Does the combination of the thrill of entrepreneurship and the security of a corporate job sound like the ideal match? Intrapreneurs and entrepreneurs fuel innovation, but they do so differently.
If you are not aware of the differences between entrepreneurs and intrapreneurs, let us help you.
In a nutshell, intrapreneurs operate within a company, whereas entrepreneurs start, establish, and grow their businesses. Both involve entrepreneurial thinking, finding possibilities, and determining the most effective approach to capitalize for business, but they take different forms.
Of course, there’s much more to it, which we’ll go over in detail later in this article. By the end of this article, you will know which path will be right for you.
Primary Responsibilities of Entrepreneurs
To know the right approach to suit your abilities, know the basic responsibilities for entrepreneurs:
- Starting and leading business ventures.
- Assigning tasks and responsibilities to employees.
- Forecast business changes.
- Create jobs for every department that suit business objectives.
- Identify business possibilities for expansion.
- Wealth creation and distribution.
- Ensure proper fulfilment of employee wishes.
Primary Responsibilities of Intrapreneurs
Know the basic responsibilities of intrapreneurs:
- They are in charge of an entire project as an employee of a corporate space.
- The only thing an intrapreneur needs to do is develop and groom the necessary talent and fresh ideas that could help in project completion in a jiffy.
- Even if the intrapreneur has complete control over the project, they must depend on entrepreneurs since they are not entirely self-sufficient.
- An intrapreneur does not start a new company. They are already employed by a company and have full control of their new department with major independence.
What Characteristics Do Entrepreneurs and Intrapreneurs Have in Common?
As we mentioned earlier in the content, entrepreneurs and intrapreneurs fuel innovation, but they do it differently. But, Entrepreneurs and intrapreneurs have many characteristics similar; these characteristics are common to all of them:
Entrepreneurs and intrapreneurs need solid and practical leadership abilities to turn their ideas into successful products, enterprises, or company improvements.
Adaptability is an essential part of being a successful entrepreneur or intrapreneur. The life of an entrepreneur or intrapreneur is full of hurdles and roadblocks that can threaten to derail all of your business goals and ambitions, no matter how excellent your idea is or how effective you are at managing a team. Even the most exemplary initiatives run into issues, which is why entrepreneurs and intrapreneurs must adapt.
To be a successful entrepreneur or intrapreneur, one must have a high level of emotional intelligence to motivate others to strive toward the same objective.
Your management, emotional intelligence, and leadership skills must be top-notch if you want others to buy into your strategy. In addition, if you want your ideas to succeed, you’ll need positive feedback, communication, motivation, and originality.
Should You Pursue a Career as an Entrepreneur or as an Intrapreneur?
If you decide between being an entrepreneur or an intrapreneur, keep in mind that both jobs have benefits.
Entrepreneurship may appeal to you if you are good at networking, know how to handle difficulties, and have the time to operate a business. In addition, this position should give you the freedom to build whatever product or business you want. If you want to be an entrepreneur, you must, however, have a thorough understanding of the market you want to enter.
It may be easier for you to become an intrapreneur if you have the skills that come with being an entrepreneur and desire to generate new ideas and products within the canopy of an established company. People who have ideas for improving the efficiency and performance of the firm may prove to be good intrapreneurs.
Choosing the right career path is not at all easy. The decision of whether to become an entrepreneur or an intrapreneur is dependent on personal preferences too. It can drive you crazy pretty easily. Also, when both the options are so beneficial, it is hard to choose, but you can make it a bit easier for you by one another way. And that is a personality test or personality quiz.
Many websites offer this service, helping numerous people know who they are, exactly like a person. And similarly, there is an entrepreneur personality test. So, if you are still confused about whether you should go for entrepreneurship or intrapreneurship, opting for such a test will be a wise option.