What's the difference? Turns out there is a big difference. Both intrapreneurship and entrepreneurship happen in two different settings. The central difference between entrepreneurs and intrapreneurs is the setting in which they work. An intrapreneur is an inside entrepreneur, or an entrepreneur within a large firm. They use entrepreneurial skills without incurring the risks associated with those activities. The risks entrepreneurs face that intrapreneurs don't is the possibility for failure which leads to large financial burdens for the entrepreneur as opposed to the intrapreneur.
In many cases, intrapreneurs are able to work on a special project that requires innovation within their organization. Another key difference is that intrapreneurs don’t take on as much risk as entrepreneurs because they work within a company rather than leading ventures on their own.
For intrapreneurs, working within an existing framework of a company offers many advantages. One of the main benefits is that their organization is able to provide them with the resources they need. This can include human resources, a legal team, and financial oversight.
Also, intrapreneurship enables professionals to utilize funding from their existing organization. Intrapreneurs also have access to mentors. They are able to learn from supervisors and others within the company and utilize them as a valuable resource.
However, the two still have several traits common. Both require leadership, creativity, intelligence, vision, planning, and adaptability. One of the most important characteristics of successful intrapreneurs and entrepreneurs is strong leadership skills. A key part of success is being able to get others on the same page as you by motivating them to achieve a shared goal. Creative management and diverse approaches to leadership are typical among both entrepreneurs and intrapreneurs. Intelligence can mean having the right skill sets and tools to complete a project, while vision refers to recognizing trends and taking advantage of current opportunities. Both intrapreneurs and entrepreneurs are able to shift direction quickly when problems and challenges arise. This is why adaptability is important.
Intrapreneurs and entrepreneurs have similarities and differences making them both necessary to the business world today, especially one that includes more social media and online internet access than ever.
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