Fostering a culture of intrepreneurship. How enterprising individuals can encourage company-wide innovation.
Anyone can be an entrepreneur. It’s not an elite set of skills reserved for CEOs, sole proprietors and those with top management positions. Individuals within a company that have entrepreneurial qualities, such as being able to take initiative, cultivate ideas and drive the business forward. These people are known as intrepreneurs.
In this edition of Colourworks Insights, we look at how intrepreneurship and adopting an entrepreneurial mindset can benefit your business and improve your performance as an employee.
Own a project as if it were your own business
Fostering an entrepreneurial mindset within your everyday processes leads to creating new opportunities within the business. These ‘intrepreneurs’ know their industries inside and out and take initiative when opportunities present. They make decisions and sacrifices for the good of the project, with the intrepreneur taking full responsibility for the outcome.
Individuals who think like business owners will invest more into their work, and as a result, receive a far greater and more rewarding outcome.
“Intrapreneurs are major contributors to increases in productivity within companies. Like entrepreneurs, intrapreneurs take risks and find more effective ways to accomplish tasks. An intrapreneur, in the most basic sense, is a skilled problem solver that can take on important tasks within a company.” – Murry Newlands – 6 January, 2015 (inc.com)
Branding for personal success
Be your own brand
Thinking like an entrepreneur and viewing each project as if it were your own business, allows for the development of a personal brand. As an intrepreneur living your own brand, you ensure that the quality of your work lives up to your own personal brand values.
“Regardless of age, regardless of position, regardless of the business we happen to be in, all of us need to understand the importance of branding. We are CEOs of our own companies: Me Inc. To be in business today, our most important job is to be head marketer for the brand called You.” – Tom Peters – 31 August, 1997 (Fast Company)
Adapt in an ever-changing landscape
Entrepreneurship and innovation go hand in hand. We live in an age of rapid growth – where technology and trends can go in any direction at any given moment. Entrepreneurs are quick to see opportunities others may not see, and find a way to exploit them. Intrepreneurs are resourceful and are able to adapt to change quickly.
“Those that thrive are quick to read and act on signals of change.” – Martin Reeves and Mike Deimler – July/August 2011 (Harvard Business Review)
“Our economy has survived because the industry leaders had been able to adapt to the changing times and supplied mostly the communities’ needs.” – Amitabh Shukla – 14 June 2017 (Paggu.com)
As an intrepreneur you know the business you’re in, inside and out. More importantly, you understand exactly how your own personal qualities fit in with all of the above. As well as how to align your skills to the overall company objectives.
“Intrepreneurs identify with their company, its products and/or its services. They have a stake in shaping its form and know how to present it to customers with confidence, pride and assurance. This translates into a more global view of the organization and customers will benefit from the personal interest of the Intrepreneur.” (Capturing the Essence of Excellence)