{"id":11700,"date":"2022-12-15T09:49:40","date_gmt":"2022-12-15T09:49:40","guid":{"rendered":"https:\/\/www.kdanmobile.com\/blog\/?p=11700"},"modified":"2024-04-09T02:49:06","modified_gmt":"2024-04-09T02:49:06","slug":"entrepreneur-vs-intrapreneur","status":"publish","type":"post","link":"https:\/\/www.kdan.com\/blog\/entrepreneur-vs-intrapreneur","title":{"rendered":"Entrepreneur Vs Intrapreneur: Which Is More Suitable For You?"},"content":{"rendered":"\n<p>Are you looking to start your own company or join an existing one? Entrepreneurship has become an attractive career option over the last decade; the number of businesses started each year has increased from 2 million in 2000 to 6 million today in 2022.<\/p>\n\n\n\n<p>Entrepreneurship is defined as the act of <a href=\"https:\/\/venturesmarter.com\/how-to-start-an-llc\/\" target=\"_blank\" rel=\"noreferrer noopener\">starting a new venture<\/a>, usually with the aim of earning profit. An entrepreneur takes risks and makes decisions with minimal previous precedence or guidance. Thus, they will often face unique challenges and obstacles along the way.<\/p>\n\n\n\n<p>On the other hand, intrapreneurship, a term coined by management guru Peter Drucker, is defined as the ability to take initiative within an organization. This approach means employees take responsibility for creating ideas and solutions, while still working within an established company.<\/p>\n\n\n\n<p>Curious to learn more about entrepreneurship and intrapreneurship? Read on.<\/p>\n\n\n\n<!--more-->\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.kdan.com\/blog\/entrepreneur-vs-intrapreneur\/#What_is_an_Entrepreneur\" >What is an Entrepreneur?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.kdan.com\/blog\/entrepreneur-vs-intrapreneur\/#What_is_an_Intrapreneur\" >What is an Intrapreneur?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.kdan.com\/blog\/entrepreneur-vs-intrapreneur\/#Entrepreneur_vs_Intrapreneur_Whats_the_Difference\" >Entrepreneur vs. Intrapreneur: What&#8217;s the Difference?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.kdan.com\/blog\/entrepreneur-vs-intrapreneur\/#Characteristics_Mindset_of_an_Intrapreneur\" >Characteristics &amp; Mindset of an Intrapreneur<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.kdan.com\/blog\/entrepreneur-vs-intrapreneur\/#Characteristics_Mindset_of_an_Entrepreneur\" >Characteristics &amp; Mindset of an Entrepreneur<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.kdan.com\/blog\/entrepreneur-vs-intrapreneur\/#Which_Should_You_Go_for_Entrepreneurship_or_Intrapreneurship\" >Which Should You Go for? Entrepreneurship or Intrapreneurship?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.kdan.com\/blog\/entrepreneur-vs-intrapreneur\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_an_Entrepreneur\"><\/span>What is an Entrepreneur?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Entrepreneurship can take many different forms and is a word that is often tossed around. Before you decide whether entrepreneurship or intrapreneurship is right for you, it\u2019s important to understand what these terms mean. So, what exactly is the definition of entrepreneurship?&nbsp;<\/p>\n\n\n\n<p>According to <a href=\"https:\/\/www.investopedia.com\/terms\/e\/entrepreneur.asp\" target=\"_blank\" rel=\"noreferrer noopener\">Investopedia<\/a>, the definition of entrepreneurship is the process of setting up a business. Entrepreneurs, those who partake in entrepreneurship, are individuals who create new businesses. These ventures are no small feat. Entrepreneurs are responsible for all risks that may occur during the process of entrepreneurship, but they are also able to reap all the benefits for themselves.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><a href=\"https:\/\/i0.wp.com\/www.kdan.com\/blog\/wp-content\/uploads\/2022\/12\/daria-nepriakhina-entrepreneur.jpg?ssl=1\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/www.kdan.com\/blog\/wp-content\/uploads\/2022\/12\/daria-nepriakhina-entrepreneur-1024x661.jpg?resize=770%2C433&#038;ssl=1\" alt=\"What is an Entrepreneur?