‘Intrapreneurship’: How to foster entrepreneurship within your company

Successful entrepreneurs – individuals who start businesses and shoulder the risk of striking out from scratch – have important skills that are worth fostering in your company. ‘Intrapreneurship’ means developing an entrepreneurial culture within your organisation. Here are 5 tips for fostering intrapreneurship that will elevate your organisation’s success:

1. Master communication skills

In order to get everybody in your organisation thinking like an entrepreneur, invest in communication skills development. Members of staff might have powerful visions for your business but this creativity is nothing without the ability to communicate and share ideas lucidly.

2. Be careful about how much of your time you grant others

If you’re as busy as the average entrepreneur, you’ll need to be careful about how much of your time you grant to others. Spread yourself too thin and you could find that you start just barely getting through your daily ‘to do’ list.

Recognise that your time is valuable and make sure that you aren’t roped into tasks that lie far outside your own portfolio.

3. Improve your time management

Time management is a vital skill for the busy intrapreneur. Find ways to work smart and prevent burnout. Outsourcing the most time-consuming tasks (such as writing updates for and maintaining social media) is one way to make more time.

4. Delegate tasks

It’s nigh impossible to oversee every single task and play an active role in every area of business. The best entrepreneurs delegate tasks. This frees them to focus on core activities that will elevate their company’s profile.

You can outsource everything from content creation to administrative duties such as sending newsletters and maintaining databases. This will keep you free to focus on other essential projects.

5. Seek help when you need it

Even if you are reluctant to outsource certain tasks, it’s important to acknowledge and take action when you need help. Rather than let the quality of your organisation’s content take a hit, for example, get professional service providers to assist with overflow to keep your workload manageable.

Even the best entrepreneurs who are independent trailblazers need assistance from time to time.

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