???? Next Level Intrapreneurship

While 85% of intrapreneurship projects fail, the 15% that succeed can transform your company! ????

But it is not easy. These numbers are only achieved by programs with meticulous design and great implementation. A flawed approach can lead to a 100% failure rate, leaving you with years of frustration. So, how can you ensure your program thrives? ??

Intrapreneurship, the practice of fostering an entrepreneurial mindset within an organization, holds immense potential. When done right, it can lead to culture change, innovation, and significant returns. However, the path to successful intrapreneurship is fraught with challenges. To navigate these effectively, you need to focus on three critical aspects.

1?? Vision (WHY)

Intrapreneurship can drive cultural change, generate revenue, and everything in between. Be clear about your goals. ??

Your vision sets the tone for your intrapreneurship program. Ask yourself: Why are we doing this? What do we hope to achieve? Whether it’s to foster a more innovative culture, generate new revenue streams, or both, having a clear vision is essential. It guides your strategy and helps align the efforts of all participants. Be aware that both the cultural and financial aspects require time to grow and deliver. Changing the vision constantly is like uprooting what you have just sown. However, if you are sure about your vision and stick to it, you can expect to see steady returns after 2-3 years.

2?? Program Design (WHAT)

Define your activities very clearly. For example, who can enter the innovation process, when, and under which conditions to get what support? If your vision leans towards culture, scale it efficiently. If it leans towards return, monitor it tightly to select and support your champions effectively. ??

The Program Design is similar to a Business Model. It makes it very clear what you are actually doing and how you create value. Key questions include:

• What support and resources are available? e.g., What coaching based on which methodology do participants receive?
• Who can participate in the program? e.g., Everyone in the company or a select few?
• When can the process be started? e.g., 365 days in the year or as fixed cohorts?
• What are the criteria for success? e.g., Funding through an expert Jury or through business lines?
• How will progress be monitored and evaluated? e.g., Number of ideas entered? Funds raised? Revenue generated?

As we see, your Vision (WHY) has a huge influence here. If your focus is on cultural change, ensure broad participation and support. If your goal is financial return, establish robust monitoring and support mechanisms to identify and nurture high-potential projects.

3?? Secret Sauce (HOW)

While knowing your goals and actions is important, the real secret to success lies in the HOW. ??

Let us take a step back to get some perspective. Contributing to an intrapreneurship program is amazing as you change the path of a giant. However, it also has the potential to be draining, as you keep swimming against the current. One great tool to deal with this is to differentiate between things you accept to be tough (friction) and things you commit to improve (construction sites).

1. Friction: Challenges in the context of the program that you accept. Your goal is to deal with them as well as possible and potentially to turn them from bugs into features. e.g. integrating a new idea into an existing business line will always be challenging. Try to see this friction as a great opportunity for you to learn more about this business line and to potentially change some minds about the potential of intrapreneurship.
2. Construction Sites: Challenges in the context of the program that you want to change. Your goal is to actively work on these to enhance and optimize the program continuously. e.g. projects might take too long to go through the funnel. You can change this by enforcing deadlines and by keeping momentum high. Unlike friction, construction sites can be identified, tackled, and then solved.

While knowing something is friction gives you the strength to endure it, it is the construction sites that will make your program even better next year – they are your secret sauce! ???

The above structure is Inspired by Simon Sinek's golden circle. However, in the case of intrapreneurship, most companies are quite clear on the WHY and the WHAT. But there is a danger that the Vision has nothing to do with what is happening every day. This is why the HOW is so important. It is where the two meet. Note that friction can also be seen as traction between the aspirational vision and the daily execution of the program.

?? Conclusion

Over the years, I have had the pleasure of working with companies such as Swisscom , Implenia , POST Luxembourg , RUAG , and many more to launch, grow, pivot, and at times downscale intrapreneurship programs. In every single case, taking a good hard look at your program every six months proved incredibly valuable. It helps you to move with purpose and confidence in a clear direction, ensuring your intrapreneurship program evolves and adapts effectively.

As we move into the second half of 2024, it’s the perfect time to assess and refine your intrapreneurship initiatives. Get in touch to set up your program for success and drive your organization to the next level of innovation and impact.