You’re probably wondering about the difference between Intrepreneurs and entrepreneurs, especially because they’re so similar. At the core, these two positions have no differences. Both require the same foundational skills to achieve success in a professional workplace. However, with more authority comes more responsibility. This leads to a lack of adaptability to try new ideas that may or may not work.
Technically, one is an employee and the other is an executive and business owner. Read further for more information on other technical differences.
Difference Between Intrepreneurs and Entrepreneurs
The main difference between these two is mostly about how one achieves goals and takes advantage of opportunities. Someone with ownership over an organization has much more leverage than someone that’s an employee. People in either position seek to create groundbreaking products and services and provide innovative solutions to important problems. Previously, one had to create an entirely new company to do so. These days, one can do the same while working as an employee, without requiring as much authority and responsibility.
While not all entrepreneurs are executives, many are such. This is especially true when it comes to new businesses in the startup phase because these are the people who know the company inside and out. Additionally, these people almost always have some kind of ownership, which continues after stepping down from the daily operations and moving onto something new. This gives almost total control over the comings and goings within the company. He or she usually has the final say in almost every decision.
Intrepreneurs are usually not executives, though they can be. The defining characteristic is that he or she doesn’t have much or any ownership in the organization. This makes a person in this position an employee. Their worth to the organization is based on what they can bring to the table at any given moment. Skills and relationships are highly valuable in this position. While the end goal of innovation and success is the same, an entrepreneur doesn’t always have the leverage to take advantage of opportunities. This is due to a lack of legal authority.
Since an intrepreneurs doesn’t have the responsibility of major aspects of a company, they’re allowed to try new ideas and see what works. These are like small tests such as a prototype product or a new marketing campaign for a new audience. They have more creative work time that’s not solely focused on the bottom line. This flexibility allows them to reach for opportunities that an organization wouldn’t be able to take advantage of or even know about. It’s an important aspect when just about anyone can create a new startup these days, particularly in technology.
As you can see, the differences between intrepreneurs and entrepreneurs are merely technical. Fundamentally, it comes down to one having legal ownership over a company and the other being an employee. One has control over the business and the other has influence. Either way, both are effective means for success and innovation in a business, whether that’s through its consumer products or its client services.