Intrapreneurs & Entrepreneurs

01 Apr Intrapreneurs & Entrepreneurs

We had the opportunity to speak to students of the University of Minnesota’s Entrepreneurial Club Wednesday, and the topics we shared about were our experiences and insights into Intrapreneurialism and Entrepreneurialism.

Many people are Intrapreneurs.  An Intrapreneur is essentially an Entrepreneur within a company who organizes and operates a business or businesses and takes on greater-than-normal financial risks and leadership responsibilities.

We recommend this route to the graduating student trying to get a taste of the entrepreneurial world, because it is an education unto itself. It is much easier for intrapreneurs to make the leap to become entrepreneurs because intrapreneurs understand the risks, have a taste for the rewards and have established plans and processes for success, in terms of taking an idea through development and to market, understanding finance, markets, and most importantly, working with people to achieve success.

Axiom teaches many professional courses and seminars in new product development, product management, leadership and team skills, and we also teach courses in colleges across America. Most schools have an entrepreneurial program, but few teach about being an effective intrapreneur, which requires a similar skillset with less risk.

Before entrepreneurs go down the intrapreneurship path, they need four essential components:

1. A Product or service concept they believe in and have researched regarding both financial viability and viability within the marketplace. Both components are essential.
2. The Passion required to provide the energy and follow-through to make it happen, sell others on the concept and convince investors.
3. The People skills to make it happen, and potential partners or other right people to do so. From operation to finance, marketing and sales, every discipline requires the right person in the right job to achieve success.
4. Perseverance is important to any profession, but to entrepreneurs and intrapreneurs, it is critical. Being an entrepreneur requires work, internal patience and a level of persistence that perseveres often beyond your wildest imagination.

If you have any questions about intrapreneurship, feel free to contact rbeachy@axiomcom.com.

For more quick resources, visit:

• The Rise of the Intrapreneur – Fast Company
• Recognize Intrapreneurs Before They Leave – Forbes
• A New Model for Innovation in Big Companies – Harvard Business Review