Intraprenuer or Entrepreneur, Where do you Belong?
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| courtesy: freepick |
By Ayomipo Akorede
In today’s fast-paced innovation-driven world, the lines between being an entrepreneur and an intrapreneur are increasingly blurred. Yet, understanding where you belong—whether building your own business from the ground up or innovating within an existing organization—is crucial for personal and professional success.
To set the right tone for this, we will define an entrepreneur as someone who starts and runs their own business. They take on financial risks with the hope of profit and are fully responsible for the success or failure of their venture. There are lots of entrepreneurs revolutionizing multiple industries with bold, independent moves like Elon Musk who co-founded PayPal and later launched Tesla and SpaceX in the world today. While some are doing really well, others are still trying to find their feet.
An intrapreneur, on the other side of the coin, is someone who acts like an entrepreneur within a larger organization. They are empowered to develop new ideas, innovate, and take risks without the financial responsibility typically associated with entrepreneurship. A famous example is Ken Kutaragi, often referred to as “The Father of the PlayStation,” who developed the gaming console while working at Sony. His entrepreneurial mindset helped launch a billion-dollar business unit—without ever leaving Sony and some Nigerian CEOs like Ebenezer Onyeagwu of Zenith Bank, Karl Toriola of MTN, etc. that earn in multiple millions.
It's never out of place to hear many motivational speakers encourage people to become entrepreneurs with guarantees of financial freedom in no time. What everyone must know, notwithstanding, is that everyone is not wired to be entrepreneurs and vice-versa. Knowing this simple truth either by logic or spiritual guidance in some cases, will help you channel your energy in the right direction.
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| courtesy: freepick |
Another thing that can help you know where you belong is your level of patience and risk tolerance. Entrepreneurs typically have a higher risk tolerance. They’re often comfortable with uncertainty and financial instability, especially in the early stages. This risk tolerance is balanced with their patience to build talent, funding and infrastructure from the ground up by depending on personal savings or investor funding. Intrapreneurs, by contrast, prefer innovating with a safety net—developing new ideas while relying on the stability of a salary and corporate structure.
Sometimes, entrepreneurs don't feel satisfied fulfilling another man's dreams. They often have a strong desire to control their vision and make high-level strategic decisions that can fulfil their own dreams. They thrive in uncertainty, are passionate about solving problems independently. Whereas, intrapreneurs operate within the boundaries of their employer’s goals, although they may enjoy significant freedom in how they approach innovation. They enjoy working within teams, value organizational support, and like to lead change from within.
Lately, intrapreneurship is increasingly being recognized as essential for long-term business growth. Companies like Google and 3M have reaped huge rewards by encouraging intrapreneurial behavior according to a Harvard Business Review article titled “The Rise of the Intrapreneur” by Vijay Govindarajan in 2016.
On the flip side, entrepreneurship continues to shape economies around the world. With over 33% unemployment and over 42% youth unemployment (NBS, 2021), entrepreneurship has become one of the most effective means of job creation in Nigeria. Small and Medium Enterprises (SMEs), which make up 96% of businesses in the country, are responsible for about 84% of employment (SMEDAN, 2022). Entrepreneurs have actively reshaped Nigeria's oil dependence narrative. From tech startups in Lagos to agritech ventures in Kaduna, innovation is driving economic diversification. Fintech companies like Flutterwave and Paystack have not only created jobs but attracted global investments, showcasing Nigeria as a hub of digital innovation in Africa.
Whether you're an entrepreneur or an intrapreneur, the most important thing is to align your strengths, values, and risk appetite with your chosen path. Both roles require innovation, resilience, and leadership—but the environment in which you thrive makes all the difference.
So, where do you belong? Take time to reflect. You might just be the next Dangote or the next Karl Toriola.
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