What's the benefit of becoming an intrapreneur, or acting like an entrepreneur within a larger organization? originally appeared on Quora, the place to gain and share knowledge, empowering people to learn from others and better understand the world.
I will continue to maintain my position that there isn’t an organization out there that wouldn’t want its employees and leaders to make decisions as if they were the owners of the company. This entrepreneurial perspective is good for business and involves getting your employees to act like intrapreneurs, or innovative employees who work to create new opportunities within your organization in the way that an entrepreneur would.
There are many benefits associated with boosting the entrepreneurial mindset of your employees (or creating intrapreneurs) including:
* Increased profitability. When your employees function with an entrepreneurial mindset, they make decisions based on profitability and the bottom line. They won’t pitch projects or ideas just because they sound cool or interesting; they will pitch ideas because they show profit potential. Additionally, they will do what they can to bootstrap and cut costs along the way boosting your bottom line in the process.
* More innovation and creativity. Entrepreneurial employees are risk takers who like to push the envelope and find new methods to do what has already been done before. They are good at looking for ways to improve existing products and services and strive to fill unmet needs in the market. They also find innovative techniques to tweak outdated processes. Your business will continue to evolve as a result of having these entrepreneurial-minded individuals on board.
* Faster implementation of ideas. Entrepeneurs don’t kick back and wait, and neither do intrapreneurs. They want everything done yesterday, and are quick to act on their ideas. Those with an entrepreneurial mindset understand the value of being early to market, and will push to make it happen for your business, too.
* Better customer service and experience. Entrepreneurs (and intrapreneurs) look at everything through the lens of improving the customer experience. The more satisfied the customers, the happier and more loyal they will be leading to repeat purchases and longer retention for your company.
* The ability to spot opportunities. Nobody can look for and seize new opportunties like someone with an entrepreneurial mindset. These individuals are constantly scanning their environment and looking for ways to develop business and move your company forward. This is yet another reason that it pays to have intrapraneurs as a part of your team.
This question originally appeared on Quora.
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