We’re all familiar with what an entrepreneur is – an ambitious businessperson who invests time, money and energy into their ideas, hoping one will eventually be fruitful. But what happens when someone with an entrepreneurial spirit decides to put their skills to use within another company?
Keep reading for a guide to help you decide whether you’re a natural entrepreneur or more of an intrapreneur.
What is an intrapreneur?
An intrapreneur is someone within a company who seeks to find or create new services, products or processes. But although the term is a twist on entrepreneur, intrapreneurs are not simply ‘hired’ entrepreneurs. Intrapreneurs possess unique qualities that help them thrive with the support of an established brand or company.
Wondering which term best suits you? There are a number of questions you can ask yourself to see which role you would excel in.
How much of “yourself” do you put into creations?
If you’re an entrepreneur, it’s all about you. You make the ideas, you follow them up and you create the culture of your business and your brand. Intrapreneurs on the other hand, have to stick to the overall beliefs and processes of the company they’re working for. This can be advantageous if the two align quite well. If not, intrapreneurs can find themselves constantly battling a conflicting style and identity.
Do you like to take risks?
The nature of a business venture for entrepreneurs is exactly that – a venture, with high risks and potentially high rewards. For intrapreneurs, the risk is minimal, but so too are the rewards. A steady salary is what they receive, and their work reflects that. They simply need to find new ways of doing what the business already does. That’s what they (should) do best, and why they get paid.
How do resources fit into your work?
Securing resource is one of the big problems for both entrepreneurs and intrapreneurs. On your own, you can struggle to fund the necessary resources like marketing, tech developers, engineers and salespeople. However, working within a company you can find yourself in competition for the limited resources available.
On the flipside, entrepreneurs might find themselves building a solid network of resources, and intrapreneurs could be in a company with abundant resources at hand.
An important distinction
Knowing the difference between these two roles can have a big positive impact on businesses. Entrepreneurs working as intrapreneurs can soon become frustrated and derailed by all the restrictions. But if they understand and accept their role, they can actually thrive under the new conditions.
So which are you? Entrepreneur or intrapreneur? Let us know in the comments section below.
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