Do you have intrapreneurs at your workplace? Are you effectively leading intrapreneurial employees?
The term "intrapreneur" is derived from the two words "internal" and "entrepreneur," first coined by Gifford Pinchot III and Elizabeth S. Pinchot in the 1980s. An intrapreneur is an individual with all the traits of an entrepreneur except for the outsized risk that is faced by entrepreneurs. Intrapreneurs are free to innovate an idea or develop a product while being associated with a company. With each passing day, intrapreneurs can use their creative skills to start their own venture outside of an organization.
It is exciting to witness more people trying to fit into the role of intrapreneurship and manage their skillset to meet business requirements. However, the real challenge comes in finding the perfect balance between intrapreneurship and the benefits associated with the business.
Potential intrapreneurs share certain characteristics that can easily be spotted. Some of these are:
Also, failure is less likely to make an intrapreneur give up and more likely to be seen as a chance to learn something.
Keeping all these traits in mind will help you find potential intrapreneurs in your organization.
4 Tips to Lead Intrapreneurs Effectively
Here are a few useful tips for you to lead intrapreneurs in the best possible way:
You can start by establishing an intrapreneurship program that welcomes innovation, cutting-edge ideas, and challenges. This needs to be a constant journey that requires employees to work outside of their comfort zones and generate value that resonates with the company’s vision and mission.
Intrapreneurship consists of several benefits that need to be identified, understood, and utilized to gather the intrapreneurial skillset. From encouraging your employees to work outside their comfort zone to providing them access to the best tools and resources, the intrapreneurship program is all about innovation and growth.
Several companies, such as Infosys Technologies, Airbus, Google, etc., have made it big by practicing the skills of intrapreneurs. You can always take inspiration from these companies and many others out there to ensure the existence of intrapreneurship in your organization.
Finding out different ways to train and mentor your employees will offer them various opportunities to grow in their business. conducting workshops to train them in soft skills such as communication, project management, etc. In fact, you can take help from existing intrapreneurs to mentor future intrapreneurs.
Great things do not happen overnight. It’s necessary to allow employees some good time to brainstorm their ideas and come up with the best strategies and plans. Practicing this act will let them think freely and without any time constraints.
In the end, all that matters is executing the ideas to convert possible plans into reality. Embracing intrapreneurship is not a one-night journey; rather, it's a process that requires brainstorming, research, proper planning, and then, sigh! You create the final proposal.
Acknowledging future intrapreneurs for their progress will motivate them to reach their desired goal. Employees will stand out from the crowd if they are recognized and rewarded for their contributions.
Isn’t it interesting to implement such initiatives that foster the relationship between employees and the company? Implementing this tip will also promote a culture of transparency at your workplace. Performance appraisals and reward systems will serve as the best ways to incorporate entrepreneurial qualities among employees.
Cultivating intrapreneurship does not happen overnight. It is a constant process driven by innovation that guarantees the mutual benefit of both employees and the company. Although intrapreneurship is not as hyped as entrepreneurship, it has still caused a stir in the tech space.
Undoubtedly, intrapreneurs are the next big trend that might help companies create value beyond the existence of traditional products and services. You can be the next big company to make it big by launching your own intrapreneurship programs like the ones Sony, Amazon, and Meta launched. With all the tips mentioned above, you can effectively lead the intrapreneurs in your organization and promote intrapreneurship. For more information on intrapreneurship and other trending topics, do not forget to check our latest posts on Amplifyre.