Entrepreneur vs. Intrapreneur
An entrepreneur operates their own company having complete freedom and responsibility. An intrapreneur is responsible for “innovating within an existing organization (usually a big one). Intrapreneur can be defined as a “professional at a company who uses his or her talent and skills to lead the launch of new products, services, projects, business lines, etc. with an entrepreneurial mindset.” (Guillem, 2019).
An entrepreneur has full control over the project, business ownership, freedom to maneuver, and a 100% commitment, while an intrapreneur lacks these aspects, they have structure, resources, financing, accelerated stages, controlled risks, and multiple career opportunities.
“Start-up culture has now taken such a hold that 62% of millennials want to be entrepreneurs.” (Gulliem, 2019). The reality is that a high percentage of start-ups fail.
According to smallbiztrends.com more than half of all startups actually survive to their fourth year. The startup failure rate at four years is approximately 44 percent.
The Intrapreneur role/position helps drive internal innovation.
Although an intrapreneur generally works at a large company and acts like the leader of a startup; they typically only manage a small team. They generally have complete “ownership over a product or initiative that’s separate from their organization’s “core” business.”(Frost, 2019).
One can take on the role of an intrapreneur by simply working to improve functioning within a company. For example, creating a faster more efficient method of doing a daily procedure within a company that helps save time and costs.
Benefits of Intrapreneurship
Intrapreneurs gain visibility, money, power, connections, and opportunities for learning, all without much of the risks an entrepreneur has to overcome. An intrapreneur is of great value to their company and is usually compensated well in return, with added benefits and perks.
Determining Which Is A Better Fit For You
To determine if an entrepreneur or an intrapreneur is a better fit for you, one must consider certain aspects and ask certain questions. “Would I rather have the resources and support of a large company or the freedom of running my own?” (Frost, 2019).
If more companies adapted to growing trends in intrapreneurship, greater innovation could come about with individuals having innovative ideas, the added support including company resources and financial backing would help make these ideas become a reality.
Personally aligning with the creator brand archetype, believing “if it can be imagined, it can be created, I fully understand the benefits and risks of being both an intrapreneur and or an entrepreneur and the passion and determination it takes for both!
Please comment below and share your thoughts on entrepreneurs vs. intrapreneurs!
Frost, A. (2019, May 23). Intrapreneurship vs. Entrepreneurship. Retrieved July 9, 2019, from https://blog.hubspot.com/sales/intrapreneurship-vs-entrepreneurship
Guillem Sanz. (2019, January 22). Now is the time for intrapreneurs. Retrieved July 9, 2019, from https://guillemsanz.com/now-is-the-time-for-intrapreneurs/
Thank You For Reading!
Jess Gold –Digital Marketing Strategist