Skilled Migrant Professionals December 2015 | Page 17

Business By Justin Kwok, Director at Orion Law THERE ARE FIVE CORE SKILLS THAT CAN MAKE YOU A SUCCESSFUL INTRAPRENEUR You will need to engage in your employer’s business to understand it comprehensively. In other words, understanding the purpose and strategy of the business, its services or products, its place in the market, its competitors, and its internal structures. You should also seek to expand your knowledge of the business because if you can’t look beyond your job description, you risk becoming irrelevant without even knowing it. Having a broad understanding of the business additionally enables you to identify opportunities, such as where you may be able to add value, or it may help you to identify risks before they eventuate. value to the employer changes according to market conditions and the business’ fortunes, so you need to be willing to adapt to survive. For example, the business may consider it too risky to retain your position on a permanent full-time salaried position, because the number of clients in your business area has decreased. Self-awareness would allow you to understand that your fixed salary is no longer appropriate to the business, however, it may prompt you to suggest that you continue working on a commission model instead. This therefore, reduces the employer’s fixed capital outlay, while still allowing it the opportunity to continue providing services until the market improves. You may find that by taking this course of action you become more indispensable to the business, as others in the same area become redundant. 2. Humility 5. Positivity Sometimes you will need to accept that the old way may not always be the best way, no matter how good or proud you may be at doing it. Stubborn adherence to the old way can unfortunately make you obsolete very quickly, particularly in an environment of rapid technological advancement. For example, adapting to electronic time billing systems will assist a law firm employer to reduce administrative costs and improve operational oversight. Focus on seeing the bright side in life. In poorer market conditions, the risk of redundancy can be quite high in certain industries and being an effective intrapreneur also means recognising that you can lose your job. It is important to understand, however, that if it were to occur, it would not be the end of the road, but merely a change of direction. Just as entrepreneurs will endure failed businesses from time to time, an effective intrapreneur learns to move past termination of employment and to seek new opportunities to flourish. More than ever before, entrepreneurial drive can help businesses stay relevant in the face of rapidly changing market demands, as well as provide significant benefits when applied at the employee level. Despite the apparent contradiction between the idea of entrepreneurship and being an employee, employees who adopt entrepreneurial traits add value to both that individual’s services and to the organisation in which they work. 1. Engagement 3. Continual Improvement You will need to be prepared to continually improve the quality and appropriateness of your services to the employer. Upskilling in areas you believe the business may require is the perfect way to contribute to the company’s growth and competitiveness. 4. Self-Awareness Be aware of your own market value. It is important to know that your December 2015 | www.smpmagazine.com.au 17