Identify a sponsor. “Buy-in is critical,” insists DePaul. Few innovations will survive internal rigors and marketplace uncertainties without the ongoing support and resources of top management.
Manage execution. Accept full responsibility for all project aspects. Take only calculated, “above the waterline” risks, Wyche recommends.
Follow through. Develop an exit strategy beforehand and commit to adhering to it, regardless of the outcome. An occasional failed project can be damaging, Wyche says, and simply abandoning efforts midstream can irrevocably destroy one’s career.
Yet like Wyche, DePaul concludes that even with the potential hurdles, “intrapreneurship promises to be a best practice for both corporations and their professionals hoping to drive innovation and sustain their competitive edge in this economy, as well as in the next.”