\" class=\"wp-image-11709\" width=\"770\" height=\"433\"\/><\/a><\/figure>\n<\/div>\n\n\n<p>Some examples of entrepreneurs and entrepreneurship include small businesses in your local community, such as single-location restaurants or stand-alone grocery stores without franchises. Other examples of entrepreneurs include Jeff Bezos, the founder of Amazon; Bill Gates, the founder of Microsoft, and Mark Zuckerberg, the founder of Meta, formerly known as Facebook. Though entrepreneurship can have its ups and downs and big risks, these successful entrepreneurs prove that there is potential for huge pay-offs!<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_an_Intrapreneur\"><\/span><strong>What is an Intrapreneur?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><a href=\"https:\/\/i0.wp.com\/www.kdan.com\/blog\/wp-content\/uploads\/2022\/12\/christina-wocintechchat-com-yhq2ymcPlZE-unsplash.jpg?ssl=1\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/www.kdan.com\/blog\/wp-content\/uploads\/2022\/12\/christina-wocintechchat-com-yhq2ymcPlZE-unsplash.jpg?resize=770%2C433&#038;ssl=1\" alt=\"What is an Intrapreneur?\" class=\"wp-image-11708\" width=\"770\" height=\"433\"\/><\/a><\/figure>\n<\/div>\n\n\n<p>Intrapreneurship is entrepreneurship within an existing organization. As intrapreneurship is becoming more and more common today, many companies now encourage employees to become innovative self-starters. The focus of intrapreneurship is to get employees to act with their leadership skills and business ideas and use company resources to come up with something to boost their place of work in a non-traditional way.&nbsp;<\/p>\n\n\n\n<p>A prime example of intrapreneurship is the creation of Frito-Lay\u2019s now-famous Flaming Hot Cheetos. In the mid-1980s, the company was experiencing a rough time, so CEO Roger Enrico announced a new initiative for all 300,000 employees to &#8220;act like an owner\u201d \u2013 essentially, encouraging intrapreneurship in the Frito-Lay organization. Richard Monta\u00f1ez, a janitor, was picking up snacks at his local store one day when he had <a href=\"https:\/\/lemonadeday.org\/blog\/business-ideas-for-kids\" target=\"_blank\" rel=\"noreferrer noopener\">a business idea<\/a>. He noticed that Frito-Lay lacked a product catering to Latinos. He decided to grab some Cheetos (before they had been dusted in the cheese flavoring), took them home, and covered them in a homemade spice mix. Afterward, he bagged them up and took them to a meeting with the CEO. The executives were beyond impressed, and Monta\u00f1ez was offered a job on the spot.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Entrepreneur_vs_Intrapreneur_Whats_the_Difference\"><\/span><strong>Entrepreneur vs. Intrapreneur: What&#8217;s the Difference?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Intrapreneurship is a relatively new concept, but it has become increasingly popular among young professionals looking to build careers for themselves outside of the traditional corporate world. In fact, according to a recent survey conducted by the National Association of Corporate Directors, almost half of millennials plan to start their own companies within five years of graduating college. This trend isn&#8217;t surprising, considering the high cost of <a href=\"https:\/\/businessandpower.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"text-decoration: underline;\">starting a business<\/span><\/a> and the low barriers to entry.&nbsp;<\/p>\n\n\n\n<p>However, many people don&#8217;t realize that the skills required to succeed in entrepreneurship aren&#8217;t necessarily the same as those needed to run a successful startup as an intrapreneur; there are many key differences in the types of risk that each can run into. In fact, most startup companies fail because founders lack the ability to balance multiple priorities and manage competing demands. To avoid making costly mistakes, it helps to understand how different types of leaders approach problems and make decisions.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Characteristics_Mindset_of_an_Intrapreneur\"><\/span><strong>Characteristics &amp; Mindset of an Intrapreneur<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Intrapreneurship is often misunderstood within organizations. Many employees believe it refers to innovation and creativity, while others think it\u2019s just about being entrepreneurial while working for a company. Still, some may think it\u2019s just about being a valuable employee. However, there is no one definition of what a successful intrapreneur is. In fact, there are many different definitions out there and each organization defines intrapreneurs differently. Some companies even use the term interchangeably with entrepreneurship.