Entrepreneurship and intrapreneurship both involve innovative thinking and the pursuit of new ideas, but there are some key differences between the two.
An entrepreneur is someone who starts their own business or venture, often taking on financial risk in order to pursue their vision. Entrepreneurs are typically self-employed and have complete control over their company’s direction, operations, and finances. They have a high degree of autonomy and are responsible for managing all aspects of their business, including finding investors, marketing their product or service, and managing employees.
On the other hand, an intrapreneur is an employee within a larger organization who takes on the same innovative and risk-taking mindset as an entrepreneur. Intrapreneurs work within the framework of an established company, using its resources to develop new products, processes, or services. Unlike entrepreneurs, intrapreneurs don’t have to worry about raising capital or managing all aspects of the business. Instead, they are able to focus on their area of expertise and collaborate with others in the company to bring their ideas to life.
Another key difference between entrepreneurship and intrapreneurship is the level of risk involved. While entrepreneurs take on a high degree of financial risk, intrapreneurs have the support and resources of an established company behind them, which can help to mitigate some of the risks associated with starting a new venture. Intrapreneurs also have the benefit of an existing customer base and brand recognition, which can make it easier to market and sell their product or service.
Overall, both entrepreneurship and intrapreneurship are important drivers of innovation and economic growth. Entrepreneurs take on the risks and rewards of starting their own business, while intrapreneurs use their entrepreneurial mindset to drive innovation within an established company.
My friend Jean Kalfayan explains it briefly and well in his reel