An intrapreneur is an employee who, think, dream, act, and create as though they were entrepreneurs themselves and your organisation is bound to house several of them.
If provided the right environment, these people are sure to contribute to the future success of your company and quite frankly, if not given the opportunities needed, will leave the company and contribute to someone else’s success instead.
To foster the intrapreneurial environment is in other words a big win for your company, and it could be an even bigger loss to fail in doing do.
As already mentioned, intrapreneurs exists within every organisation, but they are not always discovered. If you do not already know who your intrapreneurs are, the time to discover them is now.
Find out who thinks like an intrapreneur in the company by asking yourself the following questions:
- Who seem to come with new ideas and/or advice more often than others?
- Who initiated project a, b, or c?
- Who is perceived as more of a risk taker than others? There is a good chance that’s your intrapreneur(s)
Top benefits of creating an environment that foster your intrapreneurs
To nourish you intrapreneurs and to create an environment where they feel appreciated, seen and encouraged has a plethora of benefits, such as:
- Organizational growth and innovation.
- Improved efficiency, reduced costs and/or increased profitability.
- Identification of opportunities that has been overlooked, thanks to the intrapreneurs’ knowledge of the company from the inside.
- Goal oriented and ambitious employees who are eager to implement positive changes/improvements.
After reading the list above it is very difficult to say NO to creating an environment where these individuals can contribute in their full capacity, is it not?
Top motivator for your intrapreneurs
The ability to nurture and foster an intrapreneurial environment is important for companies that want to reap the rewards listed above. Once you know who they are, the most important work begins which is to retain, encourage and empower them. Here are three of the most important motivators to accomplish this:
- Encouragement and empowerment: These individuals need to be encouraged, however encouragement without independence and the ability to make decisions will not do. Therefore, makes sure they are empowered to make the calls necessary to proceed in their projects/with their ideas.
- Resources and tools: This includes time. To solve problems, think out of the box, and invent or improve processes/products/services your intrapreneurs will need access to resources, relevant tools and time. Makes sure you know what they need and provide it. By creating resource availability for intrapreneurs, companies can empower more ideas and increase the likelihood of creating new and viable areas of business.
- Acceptance for failure. It must be okay to fail. It is important to foster a culture where failures are accepted and seen as part for the learning curve. Accountability is still important, but as long as failures are noticed, corrected and then built out of the process/product/service it is part of the journey. Fear of making a mistake will stifle the whole process and your intrapreneurship will slowly cease to exist.
Bear in mind, that not all your employees will fit the mold of an intrapreneur, nor should they. This is about fostering and attracting intrapreneurs to work alongside your other employees in completing the circle of skills, personalities, and competencies needed to both maintain existing business and processes while also growing and innovating to stay ahead of the curve.
In essence, by identifying, retaining, developing, and nourishing your intrapreneurs your company will sure grow and benefit from it, and you will have fun along the way!
The CIP team