<\/p>\n\n\n\n<p>Intrapreneurs are high-performing employees who are typically assigned to explore new ways for a company or department to focus on internal innovation, improve upon current products, or stay ahead in the market. However, intrapreneurs aren\u2019t necessarily always given an assignment, and individuals with innovative ideas, like you and me, can also pitch creative thinking and new ideas to senior leaders.<\/p>\n\n\n\n<p>Innovation is a key driver of growth and success for businesses today. To succeed in the future, we must continue to embrace change and push boundaries. This approach requires us to look outside our comfort zones and consider new ways of doing things. We need to encourage everyone to become intrapreneurs.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Characteristics_Mindset_of_an_Entrepreneur\"><\/span><strong>Characteristics &amp; Mindset of an Entrepreneur<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A successful entrepreneur usually possesses several characteristics:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Curiosity: <\/strong>Keeping a curious heart is important for entrepreneurs. Just like Steve Jobs said, \u201cstay hungry, stay foolish\u201d, entrepreneurs always want to learn more, know how to do better, and ask a lot of questions.<\/li>\n\n\n\n<li><strong>Adaptability: <\/strong>Adaptability means that you are willing to make changes to your strategy or approach whenever necessary. You do this because you understand that no one knows exactly where things will go, and there is always room for improvement.<\/li>\n\n\n\n<li><strong>Willing to take risks:<\/strong> Entrepreneurship is risky. Entrepreneurs are putting themselves in an incredibly vulnerable situation when starting up a new business. They&#8217;re taking huge personal risks, such as quitting their jobs, risking losing their savings, and even gambling with their future income.<\/li>\n\n\n\n<li><strong>Persistence: <\/strong>Entrepreneurship is about being able to overcome obstacles and challenges. If you want to start a new business or break down the barriers to digitalization within an existing one, you&#8217;re probably going to face resistance. You&#8217;ll hear &#8220;that won&#8217;t work,&#8221; &#8220;it&#8217;s too expensive,&#8221; or &#8220;we&#8217;ve been doing things this way forever.&#8221; Many successful entrepreneurs never give up. Even if they fail, they learn from what went wrong and move forward. That\u2019s why <a href=\"https:\/\/www.incfile.com\/small-business-trends\/small-business-forecast\" target=\"_blank\" rel=\"noreferrer noopener\">72% of entrepreneurs<\/a> agree on the worthiness of their grind. No matter how much talent you have and no matter how unique your business idea, you also need to be capable of putting in the hard hours required to realize your potential.<\/li>\n<\/ol>\n\n\n\n<p>A common mindset for those who are interested in entrepreneurship and have entrepreneurial skills, like effective leadership skills or an innovative mind, is fear. Fear that your idea may never succeed, or you\u2019ll sink a lot of time into something that is just a dud in the end. Many may say, &#8220;I&#8217;m too scared.&#8221; However, if you have a true entrepreneurial spirit, it\u2019s much more effective to think &#8220;If I don&#8217;t try, I\u2019ll never know.&#8221;<\/p>\n\n\n\n<p>So, here are some ways to overcome your fear of failure:<\/p>\n\n\n\n<p>1. Get over yourself.<\/p>\n\n\n\n<p>2. Think big.<\/p>\n\n\n\n<p>3. Don&#8217;t compare yourself to others.<\/p>\n\n\n\n<p>4. Be willing to experiment.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Which_Should_You_Go_for_Entrepreneurship_or_Intrapreneurship\"><\/span><strong>Which Should You Go for? Entrepreneurship or Intrapreneurship?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Intrapreneurship and entrepreneurship are exciting paths to follow as a leader in your organization. However, there are major differences between the two, including the differing amounts of risk, reward, and mindset.