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Second-Career Entrepreneurs: A Multiple Case Study Analysis of Entrepreneurial Processes and Antecedent Variables

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  • David A. Baucus
  • Sherrie E. Human

Abstract

We use open-ended interviews and focus groups to construct a composite model of activities constituting the entrepreneurial process for seven retirees from a Fortune 100 corporation who started second-career businesses. Our results show that retirees’ prior employment experience modifies the nature of entrepreneurial processes used to get into business. Technology-oriented retirees followed incremental processes, using fewer steps in the process, with an indeterminate inception in the development of required skills, in starting related-lifestyle businesses. Retirees with management skills used punctuated equilibrium processes, having an abrupt beginning and requiring more steps in the process of starting unrelated-growth/investment businesses. Management-oriented retirees networked more In the entrepreneurial process than technology-oriented retirees. Technology-oriented retirees more likely viewed departure as involuntary; their entrepreneurial processes derived from starting conditions (e.g., old job or company). Retirees with management skills tended to view departure as voluntary; their entrepreneurial processes advanced toward desired end states. We identify propositions for future testing and discuss implications for corporations, retirees, and researchers.

Suggested Citation

  • David A. Baucus & Sherrie E. Human, 1995. "Second-Career Entrepreneurs: A Multiple Case Study Analysis of Entrepreneurial Processes and Antecedent Variables," Entrepreneurship Theory and Practice, , vol. 19(2), pages 41-71, January.
    • Handle: RePEc:sae:entthe:v:19:y:1995:i:2:p:41-71
    DOI: 10.1177/104225879501900204
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    References listed on IDEAS

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    Cited by:

    1. Gabriela Boldureanu & Alina Măriuca Ionescu & Ana-Maria Bercu & Maria Viorica Bedrule-Grigoruță & Daniel Boldureanu, 2020. "Entrepreneurship Education through Successful Entrepreneurial Models in Higher Education Institutions," Sustainability, MDPI, vol. 12(3), pages 1-33, February.
    2. Aurora A.C. Teixeira & Todd Davey, 2008. "Attitudes of Higher Education students to new venture creation: a preliminary approach to the Portuguese case," FEP Working Papers 298, Universidade do Porto, Faculdade de Economia do Porto.
    3. Aurora A.C. Teixeira, 2007. "Entrepreneurial potential in Business and Engineering courses … why worry now?," FEP Working Papers 256, Universidade do Porto, Faculdade de Economia do Porto.

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