What does an intrapreneur do?
An intrapreneur is someone who works for a company and is tasked with developing a new idea or project. The intrapreneur may not take on the vast risks or win the enormous benefits of an entrepreneur, but they can use the resources and skills of a company that already exists.
What an intrapreneur does
People who work for a company and are given a particular idea or project to work on are called intrapreneurs. They have the time and freedom to work as a business owner would.
They are not working alone, though. When intrapreneurs work for a company, they can use its tools and skills.
An entrepreneur starts a business to offer a good or service. An intrapreneur wants to make a business better.
The goals of businesses and intrapreneurs are different—an entrepreneur dreams of starting a business from scratch. An intrapreneur sees the bigger picture for a business that already exists. This vision could mean significant changes to how the company does things, its goods, and its traditions. The intrapreneur usually brings skills and knowledge that can be used immediately.
How intrapreneurship came to be
The word “intrapreneur” comes from the words “internal” (or “intra” to mean “internal”) and “entrepreneur.” The term “intra-corporate entrepreneurship” was first used by Gifford Pinchot III and Elizabeth S. Pinchot in a white paper for the Tarrytown School for Entrepreneurs in 1978 by the same name. The term became more commonly used in academic works after this white paper came out. A story in Time magazine in February 1985 called “Here Come the Intrapreneurs” made the term even more well-known.
Advantages of being an intrapreneur
An entrepreneur starts a business to offer a good or service. An intrapreneur looks into policies, technologies, or apps that can help a business do better. A person who starts as an intrapreneur will eventually become an entrepreneur as they learn how to spot and solve big problems.
People who work as intrapreneurs can expect to have the freedom and independence they need to do their job. Usually, day-to-day results are not asked for. The intrapreneur should look at the trends and understand them so the company can plan its future. Intrapreneurs combine what they’ve learned and devise ways to stay ahead of their rivals.
Most of the time, an intrapreneur has the freedom and independence to try out new projects, but sometimes they have to do this on top of their regular job.
Over time, intrapreneurs often become the top leaders of a company. Since they know much about the business at every level, they move it forward and reach the top. When intrapreneurs work to solve problems, they help other skilled intrapreneurs grow and bring in more new ideas that are good for the company.
What an intrapreneur looks like
Pinchot says that intrapreneurs are people who follow some of the following rules in the original “Intra-Corporate Entrepreneurship” whitepaper:
They might risk something vital, like giving up time or money.
- A company and an intrapreneur should share the benefits of an intrapreneurial project clearly and fairly.
- Let the intrapreneur build something that works like capital.
- They are given freedom by the company after they’ve earned it.
- Become their own “venture capitalist” in a business.
Most of the time, intrapreneurs are highly motivated people with special skills, leadership skills, and an innovative idea that other people in the company can support. Even though intrapreneurs have a “day job” and regular tasks on top of their new business, they are still ready to take risks and look at market trends to figure out what a company needs to do next to develop new ideas or stay ahead of the competition.
An excellent example of an intrapreneur
In less than a year, eBay’s chief of staff for global product management, Healey Cypher, saw that the company was missing out on a big chance to make money.
At that time, eBay’s only service for customers was online shopping. Even though online shopping has become more popular, most sales are still made within 15 miles of a person’s home. Many eBay sellers told Cypher they also wanted to have an actual store.
Cypher put together a group of engineers to make tools that could be used to increase eBay’s presence in real shops after talking with eBay’s chief executive officer (CEO). The engineers made a dynamic storefront that ToysR” Us put in place. They did the same for TOMS, Sony, and Rebecca Minkoff over the next two years.
Because of Cypher’s success, eBay added a new section that gave workers more freedom to solve problems and move the company forward. Craig Cypher was made Head of Retail Innovation at eBay.
Conclusion
- An intrapreneur is someone who works for a business to come up with a new idea or project that will help it grow.
- You can make the word “intrapreneur” out of the words “internal” and “entrepreneur.” In a 1978 white paper, Gifford Pinchot III and Elizabeth S. Pinchot were the first to use the phrase.
- Most of the time, the intrapreneur is given the freedom to work on a project that could greatly affect the business.
- An intrapreneur may become an entrepreneur and start their own business outside of the existing company.
- Most of the time, intrapreneurs are highly motivated people with special skills, leadership skills, and an innovative idea that other people in the company can support.
