Understand These 8 Specifics For Handling Intrapreneurs

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Entrepreneurs can be found everywhere. Even inside your corporation. Here are 8 ways to handle these intrapreneurs or: ways to deal with the punks.

No serious innovation strategist would argue against the need for entrepreneurial minds working on new ideas in the company. Unluckily enough, it lies in their very nature that entrepreneurs are notoriously difficult to manage.

8 Ideas On How To Deal With The Punks

#1 Identify The Most Promising Entrepreneurs

Entrepreneurs are everywhere. Even in your company. But can you name them?
Before you do anything else, make sure to install mechanisms that make it easy for creators to be discovered.

#2 We Are In This Together

Don’t treat your intrapreneurs like traditional employees. People want to work as partners to the company. Let them know they do not work for you, but together with you strive after achieving their ideas.

#3 Back To Innovation School

Entrepreneurs are made, not born. Innovation skills are some of the most essential skills of our times — and they can be learned. Accelerate your people’s ideas, like Venture Capitalists do: Provide them with tailored training and equip them with get-it-done know-how. Everyone can acquire new methods and techniques to carve out the most from promising ideas.

#4 Deep-Dive Into The Scene

Entrepreneurs can learn much from other (not so) successful entrepreneurs. There are many startup events at which your intrapreneurs can mingle with like-minded creators and catch new fire.

#5 Give Them Access To Your Network

A crucial benefit provided by venture capital accelerators to their portfolio startups is granting them access to their network of industry experts, suppliers, distributors and customers. You should do so too, they need all the support they can possibly get.

#6 Organize External Mentorship

You are biased and so is everybody else in your organization. Your intrapreneurial teams need mentors from outside the company. In the very best case those mentors also fill know-how gaps.

#7 Let Them Shine

Venture capitalists are proud to show off their portfolio teams and you should be too. Give them visibility within and outside the company to support their traction.

#8 Let Them Die

You need objective criteria to measure progress and be ready to take the plunge when important hypotheses can not be validated within reasonable time and the ideas are not adjusted accordingly. However, be aware: A (corporate) startup should not be hand-cuffed to initial business plans. It should be normal for intrapreneurs to iterate as well as to look after additional internal funding when they need it for their next stage challenges. Make sure though they are competing for budgets with other ideas or teams.

 

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