Intrapreneurship Vs Entrepreneurship
Preneurship is basically about innovations and creativity; coming up with ideas to implement or give out to others to implement. Invariably you can either be an Entrepreneur or an intrapreneur.
Intrapreneurship is being a –preneur (innovative and creative) within an organization, often at the managerial level. This may take years of learning and growth, given the right field to attain success.
Entrepreneurship is being a –preneur (innovative and creative) which leads to launching and running a new business. Success as entrepreneur takes a lot time; failures and learning processes before success.
Financial Success – Success is not dependent on whether you are an entrepreneur or an intrapreneur, financial success is about financial discipline, money multiplier and investments.
Job satisfaction – Not everyone is cut out to be satisfied being an entrepreneur, some are just by nature an intrapreneur; they can generate ideas, design how it will work and even manage the workings but they can’t bear the thought of bearing the risk. They still become successful managers and are well sort after by many entrepreneurs.
Self-actualization – Fulfillment is generally about doing what you love doing. Often times it is hard to find in the context of Intrapreneurship, hence few people who wants to be free to express themselves opt for entrepreneurship. That’s why the first drive for entrepreneurship is love; love for what you do, love for personal success rather than success of corporation, love for risk and finally love freedom.
Which is better Intrapreneurship or Entrepreneurship? – Not everyone can be an entrepreneur, in fact if everyone becomes an entrepreneur, we will have to go back to barter system. Some have to start (entrepreneurs) business while others have to manage (Intrapreneurs) such business. You can be success doing either so long as you are financially discipline, understand money multipliers and investments.
Rates of success – According to Neil Patel’s research, 90% of startup businesses fail; out of every 10 (ten) entrepreneurs only 1 (one) will eventually attain that level of dreamed success. While for intrapreneur the rough estimation is less than 5% will get to the managerial positions that is for every 20 (twenty) innovative and creative employees only 1 (one) will make it to level of dreamed success.
Evaluation – most people fail as either entrepreneur or intrapreneur because they do not really understand where their natural qualities put them. Many have crossed to realize they ought to have been in one and not the other. So your first question is where your natural qualities puts you.
Effects of Academics – Academic brilliance often tells us that you are better as an intrapreneur; you can interpret rules, understand processes, follow instructions, work within a confine and also have a prepped mindset of getting a high paying job. Academic disadvantaged people; drop-outs, third class, unsettled graduates etc., are by nature entrepreneurs because first of all academics have boxed them to a corner where they are probably unemployable or end up as underemployed, so they have to come up with something on their own. Also most academic disadvantaged people are not so because they are not intelligent but because they are too creative to work within a confine of theories, their learning process is not designed to be enhanced by books but by practice and real life experiences.
What do you do? – Work within your strength; whichever you decide to go for, be passionate about it, remember innovation and creativity are the words –Preneurship is the idea. You can be whatever you choose to be.