Ireland has had its fair share of startup success stories in the last few years from Stripe to Storyful – 14,000 startups were established here since 2008. That’s a lot of ideas! If you’re the office innovator, the go to problem solver, does that mean you should take the leap into startups and become an entrepreneur? Even if the idea of financial risk and instability doesn’t appeal to you?
Not necessarily. Starting up your own company is not the only option. Those great ideas? You can put them to use and enhance your career at the same time. The ‘intrapreneur’ is a relatively recent concept in the business world. Unlike the entrepreneur, they are not focused on the entire company, but instead look to solve problems and innovate areas within it.
Here are 3 reasons being an intrapreneur can be a better career move:
Intrapreneurs have an enviable skillset
Intrapreneurs have an aptitude for creative problem solving, but this is not the only skill that sets them apart in an organisation. Pitching, budgeting, marketing, coding or design are just some of the skills you can add to your portfolio.
Developing an idea for a company requires establishing a business plan and pitching it with precision. At DreamWorks, they teach their employees how to formulate their pitch and allow them to practice in front of executives. This is a much sought-after skill, and using your passion projects is a great way to practice.
Often an idea will require collaboration across departments, especially if an element is outside your area of expertise. Proposing an innovative business idea might also require you to lead a team. All of this while holding down your day job. Whether it’s a success or not, you will have learned invaluable lessons and skillsets along the way, while also making yourself stand out.
On that note…
Intrapreneurs are organisational superstars
Intrapreneurs keep up to date with external changes and flag improvements before competitors can take action. They are the forward thinkers that have a positive impact on the company as well as the bottom line.
By being the innovator, the problem solver and the thought leader, you set yourself apart. Intrapreneurial companies outperform non-intrapreneurial companies in critical areas like profitability, market share and sales growth. This is why companies are actively embracing the intrapreneurs within their organisation. Showcasing your abilities in this way demonstrates how valuable you are to your employer.
Intrapreneurs are happier in their careers
As an intrapreneur you can re-frame your job description to include the work that excites you – work that provides meaning and fulfilment to your 9-5. As an intrapreneur you are still part of the company and can align your interests, time and skills to the growth of the company. Meaning you not only help to create success, you also get to share in the satisfaction it generates. This symbiotic relationship can go a long way to increasing your workplace happiness.
It’s a great time for innovation and the marketplace is awash with disruptive ideas. But if setting up a new business from scratch doesn’t appeal to you, intrapreneurship is a fantastic way to create opportunities within your current job without having to leave. You can create the work you want to do while also doing the work you have to do.