Please Try again!
Why You Should First Be an Intrapreneur   To Become an Entrepreneur
Intrapreneurship is the new Entrepreneurship

Why You Should First Be an Intrapreneur To Become an Entrepreneur

Are you an entrepreneur or intrapreneur? Let's look at the traditional entrepreneur first!

Entrepreneur manages and organises the business with initiative and risk. They focus on the large scale of business and dealing with an organisation that is more in flux. They enjoy all the rewards and credit because only they bear the full brunt of failure.

We all know who entrepreneurs are, but what exactly is an intrapreneur?
Intrapreneur is a new concept that has become popular in the business world as big companies struggle to find ways to maintain the competitive edge in the economy. Intrapreneurship focuses on the employees of the company that have attributes of entrepreneurs. They are more in the internal affairs of the business, for that purpose they get the freedom and resources to create new solutions.

Suits vs. Casual (Entrepreneur vs. Intrapreneur)

Is there any difference between them or are both playing the same role, one wearing suits and the other casual?
While there is no black and white answer to this question, we manage to colour some grey areas. There are some distinct differences, but they share common than what differentiates them.

The difference between entrepreneur and intrapreneur is multi-folded.
⦁ On the level of focus, unlike the entrepreneur, the intrapreneur is not focused on the entire company. An entrepreneur sees the company as long term vision from start to end point while intrapreneur is a facet of this long term vision.
⦁ Entrepreneurs are skilled problem solvers who can take the important task of the company while intrapreneurs are the major contributors to increase the productivity within the business.
⦁ The financial and professional risk is the biggest difference between entrepreneurs and intrapreneurs. An entrepreneur starts their own business with their own resources, on a contrast intrapreneur uses the company's resources to better the company where they work.
⦁ If business dies, only entrepreneurs bear the brunt of the financial fallout, not the intrapreneurs.

⦁ Both are taking the risk and find more effective ways to accomplish the tasks.
⦁ An entrepreneur requires the aptness to experiment along with freedom so does an intrapreneur. An intrapreneur requires the autonomy along with the independence.
⦁ In a similar role of entrepreneurs, intrapreneurs are the drivers of innovation of the company.
⦁ Both share the similar qualities like zeal, conviction, insight and creativity.
⦁ Entrepreneurs are the visionaries who identify the market problem, take the risk and get the external investors to fund, so the intrapreneurs are but with the limiting internal funding source.

Personality and skills
Let's have a look, on the personality traits and skills for entrepreneurs and intrapreneurs.
Both are risk takers, but entrepreneurs are bigger risk takers.
Entrepreneurs are independent thinkers, hence building their own culture while intrapreneurs are the adapters to the existing culture.
Regarding personality, the difference between intrapreneurs and entrepreneurs are openness, agreeableness and mannerliness. These traits are more important when you are working in an organisation.
The skill of being a team player is more important for intrapreneurs than entrepreneurs.

Turning your employees into Intrapreneurs (From casual to suits)
There have always been live wires in companies who move the needle forward but never before there has been such a push for employees to take ownership of their own corner of a company. But not every employee is cut out for the intrapreneurship. A growing number of employees called intrapreneurs playing a crucial role to re-ignite the flame for business success. Don't let the opportunity pass you by; innovation is happening all around you, right now.
For business boom, get your intrapreneurs think like entrepreneurs. To be an intrapreneur, the following skills are necessary:
⦁ Knowledge of the internal environment
⦁ Having the entrepreneurial spirit
⦁ Adaptable and flexible personality
⦁ Need to be result driven
⦁ Resourceful and networked

The key to success: Intrapreneurship is the new Entrepreneurship
One should know the link between entrepreneurship and intrapreneurship for the business growth. Basically, both are interlinked. Eventually, intrepreneurial tasks build the skills needed to become an entrepreneur.
Every entrepreneur goes down the road of an intrapreneur. We can say, intrapreneurship is the primary stage of becoming an entrepreneur. It is like being on both sides of the table.
Even if you are an intrapreneur, think like an entrepreneur. Intrapreneurs become the most important asset of the company. The grass always seems greener on the other side.
Now it is understood that how important intrapreneurs are for the business success.

(About the author: This article is contributed by Kapila Tanwar, a writer affliated with QuickCompany)

Contribute to LifeHacker

Write for Us

Subscribe for latest stories