Intraprenerial Intrapreneurship Initiative

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INTRAPRENEURSHIPA way to capitalize on opportunities and minimize risks in the developmentof new projects through the support of an existing company.To get started, all you need is:A passionate and ambitiousintrapreneur with an innovative ideawho is supported by a mentorfrom an existing business whocan share technical, humanand financial resourcesFINANCHUMAIERINR E LAT IO NF INANCH U M AIIE RNR EL AT IO Nto help drive the projectforward and develop it into asuccessful new business!Who can be anWho can be aSomeone with an entrepreneurial spirit who hasan innovative idea that they would like to launchwith the support of a mentor from their network.An accomplished entrepreneur who wishes toensure the success of a young leader they believein, through mentorship and sharing of resources.INTRAPRENEUR?MENTOR?

ENTREPRENEUR VS INTRAPRENEURMost of you are likely familiar with the term entrepreneurship but have yetto encounter the word intrapreneurship. Let’s explore the main differences,as well as the similarities, between entrepreneurs and intrapreneurs.INDEPENDENCEINDEPENDENCEWholly independent in the creation andleadership of their entrepreneurial projectRelatively independent in the creation andleadership of their intrapreneurial projectTIME CONSTRAINTSTIME CONSTRAINTSConsiderable pressure todemonstrate success quicklyComparatively less pressure todevelop and optimize their projectRISKRISKThe entrepreneur assumesall business risksThe intrapreneur shares the riskwith the parent companyADDED VALUEADDED VALUEThe entrepreneur must demonstrateadded value to all stakeholdersThe support of a parent companyoffers guaranties to stakeholdersRESOURCESRESOURCESThe entrepreneur must find all necessaryresources to develop their projectThe intrapreneur has access to core businessresources that they can leverageDECISION MAKINGDECISION MAKINGThe entrepreneur is involvedin all relevant strategicdecision-makingSOMECOMMONTRAITS.The intrapreneur shares somedecision-making power withtheir parent companyCREATIVE &INNOVATIVEPERSEVERING& TENACIOUSDISCIPLINED, MOTIVATED,AND SELF-STARTINGINSPIRING, PASSIONATE,AND ENERGETICSource: Intrapreneurship in Enterprising Families; Business Families Foundation Winning at Intrapreneurship; Guillaume HervéAre you an intrapreneur or an entrepreneur?CLICK HERE TO FIND u-intrapreneur-or-entrepreneur

THE TYPES OF INTRAPRENEURSHIPIntrapreneurial projects can be classified as either internal or external,based on the relevance of the project to the core business of the parentcompany. Let us take a look at these types of NTRAPRENEURSHIPDefined: Projects related to the core businessof the parent company often stay internal tothe company; acting as a separate division ordepartment within the organization. These areprojects that respond to a market opportunity andadd value to the business through complementaryinnovation.Defined: Intrapreneurship can also lead toinnovation that is not related to the corebusiness of the parent company. With this, theintrapreneurial project may want to create anindependent organization and brand identity fromthe parent company, resulting in a spin-off.Internal Intrapreneurship in Action: Over 35years ago, Dr. Spencer Silver, a 3M scientist, wasmandated to develop “bigger, stronger, tougheradhesives”1 for the company. While workingtowards this goal, he uncoveredsomething interesting — anadhesive that stuck lightlyto surfaces and that had aremovability characteristic. Silversearched to find a purpose forhis invention until his coworker, Art Fry, proposedcreating a sticky bookmark.Once the “bookmark” hadbeen developed, employeeswithin 3M began using them tocommunicate with one anotheraround the office. It is only thenthat the product’s full potential was unveiled,creating what we know today as Post-It notes.This is a perfect example of internalintrapreneurship, where the company had aninnovative team who was able to identify a newopportunity within their market or industry. Theproduct they developed added true value to 3M’sbusiness but could also stand alone as a separatedepartment or division.1http://www.post-it.com/3M/en US/post-it/contact-us/about-us/External Intrapreneurship in Action: The Fabritecfamily business in Bromont, Quebec (Canada) hadbeen producing kitchen and bathroom cabinetrysince 1983. By the turn of the century, shifts inconsumer preferences regarding cabinetryresulted in their machinery (producing roundeddoors) becoming obsolete. As a result, Fabritec’sleader, Jonathan Bourgeois, decided to tryselling the machine. While doing so, he learnedthat it could be used as a ski press. Given thisand his incredible passion for skiing, he and hisfriend decided to preserve the machine, andfrom there created the company, RaccoonSkis, which today sells aroundthe world!By leveragingresources from anexisting company,Jonathan wasable to bringan impressivenew business tolife, incurringless costs andgroundworkthan if he wouldhave started onhis own!

