If you want an innovative culture at your company, you should try incorporating intrapreneurship. Check out this awesome VentureBeat article by Greg Tseng (@gregtseng) of Tagged (we knew there was a reason we chose him to speak at GROW this year!). He shares three main benefits of intrapreneurship:
- Your company can pursue more opportunities without taking a huge risk.
- Your company can respond to competition quickly because you’ll already have a small team who is ready to launch new products and features.
- The focus on hands-on innovation will boost your company’s energy and excitement, just like the early days.
To incorporate this into your company, you need: ideas, a small team, and the ability to support the team as needed. Greg explains how he uses intrapreneurship in Tagged:
At my company, everyone is part of the larger organization; but internally, we have smaller teams dedicated to different intrapreneurial products. Projects such as our Sidewalk and Swoon apps allow brilliant minds the opportunity to experiment on smaller mobile initiatives. Ultimately, these intrapreneurs will get to experience the benefits of a startup (small team, no legacy code, etc.) without the disadvantages of having to raise money or be concerned with the administrative burdens of running a company.