Author: Martin Kelly, CEO INNOVO
You spend most of your life working, what do you get out of it? What do you want to get out of your work and where does it fall short the most? Besides increasing the income from your existing job, thinking like a Corporate Entrepreneur enables you to get so much more out of every other aspect of your work.
Your Own Top 5 Work Priorities
Here are 3 simple questions for you to help set these out:
Write down the top 5 things that you want to get out of your work? For example: money, colleagues, recognition, job security, stimulating work, chance to lead, teamwork, making a difference, career progression, work/life balance, success for the organisation you lead, etc.
Now you have your own top 5, rank them in order of importance to you.
Finally, for each of your top 5, score them 1-10 where 10 is where you're completely satisfied with this aspect of your work.
If you have your top 5 items all ranked 10, then read no further! If not, you can now see where to focus your attention.
Get Much More Out of Your Work: Think Like a Corporate Entrepreneur
A conventional “executive mindset” at its most basic is “I’ve been hired to execute a job, my boss sets me targets and I get paid”. Thinking like a Corporate Entrepreneur starts with prioritising your top 5 personal priorities for what you want to get out of your work. You then think about how your organisation could help you to fulfil more of these in ways which benefit the organisation as well.
As a Corporate Entrepreneur, start by thinking about all your work and how it enables you to maximise your top 5 work priorities. We can apply this thinking first to your existing job and then to completely new ways to get much more out of any work that you do.
1. Your Existing Organisation
Look at your own priorities from the perspectives of your boss and then your organisation. If you don’t know the objectives of your boss and your organisation, find out – they’re not always the same!
Now you better understand their objectives, think of ways that you achieving your own top 5 priorities actually meets their objectives as well. Suggest the changes you want in your work - you would be surprised how often this can lead to early win-wins for you and them. All too often, they didn’t know and you didn’t ask!
After quick early wins, you can turn your attention to the areas where your top 5 priorities are counter to their objectives. For example, paying you more or allowing you to spend less time at work to benefit your work/life balance. It is vitally important you try to understand your priorities from the perspectives of your boss and your organisation. Achieving your priorities like these with your boss and organisation is likely to involve new ways of achieving a win-win for you and them.
2. Completely New Ways to Get Much More Out of Your Work
Thinking as a Corporate Entrepreneur means finding completely new commercial benefits that you can bring to your organisation which justify paying you more or allowing you to spend less time at work. It’s easier to reach agreement with your organisation about additional compensation or more flexible working hours if these benefits are completely new to the organisation. This is now easier than it sounds. For example, we’ve just launched a platform, INNOVO Innovation, which can continuously draw innovations from millions of sources and screen them to find the few commercially proven ones relevant to your industry. The platform is free to use and is self-financed from the value that it unlocks.
Thinking as a Corporate Entrepreneur, you ask your organisation:
“If I kept finding innovations and new ways of doing things, would the organisation give me a bonus sharing the value that these innovations add?”
This is an excellent example of where it is now in your organisation’s interests to increase your compensation or offer more flexible hours. You can use INNOVO from home.
You could also adapt this ongoing flow of innovations from INNOVO to your organisation to meet your other top 5 work priorities. For example, asking to be involved in a team that deployed these innovations inside the organisation. This is exciting and stimulating work and enhance your career progression. Over 10% of INNOVO’s income goes to good causes, so working on this makes a difference if this is also one of your priorities.
Continuously finding innovations and new technologies is increasingly vital to all organisations, so your organisation should react positively to your request. However, some organisations may respond initially with reasons that why they can’t reward you for spending some of your time at work continuously finding new innovations. Here are some of their reasons and some of the answers you can give thinking as a Corporate Entrepreneur:
Organisation’s Objection to Your Remuneration Request:
“We can’t pay you more than your colleagues doing the same job because of our existing pay structures.”
Thinking as a Corporate Entrepreneur, you could respond:
“Let’s set up an innovations team and I’ll book some of my time to this. Team members earn a share of the value that they add from the innovations that they find and deploy.”
If you work for a particularly big organisation, then your response could be even more compelling:
“There is an opportunity for the self-financed deployment of large-scale flows of innovations and new technologies through a joint venture with INNOVO. Our organisation could then access the vast amounts of capital and the latest technologies such as artificial intelligence and ‘big data’ that are currently found at the Tech giants. Sponsoring me on INNOVO’s Corporate Entrepreneur Programme is the first step towards attracting and rewarding the best global talent, people like me who think like a Corporate Entrepreneur!”
Thinking like a Corporate Entrepreneur can quickly enable you to get much more out of your work while benefiting your organisation. Actually joining our Corporate Entrepreneur Programme can take you on a path to being part of an INNOVO joint venture with a major organisation where you can earn an uncapped share of the value you create with the best global talent deploying large-scale flows of innovations and the latest technologies.