DISCOVER YOURINTRAPRENEURIAL PROFILENot all intrapreneurs have the same strengths, find out ifyou are the Expert, the Gatherer or the Leader!THE LEADERMore than anything, you desire to act according to your own will. Initiative,boldness, and a risk-taking spirit characterize you. Making important decisionsdrives you. When an obstacle occurs, you tend to face it head on, rememberingthat challenges help form great entrepreneurs. You have a clear goal in yourmind, and nothing is going to get in your way of attaining it.THE GATHERERFor you, strength lies in numbers. In addition to your leadership skills, youknow how to recognize the talents of those around you. You tend to believethat a good team produces excellent results. Naturally, your peers rally aroundyou. Sharing success motivates you, and you are pleased when you see yourcolleagues thrive. You are a beacon that lights the path leading to success.THE EXPERTGrow. Broaden. Improve. This is what drives you. The desire to learn andchallenge yourself is in you. More than mere competence, you aspire toexcellence. Putting into practice the skills that you acquire motivates you. Youhave the desire to perfect your strengths and improve your weaknesses. Youdesire to become a leader in your field, to see your project become a greatintrapreneurial achievement. To succeed, you overcome all obstacles and meetall challenges.FIND OUT WHAT YOUR INTRAPRENEURIAL PROFILE IS TODAY!intrapreneurialinitiative.org/diagnostic

CHANNEL YOUR INNER INTRAPRENEURNow that you have identified your intrapreneurial profile, here are5 tips and tricks to channel your inner intrapreneur!create a personal SWOT ANALYSISIdentifying your personal Strengths, Weaknesses, Opportunities and Threats will help youcontextualize your characteristics based on your environment and help guide your decisions.acquire new COMPETENCIESBroadening your skill set, whether completely new or aligned with yourcurrent competencies, will help build your sense of confidence.be CURIOUSUse the 5 Whys method to get to the root of a problem. Once you getthere, you will be better equipped to address the issue at hand.develop YOUR PERSONAL BRANDBuilding your reputation is vital since it creates a sense of credibility and legitimacy.Be sure to solidify your network, share your ideas and market yourself.EAT. with others!All of us have to eat, so why not take this moment to exchange with a co‑workeror someone working in another company/industry? You will learn about newsubjects, gain valuable insights and come out grown and inspired!Want more tips on how to channel your inner intrapreneur?CHECK OUT THIS s-discover-your-inner-intrapreneur

YOUR INTRAPRENEURIAL IDEANow that you have solidified your understanding of core concepts and have gotten asense of what it means to be an intrapreneur, it is time to start mapping out your journeyand identifying the right idea to pursue! Fill out the worksheet below to get started.Map out your NETWORKIdentify people who possess valuableskills or resources you could benefit from.What are your PASSIONS?What are your INTERESTS?What are your SKILLS?What motivates you towake up in the morning?What are you most curiousand eager to learn about ?What do people tellyou you're good at?Who is your MENTOR?What are their SKILLS, AVAILABILITIES AND RESOURCES?Someone who believes in you andis willing to help open doors.Map out how you could benefit from their knowledge andhow committed they are willing to be to your project.Identify 1–3 IDEASWhat are the intrapreneurial ventures that could benefit from the skills and resource of you and your mentor?Source: Winning at Intrapreneurship; Guillaume Hervé

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Source: Intrapreneurship in Enterprising Families; Business Families Foundation Winning at Intrapreneurship; Guillaume Hervé Most of you are likely familiar with the term entrepreneurship but have yet to encounter the word intrapreneurship. Let's explore the main differences, as well as the similarities, between entrepreneurs and .