Social media can make most people feel pressured into becoming an entrepreneur. Becoming a "boss" is the thing now. Not everyone is meant to own their own company and that's OK. You can find your calling and operate in your purpose as an entrepreneur or corporate professional. Below I explain the difference between an entrepreneur and intrapreneur and the benefits when the two work together.
Entrepreneur
“Someone who jumps off a cliff and builds a plan on the way down.”
Entrepreneurs build, create, shape and lead. They are the thinkers of new ideas and concepts for the overall company. Great entrepreneurs are innovators, game-changers, job creators and business leaders. In order to be a successful entrepreneur you must act in times of uncertainty, develop discipline and self-improvement ethos, have resiliency, vision, passion and must continuously learn and inspire. Being self-employed can be painfully challenging at times, but when you enjoy what you do it surely doesn’t feel like work.
The Pros and Cons of Entrepreneurship
Pros:
Entrepreneurs are their own boss and does not have to answer to no one.
They get to decide who, what, when, and how when running their businesses.
Entrepreneurs get to reap the benefits of success from their hard work.
They get to make their own schedules.
Cons:
Entrepreneurs are fully responsible for all of their decisions. Even the ones that may cause financial downfall.
No days off for entrepreneurs. We are either physically working 24/7 or on call.
Entrepreneurs financial income is solely based on every decision made whether it is good or bad.
"It's very important for entrepreneurs to look for people in the company who are not afraid of failures, for example, intrapreneurs. They make a business more successful by thinking like an entrepreneur - but within a company."
Intrapreneurs
Intrapreneurs are people who are passionate about their careers although they work for someone else. They are innovative, take their jobs seriously and enjoy what they do. If something effects the company, intrapreneurs take it personally and discover ways to fix the problem. They work over 40 hours a week by putting in extra hours and they think of creative ways to enhance the company’s performance. As a result, these are the type of people to receive promotions within their jobs. If you do not feel this way about the current job you are in, find your passion and apply for a position where you can utilize your gifts. Not everyone wants to own their own company, but no one said that you cannot be a boss or leader because of that.
An example of an intrapreneuer would be Veterinary Specialist Berena Bailey. She LOVES animals. She has a passion for taking care of them and as a result, works for two of the largest hospitals in New York City and has grown from being an assistant to a supervisor and then specialist. How amazing is that! She’s so good at what she does that she trains people who are above her as well. Although they cut her a check, she OWNS her position and brings great knowledge, experience, a positive attitude and great work ethic to her job.
The Pros and Cons of an Intrapreneur
Pros:
A guaranteed check.
Job stability.
Is not involved with major risk taking decisions for the company.
Cons:
The Employer can layoff an intrapreneur at any given time.
Intrapreneurs have to follow all rules and procedures of the company even if they disagree with it.
Benefits of Working Together
It’s a win-win situation when entrepreneurs and intrapreneurs work together. Entrepreneurs will profit from happy and productive employees who are passionate about their positions, and intrapreneurs will benefit from working with a company or individual who would help inspire and guide them into leadership.