2018-05-09 12:00:35 Staying Competitive English Motivate your employees by encouraging them to become intrapreneurs. Discover what the relatively new term means, and learn about the... https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2018/04/Man-Explaining-Intrapreneurship-To-Listener.jpg https://quickbooks.intuit.com/ca/resources/staying-competitive/intrapreneurship-definition-explanation/ What is Intrapreneurship?

What is Intrapreneurship?

1 min read

Are you looking for a way to motivate current employees and possibly even reduce employee turnover? If so, you may want to start promoting intrapreneurship at your business. Intrapreneurship is a somewhat new concept. It’s a term used to describe employees of a business that have many of the attributes and qualities of a traditional entrepreneur.

A key trait of an intrapreneur is that they are willing to take more risks to try and solve a problem than a typical employee would. Since you, as a business owner, are an entrepreneur, you might find a lot of value in allowing your employees to be intrapreneurs. They aren’t quite entrepreneurs, but they definitely aren’t typical employees. This middle-of-the-road type of people may be exactly who you need for certain types of business projects since they may find creative solutions to problems and sustainable shortcuts, and be less likely to take no for an answer.

Intrapreneurs are major contributors to productivity and innovation in many companies. They are skilled problem solvers by their very nature, and once an intriguing business idea is planted in their head, they tend to keep thinking about it until they can find a way to make it a reality. Intrapreneurs are also skilled at pivoting. They aren’t afraid to change an entire business game plan if needed, and they aren’t afraid to fail either. Usually, they keep trying things out until a suitable solution to a business problem or goal arises.

You might be able to increase the success of your business by communicating to employees that it’s okay to be intrapreneurial. Let your employees know that you won’t frown upon them acting more like entrepreneurs, and you just might see a boost in productivity, new product ideas, and overall problem solving at your business.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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