.
ENTREPRENEURHOOD VS. AN INTRAPRENEURHOOD
- An Entrepreneur starts and owns the business and takes the financial risk, while an Intrapreneur does not necessarily own the business (although they could have some form of stock) and is not fiscally responsible for the outcomes of that business.
- An Entrepreneur, like an Intrapreneur, both have to come up with creative ideas and new products to help try and scale the business in a meaningful way.
- Unlike the Entrepreneur, the Intrapreneur does not take the financial risk or responsibility if and when a new product fails.
WAYS TO BECOME AN INTRAPRENEUR AT WORK
- Understand what problems are consistently coming up in an organization and what can be done to solve them.
- Try to get a good feeling from everyone as to how you can meet the needs of the organization to drive human active and collective responsibility and accountability towards these new goals.
- Consider how you can help the company save money. Are there unnecessary costs that can be cut with new avenues or shortcuts that can help the bottom line?
- Figure out who you’ll need to talk to about these ideas. The best way to approach an executive is divulge the problem and come up with the solution, asking if they believe that is the best route.
- Be aware of your strengths and weaknesses and figure out how these can better help drive the business forward.
- Think about what you actually enjoy doing, then make a step-by-step plan to help yourself reach your planned goals.
- Know what the delegate and when, to focus on the things that matter.
- Make a yearly plan that backs out into quarterly, monthly, weekly and daily goals. Your long term plans can only be achieved with short term actions.
- Ask yourself, what can I contribute today? If you don’t know, then ask management.
- Ask your clients and customers what is important to them, how your current product helps them and how it can be improved.
In what ways are you an Intrapreneur an work?
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