During the COVID19 situation, all of us need to think about the next change that going to happen soon. Entrepreneurs/ business leaders now might be busy with finding new ways, strategies for the future. This would be the time to pause thinking about innovation to drive business growth but cultivating a real culture or create an appetite for intrapreneurs, who can drive the next big change that is going to take place.
Everybody knows about “Entrepreneur” but who is an intrapreneur.
It’s often said that the squeaky wheel gets the grease; intrapreneurs are those who grease the wheels without always looking for praise. An Intrapreneur is recognized as a person within the organization who takes direct responsibility for turning an idea into a profit through assertive risk-taking and innovation. A crisis is the best time to find these shining diamonds in your organization. They share similar characteristics the same as the entrepreneurs. They think outside the box, problem-solve and they are good idea generators too.
Think about your team, who comes to you and say “Hey, I have this idea, what do you think?”. Think about companies such as Netflix, Airbnb, Monzo, Revolut who had been creating disruptive products. Estée Lauder announced a “Tech hub” to look at ways new technology can help it stay competitive, and this year L’Oréal launched an Intrapreneurship Award. Because they saw the value of those people who say “Hey, I have this idea, what do you think?” Identify them early and ensure they have the room and resources to thrive and help your company grow.
Hence, take some time to talk to your team genuinely. Explain the situation. It’s time to understand who are your intrapreneurs to drive through this critical global issue as they might have better ideas and solutions to develop the company.
The followings are the common traits to find successful intrapreneurs.
01. Total commitment
Intrapreneurs take direct responsibilities. Their mind is constantly working and challenging the status quo. They come up with new ideas, new strategies as they see the world through the lens of administrative and financial operations of the business and relates the everyday decisions of the company.
02. Adaptability
Intrapreneurs work well in the start-up industry as their ability to thrive in a changing environment. They are excellent at observing, reflecting, accepting and adapting. They welcome growing pains.
03. Internally motivated
Intrapreneurs are not solely driven by profits. Therefore they are typically motivated by how they can contribute.
04. Confidence
Confidence is a state of mind and a state of being. Positive thinking and engagement with like-minded people are central to the dynamic creation and execution of successful business plans, which promotes attractive returns on investment.
Being able to recognize the intrapreneurs in your company will make you better equipped to face especially for crises such as COVID19. Championing intrapreneurship inevitably encourages your company to challenge the status quo and will lead to having a vibrant workforce.