Is It Possible to Be an Entrepreneur within a Corporate Structure?
Guest Contributed by Meg Schmitz
At some point in everyone’s career we begin to take inventory of what want in a job, what we seek for our professional growth and what brings us joy. In an ideal world, we’d all have jobs that don’t feel like work, pull a huge paycheck and allow us to achieve our goals. However, the reality is that many people, for reasons often beyond their control, leave work every day feeling unfulfilled – often, this is due to underutilizing a key skill set or feeling that potential is being left untapped.
For individuals who are drawn to entrepreneurship but don’t yet own a business, there’s a middle ground – the less-talked-about intrapreneurship. In a nutshell, intrapreneurs bring the entrepreneurial spirit to their corporate structure. This translates to freedom of thought, out-of-the-box problem solving, flexible brainstorming and long-range thinking that can be lost in the day-to-day grind. Intrapreneurs have the advantage of paycheck security and other benefits, all while being able to explore new avenues to sell a product or service in a role they already have familiarity with.
Another important component of intrapreneurship is the level of focus that intrapreneurs possess. An entrepreneur should view his or her company as a vision from starting point to end, but an intrapreneur works within the company to focus directly on a specific problem. Intrapreneurs, therefore, should have more directly applicable skills for a specific task. An intrapreneur takes risks, but those risks fall within the context of his or her job in the existing company. So, rather than focusing on the whole company, intrapreneurs hone in on the processes within it.
In this same vein, intrapreneurs are the primary forces of innovation within their companies. Like entrepreneurs, they look to provide solutions to unique, often market-driven problems. They focus on policies, technologies and applications that solve a specific problem, often resulting in productivity issues. In the same way that an entrepreneur starts a company to provide a service or product, an intrapreneur takes on a task within the company to strengthen it as a whole.
This sounds great, right? Somehow being able to balance your entrepreneurial ambitions with job security? Well, it’s not that easy – the first step is finding a company that’s open to intrapreneurs and their big ideas. When you’re looking for a job, make a point to find a corporate culture that supports your innovation, and actively interview for a culture that matches your values, goals and personality. Flexibility should be encouraged instead of suppressed, and the company should be comfortable with out-of-the-box thinking. It’s also worth considering exploring if the company has the budget – and internal capacity – to make the changes you might bring. Flexibility is key, but the space for implementation of your new ideas is what will actually allow intrapreneurs to fully realize their ideas.
What do intrapreneurs look like? They’re often independent, willingly autonomous individuals who like to thoroughly investigate every facet of a problem they’re presented with. They don’t respond well to micromanagement as they feel it stifles the experimental and creative processes. They’re free thinkers, but appreciate the overarching structure of a company that they feel aligns well with their values, goals and career direction. They’re the building blocks of their company’s executive teams and are a driving force behind innovation and forward motion.
If you see yourself in the description of an intrapreneur, you’re not alone – women make great intrapreneurs. We’re better equipped to challenge the status quo – we’ve been doing it as long as we’ve been alive! Fighting is in our blood, and we have great ideas that are well thought out and adaptable. Young women, in particular, have shown increasingly entrepreneurial ambitions, but many lack the experience or resources to pursue their own business at this time – however, entrepreneurially minded women may find that bringing a spirit of intrapreneurship to their corporate jobs gets them quite far. In fact, most businesses celebrate having women in higher-level positions, so why not harness this positive energy and look at ways to challenge the status quo further with big ideas, long-range thinking and out-of-the-box problem solving?
Meg Schmitz is an independent consultant of FranChoice based in Morton Grove, Ill. Her free services aid individuals along their path to professional independence, while developing a plan to achieve personal lifestyle goals through franchise investments. Contact Meg at MegSchmitz@FranChoice.com.
