Serial Entrepreneurship: Differentiating Direct from Latent Re-Entrants

Looking Back To Venture Forward: Exploring Idea and Identity Work in Public Failure Narratives

Entrepreneurship Theory and Practice ◽

10.1177/10422587211057027 ◽

2021 ◽

pp. 104225872110570

Author(s):

Rohny Saylors ◽

Amrita Lahiri ◽

Benjamin Warnick ◽

Chandresh Baid

Keyword(s):

Career Paths ◽

Identity Work ◽

Business Failure ◽

Theoretical Understanding ◽

Serial Entrepreneurship ◽

New Industry ◽

Looking Back

Business failure often leads entrepreneurs to craft public narratives. Taking a performative storytelling perspective of such narratives, we investigate how entrepreneurs jointly reevaluate their ideas and identities, and how this relates to their subsequent career paths. We theorize that the stories entrepreneurs tell shape who they become, changing not only how others see them but also how they see themselves. This broadens theoretical understanding of how failed entrepreneurs navigate their transition to a diverse array of subsequent careers, including different forms of serial entrepreneurship (same industry; new industry) and exit (startup employee; established business employee; exit with reentry).

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Make Use of the Difference of Failure and Exit to Improve the Operation Efficiency

Sustainability in the Entrepreneurial Ecosystem - Practice, Progress, and Proficiency in Sustainability ◽

10.4018/978-1-7998-3495-3.ch008 ◽

2020 ◽

pp. 164-184

Author(s):

Yangyang Chen ◽

Weiwei Dong ◽

Dixuan Zhang ◽

Mingwei Jin

Keyword(s):

High Probability ◽

Business Failure ◽

Entrepreneurial Ecosystem ◽

Operation Efficiency ◽

Know How ◽

Serial Entrepreneurship ◽

Financial Condition ◽

The Difference ◽

Failure Experience ◽

Entrepreneurial Exit

As business failure is a high probability event that influences the operation efficiency of the entrepreneurial ecosystem, it is necessary to know how to manage business failure experience to promote serial entrepreneurship and improve circulation in the ecosystem. While most scholars agree that it is different between failure and exit, DeTienne suggests that exit could be a way to avoid failure and protect the passion and financial condition of entrepreneurs. Therefore, this chapter analyzes the difference of failure and exit and conducts a model to help entrepreneurs decide whether to exit and how to choose a better way to exit entrepreneurship. In the meantime, this chapter analyzes why entrepreneurial exit can improve the operation efficiency of entrepreneurial ecosystem, and also it would give some ideas about how to bound from failure and benefit from failure to do better next time. After reading this chapter, entrepreneurs have the idea that failure is controllable and exit may be a restart to do business more successfully.

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