The concept of entrepreneurship usually takes on a narrative centred on small businesses seeking a boost and small business owners aiming to become success stories. While such narratives are true and inspiring, entrepreneurship is not only limited to emerging entrepreneurs working outside of the corporate world. Many large businesses employ young, innovative managers who use entrepreneurship development skills to overcome major obstacles. Such strategy brings modernized thinking to old-school ways of thinking than many corporate businesses tend to stick to. You can be an entrepreneurial success, even while working a nine-to-five job. Here’s how.
Corporate entrepreneurs are risk takers, but smart ones. As a corporate entrepreneur, you are always assessing any impending threats to existing businesses and tend to recommend changes in marketing and strategy in order to combat such threats. You are encouraging a business to adjust its direction and explore new markets or sectors without exposing the business to too many risks.
Having a corporate entrepreneur who is willing to take chances and lead by example inspires change. Such will to take the initiative inspires like-minded to people to want to share their ideas and help create new avenues for the company to travel through. This helps said accompany appeal to new demographics and make the company more appealing because it relates to customers better. Corporate entrepreneurs also encourage creativity and trust, driven by beliefs related to organizational goals, consistent feedback, analysis and re-evaluation over time.
Entrepreneurs in general think of people’s needs. Corporate entrepreneurs bring such a ‘people person’ type of approach to business, which helps them re-focus and venture into new realms. In addition to that, corporate entrepreneurs think like competitors as such competitors are often start-ups or new businesses offering similar services. In order to stay ahead of the competition, you have to think like a start-up and make your goals based on a back-to-basics approach to meet in-house directives and customer/client needs.
As a corporate entrepreneur, you care little about financial reward. It sounds strange, but your main goal is to enact a change of thinking within your workplace, building a legacy and channelling constant innovation within your employees. You are always aware of your business’ commercial dynamics and have dealt with enough corporate politics to push through with your ideas and assess risk/reward ratios with every decision. This builds trust and keeps performance levels high.
Your role as a corporate entrepreneur is profound. You help trigger an organizational shift in thinking and creating a collaborative drive towards establishing new ventures with adaptive strategic business management skills. Plus, you’re always assessing and getting feedback as the business climate changes, but maintain a roots-oriented level of thinking on how to expand your business and attract new clients. After all, every business started from somewhere, but as long as you remember why you started it, your chances of succeeding will improve, regardless of the market.
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