You don’t need to own the business, to own the business results.
"Following the rules of your industry will only get you so far."--Max McKeown
You’d be forgiven for thinking that there is no place for new entrepreneurs in an organisation on our scale. After all, unless you founded the business and fronted the money, thereby taking the financial risk on yourself, the term literally does not apply.
But while that is factually accurate, that does not mean there is no room for disruptive thinkers and inquiring minds within our teams.
Enter the intrapreneur.
The what?
As you’d imagine, an intrapreneur takes the same bold steps expected of an entrepreneur but within the framework of an existing business. They are likely to lead their own team and might well be spearheading initiatives and products outside the wider company’s core offering.
This may seem far less risky and financially you’d be right. But there’s nothing wrong with being an intrapreneur. It is widely believed that creativity is actually boosted by clear boundaries and reasonable restrictions. In a company like ours, that framework is built for you, leaving room to create wildly within strict parameters. Intrapreneurial minds are incredibly powerful assets to any company and as such, are usually highly regarded and compensated well.
According to Hubspot, intrapreneurs were instrumental in bringing some of the biggest products in the world to market - Google’s Gmail, Apple’s Mac and even the ‘Like’ button on Facebook which changed the face of social media (and the internet).
In Pearl Zhu’s 28-part guidebook to becoming a ‘digital master’, we find some choice insights regarding just how influential an intrapreneur can be in a large-scale company.
● Intrapreneur leadership is a unique combination of “being innovative” and high mature leadership behaviours that achieve high-quality results over a sustained period of time.
● Intrapreneurship is about creating a new venture from within established organizations to leverage the startup culture for catalyzing changes and inspiring innovation.
● Running an innovative business doesn’t mean everything goes rogue, practicing intrapreneurship in a large organization also doesn’t mean getting rid of all rules. Instead, a high-innovative business has more discipline, not less.
● Corporate intrapreneurship activities enhance a company’s success by advocating a culture of creativity and enforcing business innovations.
While the term is certainly not as widely used or understood as its sibling, more and more large-scale companies around the world are starting to take notice of this kind of disruptive thinking within its own ranks, utilising them to innovate just as powerfully as anyone leading any start-up business to unicorn-status.
Look around you - there could be a wealth of untapped potential and creativity within the team already. An intrapreneur could be anywhere and that’s the beauty of it.
Have you checked our new Its Up to You Entrepreneurship program? If not, read all about it here or visit the DLZ.
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