Have you heard the word “intrapreneur“? If not, you missed a very interesting concept for your work. Every business idea has not always begun with an Entrepreneurship. But, some ideas are kickoff inside the company by an employer while working.
Intrapreneurship is an inside entrepreneur in the company. Employees become intrapreneurs when he gets the highest freedom to use the creativity and can find the arbitrary decisions. They need to overcome the boundary of you and me, with that individuals create new and better norms within larger structures.
Great ideas come when a company lets employees think, experiment and play. Currently, we are experiencing some of the best results of the Intrapreneurship. One of them is “Gmail”. Yes! You heard it right. Google allows time for personal projects. Some of Google’s best projects come out of their 20 percent time policy. Paul Buchheit is the creator of Gmail. Companies like Shutterstock (hack-a-thon), Sony (play station), Facebook (Facebook Light) provide this policy to encourage the creativity.
Who is An Intrapreneur?
Entrepreneurs and intrapreneurs differentiate by the setting in which they work. In many cases, intrapreneurs are able to work on a special project or they work with new ideas within their organization.
“An intrapreneur is an inside entrepreneur, or an entrepreneur within a large firm, who uses entrepreneurial skills without incurring the risks associated with those activities.” – Definition by Investopedia
Intrapreneurs work under lower risk and companies venture the idea for the employee. They don’t need to search for the capital to launch the idea. Rather the company will venture for you. There are lot more opportunities to explore for an Intrapreneur.
“Intrapreneurship is an Attitude, not a Department “
The opportunities for Everyone.
When a company allows ingenious minds to explore their passion from within, it improves morale, health, retention, etc. The drive of the employee for creativity payoff to the company by adding a new product or service offering that can be tomorrow’s major revenue.
You get paid for inventive Launch:
Intrapreneurs get paid for their work. For every startup, there is a team of the angle investors and you need to convince them for financial support. In the case of the intrapreneur, they get company’s back for investment. It not only provides cover to employee funding but also, the company is able to cover some of the initial costs of own investment.
Self-starters inside the company need to have a high focus on achieving goals. If you identify the problem in a current situation, and you create a better solution with that develop the new product. That will be financed by the company to work on your project. Within the well-entrenched environment, you can achieve your goal.
To enhance your potential:
The equity must be shared as this gives employees a sense of value in the company. While working, you can redevelop the skills and learn new skills too. But, starting a new line of business inside the company will give a birth to the new personality of yourself.
With that, you can achieve and be an intrapreneur, with a higher probability of “success” over the long term to unlock your potential for work.
Better Collision for career:
Remember that a big part of entrepreneurship is being creative and having fun. The same case is with the Intrapreneurship. You don’t get too bogged down in details or little mistakes.
An intrapreneurship can be a turning point in career, because you develop new ways of working, enhance your way of living and working on building an empire of successful business
There are opportunities, which can be avail by any employee if the company will allow to do so. Few companies like Google, Sony and Facebook give 10% to 20% of their working time to enhance creativity. However, others are not doing such things, so the employee have to face some challenges to develop the way.
Challenges faced by the intrapreneur.
- Conflict between the management. Every board member will not agree upon the fact to launch the line of success. Inside company the conflict will arise with the idea of the intrapreneurship.
- Claim for ownership may harm your existing position in the company. Then you have to work with a list of product development priorities to the intrapreneur’s team. When all are not agreed on the same line it develops a rivalry in the organization.
- When the different line launches within existing setup. Team members could get confused and ultimately frustrated while dealing with inconsistent communication between the company and the new leader.
- The resources problem gets occurred inside the organization. Inside cash flow can be great when times are good, but it introduces uncertainties entirely outside the intrapreneur’s control.
- Lack of experience in starting a business, because of that you might take the wrong decision. That leads to create the negative impression in the organization.
In Conclusion:
An intrapreneur is not an easy task to handle, but surely the great way to achieve success within the existing working environment. In the field of an intrapreneur, the job is thankless and minuscule as compared to those of the entrepreneur. But, if you decide to do work on your dream then you need to develop the right attitude and work, not just for yourselves, but also for the organization in which you are currently serving.
What’s your take on what you just read? Comment below or write a response and submit to us your own point of view or reaction here at the red box, below, which links to our submissions portal.
◊♦◊
Sign up for our Writing Prompts email to receive writing inspiration in your inbox twice per week.