Developing successful corporate entrepreneurship initiatives is particularly important because it offers organizations a strategy for profitable growth and serves as an attractive alternative to old, acquisition-led, inorganic growth strategies. But the challenges of achieving this can be daunting, especially for those in the entrepreneurial team itself. For example, it's one thing to recognize the importance of getting people to work for your cause; it’s a different story to execute your plan when you don’t have any positional authority or financial resources behind you.

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Things For Intrapreneurs To Keep Ideas
Alive
Hello folks! We move on to our 5th
part of Intrapreneurs Week Series and
today we talk about how to ensure Intrapreneur’s business idea doesn’t get lost
amidst obstacles of the their operating environment.
Developing successful corporate entrepreneurship initiatives is particularly
important because it offers organizations a strategy for profitable growth and
serves as an attractive alternative to old, acquisition-led, inorganic growth
strategies. But the challenges of achieving this can be daunting, especially for
those in the entrepreneurial team itself. For example, it's one thing to recognize
the importance of getting people to work for your cause; it’s a different story to
execute your plan when you don’t have any positional authority or financial
resources behind you.

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Many corporate entrepreneurs have managed to thrive despite the challenges.
Let’s look into the lessons drawn from the experiences of corporate
entrepreneurs.
Focus on the present need: Don’t waste time drafting an exhaustive business
plan before going public with the business idea. Before diving into cash-flow
forecasts, validate others' interest in the idea with colleagues who could serve
as potential recruits for the team, as well as with customers who express
interest in new products or services.
Similarly, when pitching the idea to senior executives for the first time, hold off
on presenting a multi-year investment plan. Instead talk mostly about short-
term funding needs. The key question at this stage is: What is the minimum
amount of support and resources that this project needs right now in order to
reach the next level?
Align with corporate strategy: Some corporate entrepreneurs gain support
when others don't because each time they present the idea they emphasize the
new project’s alignment with company´s overall strategy.
What if the company´s strategy in a certain field is not clear or is about to
change? Then keep your ears to the ground and listen to what the senior
executives who will assess your project are saying.
Deliver performance metrics that matter: Intrapreneurs need to work on
metrics that matter most to senior executives. Some of these criteria are
expressed in numbers such as revenue growth objectives, profit margins, return
on invested capital or market share.
Apart from these corporate mantras, do embrace these instincts:
 You really need to research and understand your market before
launching.

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 Entrepreneurs need to make decisions on a snap basis or the world will
fly by.
 Embrace this idea. Intrapreneurs have to continue to adapt to changing
circumstances and to look out for and seize opportunities.
Once an idea/prototype becomes a success, Intrapreneurs will eventually
become the building blocks of a company’s executive teams and leaders.