Family Business

Three Tips for Intrapreneurs Wanting to Innovate Within Their Family Business


2 min




Jorge Arteaga


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Well first you have to identify which opportunities there are in the market. Normally you have a business running in the family but you are trying to see what another branch of your business family you can develop. First you have to convince your family and tell them this a project that could grow and it could be even a bigger business than the other one, that´s something you´ll have to do. But then not only to convince them but also convince some other people to know that your new project and product will be validated and it will be valuable. So that´s one thing. The other thing is that you always have to get closer to people that know more than you; since you are an intrapreneur you think you can eat the world, you can do whatever you want. Intrapreneurs we are very passionate of what we do ... View More and we believe everything can be done. And that´s not so true; I mean it can be done but things are not going to go, things are going to be different, things are going to be challenging and you have to have somebody that gives you guidance in this process, so make sure you have the right people. It could be your family, it could be somebody else, it could some other organizations like endeavour or something else but make sure you have somebody that´s giving you advice, it´s giving you mentoring in order to take the right decision in the right time and then after that, I think it´s the most important, you have to believe in your project; innovation doesn´t always come from reinventing the light or discovering very very new. It can come in that way but it can also come in something in something different; a pearl that has already been existing for a lot of years and you made some different adjusting on new ingredients and people are willing to pay for that, they know that it´s an advantage a new product and they are willing to pay for it. So, you have to always remember that if you don´t trust in your product, if you don´t believe in your company nobody else will so you have to believe.