THE
MEMBER TALKS
Million-Dollar BETWEEN ENTREPRENEURS
KEN TENCER Spyder Works Inc.
In these disruptive days, no company can grow without studying the entrepreneurial successes of such firms as Amazon, Google, Virgin and Uber. But there’s another type of entrepreneur you should be studying that may be even more important to your future: the intrapreneurs in your organization.
Intrapreneurs are creative, resourceful people who champion new products and business processes within corporate structures. They are highpotential change makers who can make your companies millions by reviving tired product lines, spotting new opportunities, and helping bulky organizations become nimble and relevant again. I believe that intrapreneurs represent the rocket fuel companies need to secure their futures in a world of change. By being more aware of the needs of these internal changemakers, companies can become active innovators without trying to change their culture or spending millions on outside sources of R&D. To harness these self-motivated agents of change, however, organizations have to understand their intrapreneurs – and how they differ from traditional entrepreneurs. To begin this process, Spyder Works consulted with MultiHealth Systems (MHS), a leading publisher of scientifically validated assessments, to produce the first in-depth study of the traits of intrapreneurs. MHS’s new study, Entrepreneurial Edge, surveyed more than 400 entrepreneurs and more than 700 intrapreneurs, mainly in the United States and Canada. The results find entrepreneurs and intrapreneurs have many similarities.
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Compared to the general population, both groups rank off-the-charts (as you’d expect) in terms of risk tolerance, adaptability to change, innovation, and their ability to create and communicate a singular vision. But entrepreneurs and intrapreneurs aren’t the same. They are separate breeds, with key differences in motivation and behavior. So, companies hoping to boost their innovation quotient should understand these four key differences between entrepreneurs and intrapreneurs: • DRIVEN: MHS’s research found that both entrepreneurs and intrapreneurs are internally motivated, achievement-oriented, and eager to make things happen. But traditional entrepreneurs are more driven to action than intrapreneurs. This makes sense; entrepreneurs often commit thousands of dollars and years of their time to pushing their plans forward – while intrapreneurs are being paid for their time and investing the organization’s capital rather than their own. But this is a reminder that intrapreneurs aren’t as single-minded as entrepreneurs – which means bureaucracies must be careful not to snuff out their creativity. Intrapreneurs’ drive is a limited resource that organizations need to cherish and promote.
CONNECT | 2020 ISSUE 2
