Why your Business Should be Investing in Intrapreneurs in 2020

Entrepreneurial spirit is having more than just ‘a moment’. Since the start of the new Millennium, we’ve seen a huge explosion of unicorn companies (startups that are valued at $1 billion or more). Lauded as innovative successes, these companies and their entrepreneurial leaders have changed the topography of the business landscape.

Entrepreneurs are known for both their ideas and their risk-taking; they tread new paths where others follow the already-trodden roads. Many become wealthy, successful, and even famous in the process. From Steve Jobs to Richard Branson, entrepreneurs are heralded for taking a leap of faith and creating something unique and new as a result of their perseverance.

How Intrapreneurs can help your business

While this is all well and good, we can’t all be entrepreneurs. Businesses need manpower; employees to fulfil a large and vast number of roles. After all, it is the hard work of teams (not individuals alone) which make an entrepreneurial vision a real-world reality.

With the much-acclaimed magic of innovation, systemised creativity and the (now-proverbial) ‘disruptive thinking’, it’s not surprising that both startups and long-standing corporations are looking for employees who encapsulate these coveted qualities.

Thus, came the rise of the intrapreneur.

What is an intrapreneur?

An intrapreneur is an employee who brings all the passion and creativity of an entrepreneur to their everyday work. They aren’t afraid to take risks, make mistakes, or swim against the tide. While many employees fall prey to the everyday grind, intrapreneurs are restless – they ask ‘why?’ where others mindlessly accept. Another key aspect of intrepreneurism is vision. They look beyond the confines of their daily job to seek out ways of improving, bettering and driving the business.

The role of the intrapreneur has often been misunderstood or overlooked by businesses. In fact, some companies are daunted by the daring and risk-taking of the intrapreneur. They are put-off by the ostensible recklessness of an intrapreneur employee because they fail to see the big picture benefits they can bring.

Other businesses may actually recognise intrapreneurial talent and still be reluctant. The shine of the intrapreneur is marred by fears that this individual will soon make-off on their own and take their good ideas with them. It can lead to a smothering of intrapreneurial spirit, or limiting of their creative freedom – all because of a misguided belief that tighter constraints will make them stay put.

Making the investment

The first step in the investment of intrapreneurs is an adjustment in company culture. Notice I mention intrapreneurs (plural). This is because having one disruptive individual amongst a sea of conformists is unlikely to be fruitful. Every team and department should have at least one employee marked out for their innovation-aptitude.

By ensuring the company as a whole is united by both an understanding and vision of innovation, intrapreneurs can truly flourish. Some companies now hire innovation execs or ‘change’ managers to keep a healthy dose of creativity flowing through the ranks, but identifying natural intrapreneurs in the recruitment process can kill two birds with one stone. When every department and team counts an intrapreneur in their ranks, the innovation benefits will naturally radiate throughout the company.

The right resources, the right person

A key difference between entrepreneurs and intrapreneurs is that while the former use their own resources, the latter rely on the resources provided by the company. To truly invest in intrapreneurs, you must provide them with access to the right resources. After all, even a fire needs fuel.

Resources can count everything from physical materials to mental freedom and capacity (i.e. time). Micromanagement is the kiss of death for intrapreneurs. Cheesy though it may sound, for their creativity to fly, they must be able to spread their wings.

A good intrapreneur may question decisions and suggest new ‘out-there’ ideas, but they should also be respectful. It’s important to watch for wolves in sheep’s clothing. Listening well and providing considered reflection are two of the key qualities of true intrapreneurs; put in the right environment, they make inspiring leaders and thoughtful colleagues.

It’s catching (in a good way)

The beautiful thing about disruptive thinking is that it can be learned. Contrary to popular belief, anyone and everyone can be creative if they use the right techniques. Highlighting intrapreneurs in the business will prove to other employees that being bold, creative and different really does reap rewards.

For leaders and managers looking to both motivate their intrapreneurs, and persuade other employees to follow suit, the key lies in promoting a growth mindset. There are huge amounts written about the psychological difference between a growth mindset versus a fixed one. The integral takeaway is that grit and perseverance are key to success; often more so than pure talent or intelligence.

To foster a growth mindset in your company, focus on praising the process not the outcome. Doing so teaches individuals to believe and value the learning curve more than the reward. This means employees will both better handle mistakes and prioritise their own learning and progress (over reward and outcome).

Investing in intrapreneurs is the first step in an innovation journey with endless possibilities. Bring the magic of the entrepreneur to your everyday business for bigger successes and a more fulfilled workforce.

Written by Chris Griffiths with Caragh Medlicott. Chris is a world-leading creativity expert and creator of the app www.ayoa.com – a platform used by top thinkers to boost productivity.

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