Dear Reader,
Thanks for your feedback on our post about becoming an entrepreneur. Today’s post identifies the similarities between an entrepreneur and an intrapreneur. We chose to address this, rather than how an intrapreneur differs from the “everyday great employee”, as we feel that it outlines the differences in a more concise way. Obviously, intrapreneurs are great employees, too, but there are plenty of great employees out there who don’t quite fit the intrapreneur model. Read on! We hope you’ll agree.
How to recognize an intrapreneur
Do you turn to solutions or problems? Can you think outside the box, work the system and add significant value? Are you confident, connected and love new ideas? Can you cut straight to the issue at hand without getting bogged down in minutia? Sounds like a job description, doesn’t it? In a way, it is. You might already be an intrapreneur and not realize it.
An intrapreneur is someone with an entrepreneur mindset who works within a company, rather than have their own business. Companies who are lucky enough to have this type of employee are often recognized as innovative, leading edge and respected within their industry. This is because intrapreneurs aren’t afraid to tackle large challenges and frequently volunteer to take on projects no one else wants to touch. They tend to have insights about trends that could be advantageous to their employer and regularly make good suggestions and share ideas at meetings. They are people of action – and they act, rather than complain, as they recognize the responsibility for personal and business success rests with themselves.
Why would someone with these traits not strike out on their own and open a small business?
Employers, be forewarned – one day, they might do exactly that! Intrapreneurs thrive on solving problems, looking for solutions and building experience: characteristics that will serve them well, whether employed or self-employed.
If current circumstances prevent them from starting their own venture, when the opportunity, finances, family situation and timing is right, they might surprise you and start a business. In the meantime, you have the advantage of having bright and engaged, idea and action oriented people as assets for your company.
Here are other characteristics shared by entrepreneurs and intrapreneurs:
Risk taker
Both are willing to try something new; to risk having big dreams and goals for their organization. An entrepreneur often risks personal finances, stress on the family, future security and personal reputation when starting a business. Intrapreneurs chance much the same by being willing to question the status quo, introduce new ideas and strive for change.
Persistent
Entrepreneurs know it takes continued effort to see results; they don’t give up the first time they hear “no.” Intrapreneurs are also not discouraged if an idea is not immediately accepted – they’ll go back to the drawing board and fine tune until the benefit is obvious. They absorb feedback and welcome input.
People oriented
No matter what industry you’re in, the most successful entrepreneurs and intrapreneurs are ones with great people skills. Negotiating, marketing ideas and helping others serve both the entrepreneur and the intrapreneur trying to make a difference within a corporation. People like to do business with people they know, like and trust regardless of whether it’s buying something from a small business or working on a project within a corporate environment.
Technically savvy
Like it or not, technology is here to stay. Blogging, Twitter and Facebook are the new marketing tools of business. Successful small enterprises and large organizations alike eagerly embrace different ways of operating and connecting with customers. People who thrive in the working world (self employed or within a company) make it their business to get over the fear of the unknown and learn how to navigate cyber pathways.
Failure is not an option
Entrepreneurs and intrapreneurs develop thick skin. They know the best lessons often come from the biggest snafu and are prepared to do lots of internal reflection when something goes wrong. They readily admit their part and rather than dwell on the “shouda/woulda/coulda” finger-pointing game, they make plans to avoid similar problems in the future and build on what did go right.
And a few tips from Allan…
Managers: Intrapreneurs can be found at all levels in an organization – keep an eye out to see who has natural people skills, offers great suggestions and steps forward when times are tough. These are your intrapreneurs. Encourage and support them.
Intrapreneurs: Look for opportunities to volunteer, work on challenging projects and know that not all of your great ideas may be adopted. Respect your organization, while offering well thought-out ideas and suggestions for improvement.