<\/p>\n\n\n\n<p>If you&#8217;re motivated, passionate, and not afraid to take risks and challenges, then becoming an intrapreneur could be a great fit for you. An intrapreneur is someone who builds innovative products or services within the confines of an established company. They work closely with colleagues, often without much help from outside sources, to come up with a <a href=\"https:\/\/www.growthink.com\/products\/business-plan-template\" target=\"_blank\" rel=\"noreferrer noopener\">business plan<\/a> within their own company to fulfill goals and further business development.<\/p>\n\n\n\n<p>On the other hand, entrepreneurs are individuals who start their own businesses from scratch. They may build up a product prototype or minimum viable product (MVP), test it out, and see what works well and what doesn&#8217;t. Then, they iterate based on customer feedback and market demand.&nbsp;At the very early stages, they might often be involved in mundane tasks like administration, <a href=\"https:\/\/payfasto.com\/high-risk-merchant-accounts-card-processing\/\" target=\"_blank\" rel=\"noreferrer noopener\">payment processing<\/a> with the help of <a href=\"https:\/\/www.selectsoftwarereviews.com\/buyer-guide\/global-payroll-software\" target=\"_blank\" rel=\"noreferrer noopener\">global payroll<\/a> systems, or even <a href=\"https:\/\/napoleoncat.com\/blog\/social-media-moderation-tool\/\" target=\"_blank\" rel=\"noreferrer noopener\">social media moderation<\/a>.<\/p>\n\n\n\n<p>In most cases, it&#8217;s harder to become an entrepreneur than an intrapreneur. You&#8217;ll need to know how to manage money, handle investors, and think like a CEO. Essentially, you\u2019ll need to be the one making the business plan, handling all the financial risks, and setting <a href=\"https:\/\/www.jotform.com\/blog\/business-goals\/\" target=\"_blank\" rel=\"noreferrer noopener\">business goals<\/a>. You&#8217;ll also need to deal with lots of uncertainty since no one knows whether your idea will succeed or fail. However, when you have financial gains, it\u2019ll be all to your own credit and benefit.&nbsp;<\/p>\n\n\n\n<p>If you\u2019re interested in trying something new and challenging yourself, take ownership of your career path and pursue either option!<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Although entrepreneurs and intrapreneurs may have different goals and mindsets, they are similar in a few things: an innovative mindset, a self-starter mentality, and a persistent approach. They have the ability to get things done and never give up. If you want to read more about entrepreneurship, <a href=\"https:\/\/www.kdan.com\/blog\/entrepreneurs\" target=\"_blank\" rel=\"noreferrer noopener\">this article<\/a> is a great resource!&nbsp;Whether you\u2019re an entrepreneur or intrapreneur, the digital landscape is one to navigate in our modern society. <\/p>\n\n\n\n<p>Accelerate your own digital transformation for your company today by checking out new solutions and technologies for your needs. Visit our <a href=\"https:\/\/www.kdan.com\/esign-digital-transformation\" target=\"_blank\" rel=\"noreferrer noopener\">e-sign and digital transformation solution<\/a> for businesses to find out more.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Are you looking to start your own company or join an existing one? Entrepreneurship has become an attractive career option over the last decade; the number of businesses started each year has increased from 2 million in 2000 to 6 million today in 2022. Entrepreneurship is defined as the act of starting a new venture, &hellip; <a href=\"https:\/\/www.kdan.com\/blog\/entrepreneur-vs-intrapreneur\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Entrepreneur Vs Intrapreneur: Which Is More Suitable For You?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":5,"featured_media":11706,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[204],"tags":[406,856],"class_list":["post-11700","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-entrepreneur","tag-intrapreneur"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Entrepreneur Vs Intrapreneur: Which Is More Suitable For You?<\/title>\n<meta name=\"description\" content=\"Are you looking to start your own company or join an existing one? 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