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Entrepreneurship Is Not A Cake Walk
To succeed, entrepreneurs must face competition, market upheavals, and the maintenance of their personal branding. It’s little wonder then that the failure rate of start-ups is so high—beginning at 20 percent in the first year and slowly creeping up every year after until peaking at a staggering 90 percent.
For many innovative-minded people, becoming an intrapreneur may not only be a responsible career path, one that still offers a sense of control, satisfaction, and ambition attainment. It may be the superior option.
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The Intrapreneur
The word intrapreneur was coined in the late 70s to describe employees who act like an entrepreneur within an established organization. Intrapreneurs develop original solutions, processes, or products. They can then sell their ideas to the higher-ups, use those innovations to motivate change, and...
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Entrepreneurs: People To Idolize
The Global Entrepreneurship Monitor found that adults across the world viewed entrepreneurship as a good career choice and an indicator of high social status. The coronavirus pandemic has since
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The Resident Idea Person
The intrapreneurial path is only accessible if organizations are willing to cultivate it. By now, the financial advantages should be obvious. By funding an intrapreneur’s product, policy, or application, the organization shares in any potential profit, and because the intrapreneur is already an e...
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The Bottom Line
Today’s employees seek prosocial, meaningful, and innovative careers with a sense of autonomy. It’s simply the popular perception that entrepreneurialism is the only place where such work can be reliably found. If organizations want to tap into this wellspring of talent, they need to provide oppo...
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Not Everyone Has It All
While many desire to become entrepreneurs, many shouldn’t. They may have innovative ideas but lack a passion for the business side. They may have strategic insight but can’t responsibly take the leap of financial faith every business owner must.
Fortunately, it’s not an all-or-nothing propo...
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