Have you heard of intrapreneurship and how it can help them create growth opportunities for yourself in your career?
You probably found this post of my blog because either you're looking for a way to get promoted, or you're interested in this intrapreneurship thing that you've been thinking about.
You might even work for a company that counts entrepreneurship, or the entrepreneurial spirit amongst its core values. And if you're anything like me, even if you work for one of those huge, massive companies, you still see yourself as an entrepreneur within that company.
Now if it sounds anything like you, today's post is focused on how you can actually foster entrepreneurship within your company during your nine to five without having to create some side hustle just to fulfill as part of your interest and growth path.
Intrapreneurship is essentially being an entrepreneur within your company. It can be a formal thing where it's actually a job, and you're focused just on creating new business units, product units or services to bring into the market. Maybe those eventually even splinter off to become their own entities or own companies. Or it can be an informal thing where you're finding services, products, or even just enhancement initiatives to launch to create a bigger, a stronger and more profitable company.
And if this is something that aligns with your career goals, am going to give you four reasons today to consider intrapreneurship as part of your career growth strategy.
It Generates Revenue
Yes, I couldn't actually start any list without having the thing that makes the world go round, top and number one...
Now as an intrapreneur, there's two different ways that you can actually impact the money or the cash at your company.
The first is the more obvious, and that's probably the way that you think about it automatically when I say intrapreneurship, and that is actually creating new revenue streams or enhancing revenue potential for existing channels for your company.
This is basically top line growth.
However, intrapreneurship can also include cost savings. This could actually be reducing the cost of operations, which does impact your profits, because it impacts your margins in a positive way.
So basically, what intrapreneurship breaks down into is two different categories: top line growth or bottom line growth.
And regardless of which financial impact your intrapreneurial project is going to have the main core and essence is that it's going to generate more profit for your company, regardless of your intrapreneurial project is going to drive a new revenue stream or reduce costs. The main thing is, it's going to impact your company's bottom line.
It Shows You Take Initiative
Now, there's the saying fortune favors the brave. And I know it's a cliche, but as a cliche for a reason.
Listen, let's just be honest here.
Most people show up to work, they do their nine to five, they meet expectations, maybe a little bit more for trying to get ahead. But most people don't take some real initiative to take a big risk, make a big bet on themselves, and create new ideas and bring forward new innovations. And not just talk about those ideas, and not just pass along that innovation.
But to actually take initiative to bring that innovation to life.
By embracing intrapreneurship, you're getting off your ass and you're doing something, you're exceeding expectations, and hopefully you're doing something and creating impact for your company that truly matters.
It Showcases your Resourcefulness
As an intrapreneur, you're going to be faced with all sorts of challenges that are very unique to creating these initiatives and impacts at your company. Maybe it's that you need help from other teams who aren't actually aligned with the goals.
Maybe they aren't even aware of what you're trying to do.
Or maybe you have actually inspire them to take action on with you.
But you're trying to actually herd some cats and align those different resources to make the timeline work for what you want it to do, or you're tackling and the biggest challenge in my experience, which is actually getting your sales team to sell your solution if you're bringing forward a product or service seriously, I don't know any sales person that doesn't have like 20 products too many to actually handle where they could actually be adequately enabled and have the right resources available for them to even know when to bring it up when a customer might be interested in that solution.
Successful intrapreneurs find a way to navigate around all of these barriers, and you want to be that person who cannot be stopped - because that person gets promoted.
It Gives You the Opportunity to Lead from Wherever You Are
This is one of the main things that I work with my clients on in terms of their career growth strategy is finding the opportunity to lead and to showcase the fact that they are natural leaders in their organization.
Now, this is an easy differentiator, because most people aren't going to be in leading until they're given the official title of the authority to do so.
Most people don't know that they can begin leading from wherever they are within the organization. And then they're left, if they even think of it, scratching their heads and trying to find a way and something to actually take leadership on that isn't stepping on anyone's toes.
Intrapreneurship is going to provide you the perfect opportunity to do who took initiative and inspired action, you're going to be known as the person this as an intrapreneur or you're not going to just be known as the person who became a leader before they were officially a leader.
But of course, this is not easy or else every would do it.
One of the biggest challenges that intrapreneurs face is actually finding the right initiative for them to tackle.
Let's face it, there's lots of things that you could potentially do - but not all of those are necessarily the most important things, and they're not necessarily the things that will make you stand out from the crowd.
I hate to be rude, but if you work on something that no one cares about...
No one's going to care about it.
If you are seeking to flex your intrapreneurial muscle, what you need is guidance, you need help to identify exactly what you should focus on where your biggest impact can be. And to approach it from a strategic perspective so that you have a plan so that it's not just something that you do, but it's something that you become known for. And it becomes something that other people start to evangelize you because of your results.
This is exactly what I help my clients with.
I have a great resource available for you today. If you go to the link down below and in the description, I actually have a free download available for you. And then it's a five new rules to get promoted. And in this guide, I actually give you strategies that are super important if you are looking to become an intrapreneur, and especially if you're looking to stand out and get promoted at your company.
I'd love to know:Are you an aspiring intrapreneur? Have you concepted any initiatives and brought them to life?