I interviewed the Product Manager about Intrapreneurship
Intrapreneurship in a Fintech company
Recently I have the honor to interview one of the product managers @ PayPal Innovation Lab Singapore about intrapreneurship to help in my research. What I found out from him was very interesting and insightful.
Let’s get straight into it:
1. Can you share your experience as an intrapreneur within PayPal? What inspired you to embrace an entrepreneurial mindset within the organization?
“It’s really easy to get comfortable and cruise along with day to day execution. While that will get things done, it may necessarily help to really solve a problem. It’s like busy being busy, or building for the sake of building. As a product manager, we’re like a ‘founder’ within our own small teams. And each day I could decide to be busy being busy, or take a step back and put myself in customer’s shoes and empathize what could be their pain points. What inspired me really is the friction and pain points faced by our customers on a daily basis. Take a scroll on Twitter or LinkedIn and one can really see how our customers vent their frustrations on us.”
2. What are some entrepreneurial traits that an intrapreneur must exhibit? Why are these traits useful or desired in established companies?
“The first is empathy. One must be able to feel or relate to how our customers are feeling.
The second I would say is curiosity. One must not stand still and always be curious to explore, discover, and learn new things.
And lastly I believe perseverance and courage of conviction is necessary for any intrapreneurs, especially within an organization or corporation, one will get pushed back with many reasons why one shouldn’t do things. If you’ve embodied the above 2 traits, the last is to have the courage of conviction to pursue an idea that will benefit the organization and customers.”
3. In your opinion, what are some of the key challenges faced by intrapreneurs in bringing their innovative ideas to fruition within established organizational structures and processes?
“Getting resistance or push backs from colleagues, leadership team, or peers.”
4. How do you navigate resistance or obstacles when introducing new ideas or initiatives as an intrapreneur? Can you provide an example of a situation where you faced significant challenges and how you overcame them? (if it's okay to share)
“The fundamentals of being a product manager are to always seize the opportunity or problem space, and justify business benefits if the problem is solved with new ideas or initiatives.
Once the above is done, the other key is to start small and gather support from those who believe in you or your ideas.
Last, always listen, adapt, and pivot if necessary. Ideas are just ideas. Always focus on customer frictions or pain points.”
5. From your perspective, what are the key ingredients necessary to foster a culture of corporate entrepreneurship within an established company? How can organizations encourage and support intrapreneurial initiatives?
“Realistically speaking, intrapreneurial initiatives have to be driven and initiated top down in an organization. The leadership team has to advocate for such activities in the company. They should also be the ones championing and bringing the ideas (that’s bottoms up) to reality in execution.”
6. In your experience, what are some common barriers or roadblocks that companies face when trying to establish and sustain a culture of corporate entrepreneurship? How can these challenges be addressed?
“Resources,
Business justification,
Benefits of the unknown vs existing work.”
7. As an intrapreneur, how do you approach securing resources and gaining support for your initiatives within the company? What strategies have you found effective in obtaining the necessary resources and buy-in from stakeholders?
Similar answer to (4).
8. Can you share a specific example of a successful intrapreneurial project or initiative you have been involved in? What were the key factors that contributed to its success? (if it's okay to share)
Similar answer to (4).
“Current project is still a Work-In-Progress so I wouldn’t say it’s a successful initiative yet. But the core essence is still answered in (4).”
9. In your opinion, how can companies strike a balance between encouraging intrapreneurship and managing potential risks or disruptions to existing operations?
“Companies can make some of these small bets, and cultivate a fail fast learn fast mindset.
Apply the 80/20 rule. Make 20% bets on some of the innovative ideas.
And ensure dedicated time on the 20% time spent on innovation.”
10. What role does leadership play in fostering an intrapreneurial culture within an organization? How can leaders support and empower intrapreneurs to drive innovation and change?
Similar answer to (5).
11. Based on your experience, what advice would you give to aspiring intrapreneurs or organizations seeking to cultivate a culture of intrapreneurship?
“If things or problems are the same consistently for some time, maybe it’s time to look at it from a different perspective or angle, also known as “it’s time to think outside the box”.
“A Ship in Harbor Is Safe, But That Is Not What Ships Are Built For”
If a company is content at where they are, it’s only time where their competitors will eat up their share and surpass them.”
That’s all! Hope you gathered some invaluable points from here.
Till next time,
Alvis