This article explains practically INTRA-preneurship. These tips are the underlying factors how to create success as an Intrapreneur/ Entrepreneur.
There are thousands of entrepreneurial successes who are not public companies for but are responsible for creating jobs, revenue and opportunities. We seldom hear or read about these unsung entrepreneurs. Are these folks any less successful than their ‘mega’ counterparts? My answer is a resounding NO.
What can we learn from great companies?
Mark Twain once said, “I never let school interfere with my education” and it is noteworthy to see that people like Amadeo Giannini (Bank of America), Dave Thomas (Wendy’s) Bill Gates (Microsoft), Steve Jobs (Apple), Mark Zuckerberg (Facebook) all did not finish school and College, but created great companies.
So I challenge you to think in the future and look for what’s missing, Write it down, build a prototype and show it to 50-100 people and ask if it resonates with them. “Think Big – Start small, then Scale the opportunity”. You have to “stick out an 1/8th of an inch, remember “It’s not who you know, it’s WHO KNOW YOU”.
Build a great team of who share your passion and are proud to work with you. The test will be to get ‘repeat’ customers. Get to 1,000 users and then ‘scream that success’ from your website and all the social media you can.
A 4% cumulative growth rate will achieve 1m customers in just 3-4 years. AIRBNB began because two guys could not pay their rent, and decided to rent out 3 air mattresses on the floor of their apartment and serve breakfast.
They raised just $20,000 but were stagnant at $200 a week. The photos were ugly, so they went to NYC and took better photos going door to door. Now the revenue grew to $400 a week and Sequoia Capital infused $600,000. Subsequently they raise $7.2 million and the rest is history.
Some attributes to generate success
So can we discern and define some attributes on how to success as an Intrapreneur/ Entrepreneur from what I have described above? Well here are a few to consider, not in order of priority but all highly synergistic and dependent on the other;
- Give GREAT customer service;
- Remember what Peter Drucker said, “What is measured improves”;
- You can’t succeed unless you fail, and the more you fail the more you succeed;
- Say little and do much; get used to Ramen for a while;
- Remember if you never give-up you cannot FAIL;
- Think Big, Start small and SCALE as FAST as is feasible;
- Pick a good co-founder;
- Create a core of early adopters who LOVE your product;
- Wake up each day and express gratitude for what you have (best way to avoid becoming demoralized);
- If you don’t set and follow your SMART goals and objectives you will become distracted; Remember what Wayne Dyer said, “if you change the way you look at things, the things you look at will change”.
Focus on understanding customer needs, and never forget that the selling process involves three distinct groups; 1: The Buyer 2: the User and 3: the Influencer – and the last is where the bulk of your efforts should reside – Influence the Influencer.
- Kim, W. C. (2005). Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant. Harvard Business Review.
- Drucker, P. (2014). Innovation and entrepreneurship. Routledge.
- Peale, N. V. (2012). The power of positive thinking. Random House.
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