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Entrepreneurs. Starting and managing a small business.
Pages 10 (2510 words)
Student’s Name Course Title Name of Professor Date of Submission Serial Entrepreneurs: A Unique Breed of Entrepreneurs Introduction A usual subject matter in the field of entrepreneurship has been the two major kinds of entrepreneurs—the ‘opportunist’ and the ‘craftsman.’ The ‘opportunist’ is driven by a desire for profit and the challenge of building a profitable, successful company, whereas the ‘craftsman’ is driven by a need for independence.
This paper focuses on the philosophy, motivation, and mindset of serial entrepreneurs that differentiate them from regular working class citizens. Serial entrepreneurs, also known as habitual entrepreneurs, were already present since the advent of industrialisation. Starr and Bygrave (1991) emphasised that a widely recognised definition of serial entrepreneurship is absent, even until now. The most widespread definition claims that serial entrepreneurs are “those entrepreneurs who have sold or closed their original businesses but at a later date have inherited, established, and/or purchased other businesses” (Welsch 239). Or, basically speaking, “they own one business after another but effectively own only business at a time” (Welsch 239-240). These entrepreneurs usually want to abandon an original enterprise when entrepreneurial prospects are believed to have been worn out. Once they abandon the venture, they look for new entrepreneurial prospects. Serial entrepreneurs start quite a few ventures, some of which thrive and others fail. ...
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