By definition, an intrapreneur is a person who works for a bigger company. However, he has the liberty to act as the leader of the business. Most of the time, the intrapreneur is responsible for handling a small team. All projects delivered, or tasks completed by this team will be owned by the intrapreneur. Meanwhile, they are also given the freedom to make “crucial” decisions and even take up initiatives with the brand at its core. Many a time, when you search for intrapreneur in “Google” or any search engine, you will be asked if you looked for “entrepreneur”. Well, both these terms are often confused. Yet, you need to understand that there is a marked difference in both these roles.
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By definition, an entrepreneur is a person who has their own business. The business is owned by them, and they are responsible for the profit or loss incurred by the brand. Being the owner of the company, they have absolute freedom to do anything with their company. Most of the time, entrepreneurs lead a riskier life that the intrapreneurs. However, when the business grows and makes more money – the owner is likely to benefit the most.
Benefits of Intrapreneurship
When it comes to working under a boss, for another company – but acting as the leader – there are rewards. Most of the time, the intrapreneur is known to have a grip in the industry, and plenty of appeals. When they excel, the entrepreneur is more likely to appreciate them. And, appreciation comes in all forms to the intrapreneur. It could be improved visibility, more opportunities, enhanced learning, plenty of money, and even the power to connect with crucial people in the industry. All of these are important for a “person’s” growth in their career. However, the intrapreneur gains these perks without a big investment or taking too much risk. They don’t have to worry about any major failures, losing a reputed employee or even bankruptcy.
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When an intrapreneur establishes himself/herself as an irreplaceable asset in the company, they are bound to be adorned with tons of perks and benefits.
Sometimes, you need to ask yourself, if you are an intrapreneur or an entrepreneur. Here are a few questions that can help you find answers to this puzzle:
- Can you tolerate risk?
- Does the idea of owning a business excite you?
- Do you value freedom or the process of being valued at another company?
- Does job security mean the world to you?
- Will you be able to test, and try new cultures?
Benefits of Entrepreneurship
On the other hand, becoming an entrepreneur has a dozen benefits too. Entrepreneurs are people with a “spark”. They often the passion to do something big, and special. Of course, it takes a million-dollar idea to become a successful entrepreneur. Yet, the journey will be great and adventurous. If you are able to put together a great idea, a working team and a brand that targets the right audiences – the entire process of starting a company will pay off. Nevertheless, this is never a simple journey. There will be many obstacles and risks.
Before you choose to become an entrepreneur, here are a few questions you must ask yourself:
- Are you willing to take as many risks as possible? Do you have the willpower to lose, for a bigger gain?
- Do you specialize in a specific piece of work? Do people recognize you for this?
- Do you have an idea that can change, and make the world a better place than it was before?
There is a big gap between intrapreneurship and entrepreneurship. These are two different worlds, with unique benefits, drawbacks, and features.