Intrapreneurship is the opportunity to exercise your entrepreneurial skills within a company or organization. It is a great way to gain corporate independence as well as increase your profile within the company and the industry. Robert Wallace, author and CEO of Bithgroup Technologies Inc. in Baltimore, shares what it takes to become a successful intrapreneur.
Understand that an intrapreneurial venture requires many of the same skills as starting your own business. Is there a need for this separate business unit? Will you be able to manage the budget and resources required for success? How will you increase value over time?
Develop a business plan. Plan for development, sustainability, and growth with provisions made for change and innovations. Wallace also suggests that as you develop your plan, consider your professional goals and how the structure of your business plan will address them.
Know the rules of engagement in your company. "Every organization has a culture, and the culture defines the rules about how success is attained," Wallace explains. How receptive is your organization to new ideas or business concepts? What have been the channels of completion for other projects? "A lot of minority professionals don't understand that it's not just about the credentials and how hard you work."
Build strategic alliances that advance you. To move any idea forward, an employee needs the advice and support of mentors and advocates, senior level executives who will advise you on how to manage the political climate.
Taken from Black Enterprise Magazine (Kingsley Kanu, Jr.)
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