Understanding Intrapreneurship

Not everyone is fortunate enough to give wings to her entrepreneurial pursuits due to lack of capital and other resources. The concept of “intrapreneurship” comes to the rescue of such individuals. Intrapreneurship is basically practicing entrepreneurship within the confines of an organization. Intrapreneurship works well for various reasons—the foremost being that unlike entrepreneurial ventures, there is no substantial risk involved. Intrapreneurs are employed by an organization for a fixed remuneration and are involved with generating new ideas and converting them into profitable ventures with financial support and other help from the organization.

Difference between Entrepreneurship and Intrapreneurship
There are certain similarities and differences between entrepreneurs and intrapreneurs. Like an entrepreneur, even an intrapreneur exhibits characteristics such as independence, conviction, vision, passion to fulfil his dreams, etc. Entrepreneurs make their own decisions, whereas…

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The Pros and Cons of Running a Small Business

Everyone knows that when it comes to business, each business and industry ultimately has its own language of sorts. The term “small business” is no different. It holds different meanings in different countries depending on each country’s criteria for classifying a business as “small.” Convenience stores, accountants, hair salons, restaurants, lawyers, small scale manufacturing: they all fall under the category of small businesses. Small businesses can, in general terms, be defined as private enterprises with limited number of employees and relatively low turnover.

Advantages of Running a Small Business
Small businesses have certain advantages to capitalize on, such as low investment, which also means low risks. As a small business owner, you are the boss and therefore accountable for the decisions you make; further, you’re not answerable to anybody. This sounds wonderful, doesn’t it? It can also be daunting and overwhelming at the best of times.

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Stand Tall or Stay Flat?

As an entrepreneur, what was the first organizational decision you made? Most likely it was accounting or something to do with internal procedures, or maybe it was something to do with the product or service you were going to be selling. If you are like most small businesses, one of the distant decisions you rarely think about when you go into business is how you’re going to structure your business as it grows—organizationally, that is.

Choosing your organizational structure is a strategic decision that involves a careful evaluation of your options, but long before this decision you need to believe that what you are creating will grow and ultimately become its own entity; therefore, it needs to have its own family tree. This article will help you with the visualization of two of these main organizational hierarchical structures.

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DIY Coaching

Life keeps throwing one challenge after the other at us, and to stay ahead and keep your focus intact you need to coach yourself to stay disciplined, set achievable goals and monitor your progress constantly. This, though, begs the one word question: How? When partnering with a life, business or personal wellness coach isn’t in your budget, there are a few things you can do for yourself that can kick start your way to achieving your desired goals and dreams.

A great place to begin is by asking yourself what goals you would like to achieve and by when. Your answers will help you in outlining your plan and formulating the steps you need take to get there. When writing down your answers, be sure to be very clear about what the end result will look like. The more specific you are, the easier putting the steps to get there in place will be. An example of one goal you might write down is, “By this time next year my client base will have increased by 50%.” This is a very clear goal: it provides a time frame in which you want to achieve it (year from now), establishes a measurable result (50%), and identifies with what you will be working (client base).

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Customer Service: What Entrepreneurs Need to Know

We’ve all heard the sayings, “A happy customer is a returning customer,” or “Word of mouth is the best form of advertisement.” Both of these philosophies or beliefs need to be taken to heart for those who are in business or looking to start their own business.

The success of any business depends on both of these ideologies. You need to make your customers happy! As important as this is for established businesses, for a new entrepreneur it is all that much more critical--and the following suggestions can help you ensure customer satisfaction and return clientele.

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Firing the Boss?

I read this biz blog on MSNBC this morning. The title certainly caught my attention and I have to agree with most of what Eve Tahmincioglu has to say. I have witnessed entrapranuers not recognizing when they have outgrown themselves in their companies. I currently consult with a company and the founder shows classic signs of not wanting to let go of the reigns. He certainly believes he is surrounding himself with the correct individuals but yet he hasn't really. They are for the most part yes men who will do his bidding and will raise their concerns but defer to him even when the topic is not his area of expertise. Frustrating to say the least.

I have this concern for myself. As I move forward with Therapy in Transition I am seeing how big this can really become. It does scare me but I believe if I keep reading stories and blogs such as these and holding the intention the right person to step into CEO position comes along that I will definitely recognize it. I just hope a part of me really is that person :)

Reading this biz blog this morning has certainly opened my eyes a little wider and my thoughts inquire how many other individuals who have started their own business in the last six months have already begun thinking about such things?

Thanks for reading. Embrace your inner wisdom.

Until next time, I am in gratitude for all you do.

Karen

Welcome

Hey ... it is the Summer Solstice today and what a great way to celebrate by starting something new and completely different. I am new to blogging and haven't really thought of myself as a blogger but this morning I was hit with the inspiration to become one. As I was sitting drinking my morning coffee while working on the website of my new company I received this, I guess the best word to describe it is inspiration. Ironically I still have not even read any other blogs to see what people are writing about and discussing but I trust my intuition that starting this blog is something which will be good for all those which are drawn to read, comment, and share.

My intention is to post four or five times a week to share my experiences of starting my own business - Therapy in Transition. Oh I grew up in a family owned business so being in business is not new and I started a non-profit organization called Sponsor a Teacher Program which ironically and surprisingly has been a long time in the making; but this organization my husband and I are starting is really about me embracing my own personal growth experience while truly allowing my passion for helping others to shine through without allowing fear to enter into the race of finding success.

I hope by sharing my experiences of starting my own business that those individuals which read my blog will enjoy it, learn something, and be willing to share it.

Embrace your inner wisdom!

Until next time, I'm in gratitude for all you do.

Karen