The term “intrapreneur” was born when American entrepreneur Gifford Pinchot III and his wife, Libba Pinchot, introduced the word in a white paper to describe an innovator who works for a company, fulfilling an innate entrepreneurial spirit while generating fresh ideas, products, or projects.
Global investor and quantitative analyst Toby Carrodus categorizes himself into the intrapreneur group. He operates to enhance a company while being privy to its established resources and capabilities.
“An intrapreneur is someone who acts like an entrepreneur within a company and takes responsibility for turning an idea into a profitable new source of revenue,” he says. “They essentially think like an owner.”
After coining the term “intrapreneur” with his wife, Gifford Pinchot introduced this “new way of fostering innovation” within organizations in the book “Intrapreneuring.” This book is the Rosetta Stone for understanding intrapreneurs in various businesses and situations and was a bestseller in 15 languages.
“Most employees think and act like employees and wonder why they don’t get ahead,” Carrodus says. “Thinking like an owner changes your behavior, especially in terms of generating revenues, saving costs, allocating resources and thinking long-term.”
Carrodus is affecting change in his field. He has a philosophical goal that could apply to many professional atmospheres.
“I’m consciously creating a nicer, more thoughtful environment in the trading industry, in contrast to the menacing “dog eat dog” experience which tends to prevail,” he says.
In investment management, Carrodus uses quantitative analysis methods to help companies make business and financial decisions. Like other quantitative analysts – nicknamed “quants” – he helps companies identify profitable investment opportunities and manage risk.
Toby Carrodus was born in Cairns, Australia, where as a teen, he lived with his single mother on government support. His tenacity throughout school paid off.
As a co-ed, he attended universities on multiple scholarships and graduated with a Bachelor of Economics and a B.A. in political science from the Australian National University. He also obtained a Master of Science in Economics from the Humboldt-Universität zu Berlin. His favorite classes were Portfolio Management and The Philosophy of F. A. Hayek.
“Both were groundbreaking in my later personal and professional development,” he says.
A lifelong learner, Carrodus is an autodidact who learned how to invest and trade successfully. He has read Jack Schwager’s “Market Wizards” multiple times, a book that discusses the approaches of some of the world’s top traders . But his “biggest leap” was teaching himself Python programming.
“Harnessing the power of computers in an age of such technological advancement has allowed me to ride that wave rather than being run over by it,” he says.
Even with scholarships, Carrodus graduated from university in his mid-20s with a negative net worth of $20,000. In a rags-to-riches tale, he became a multimillionaire in his early 30s.
“Intrapreneurs can do very well,” Carrodus says in an understatement. “Steve Ballmer’s net worth is a great example.”
Ballmer, former Microsoft chief executive officer and owner of the Los Angeles Clippers, is the 12th wealthiest person in the world. His net worth is $79 billion, according to Forbes’ Real Time Net Worth statement on Nov.16, 2022.
Being in the role of an intrapreneur is not for the faint of heart. While intrapreneurs get time and freedom to work on entrepreneurial pursuits, they also bear the weight of ownership.
Carrodus explains that the job requires “constantly taking risks, navigating a changing landscape, and being responsible for generating profit.”
To banish stress, Toby Carrodus lifts weights. He says, “As a quantitative analyst, I think it’s great to balance working out the mind with working out the body.”
Carrodus credits keeping a disciplined exercise routine with increasing his productivity.
“I exercise at the same time each day, Monday to Friday – no excuses,” he says. “Modern entrepreneurship has been associated with ‘hustling and grinding’ 24/7 and no days off, but this is not sustainable and also not going to foster the mental clarity needed to make sensible decisions in a pressured environment.”
Toby Carrodus says he has experienced some of his best strategies and ideas during or immediately after exercise.
Toby Carrodus likes the mantra: “Be obsessed or be average,” and he keeps the phrase prominently displayed on his home office wall. Being obsessed about your life’s mission can be tricky for many employees, but management gives the intrapreneur near-autonomy on the job. Entrepreneurial-minded people like Carrodus thrive when they can self-govern.
To understand the entrepreneur is to understand the intrapreneur, who passionately seeks answers, solves problems, and creates. Companies are savvy to seek such passionate employees and can cultivate win-win situations by rewarding such staff with equity. It is important to have “skin in the game,” says Carrodus.
Carrodus seems cheerily optimistic about exploring the many ways to get even better at his career as a quant trader. He says his mission is “reaching my potential and helping those around me reach theirs.”