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Many small business owners are very proud and would be glad to admit that they can do their job on their own. It’s no guess as to why they would feel that way: their business is their baby after all! However, it is a huge flaw to think that the only way for your business to succeed is to go it alone.
In fact, according to Steve Strauss, leading small business expert, and board member of the World Entrepreneurship Forum, a business has even more power when it chooses to use its employees idea to accelerate it’s potential.
There is only so much one business owner can do by themself; even if one has the resources to be successful, imagine how much smoother the climb to the top is when it forms an alliance with their employees. If there is a person in your business that has the same objective as yours and is willing to help you get there with a new strategy, take advantage of it!
Here is a list of tips that Steve Strauss gives for great intrapreneurship:
It is vital to start recognizing the potential of your employees. Imagine how long they have been waiting for their entrepreneurial spirit to be released.
The equity must be shared as this gives employees a sense of value in the company.
Remember that a big part of entrepreneurship is being creative and having fun. Don’t get too bogged down in details or little mistakes.
Don’t forget to reward in financial means. They created the idea; it’s only right that they are compensated in monetary terms.
Keep in mind that you don’t have to look hard and far when looking new great ideas for your business. It’s very likely that your employees have them in abundance. Therefore, it is paramount that you encourage intrapreneurship in your business as this makes your company very unique, distinctive & loved and your employees will feel appreciated.
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