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Decisions, Actions, and Performance: Do Novice, Serial, and Portfolio Entrepreneurs Differ?

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  • Paul Westhead
  • Deniz Ucbasaran
  • Mike Wright

Abstract

A conceptual framework is extended to take into account differences between inexperienced novice entrepreneurs (that is, individuals with no prior private business ownership experience) and experienced serial and portfolio entrepreneurs. Some policymakers and practitioners are considering whether resources could be more effectively utilized if they were targeted toward serial and portfolio entrepreneurs, rather than in the form of additional initiatives to increase the pool of “pure” nascent entrepreneurs and novice entrepreneurs. To inform this policy debate, similarities and differences between novice, serial, and portfolio entrepreneurs are highlighted with regard to their decisions, actions, performance, and aspirations. We detected that portfolio entrepreneurs were more likely to express dimensions of entrepreneurial behavior. A case for targeted support tailored to the aspirations and needs of novice, serial, and portfolio entrepreneurs is presented.

Suggested Citation

  • Paul Westhead & Deniz Ucbasaran & Mike Wright, 2005. "Decisions, Actions, and Performance: Do Novice, Serial, and Portfolio Entrepreneurs Differ?," Journal of Small Business Management, Taylor & Francis Journals, vol. 43(4), pages 393-417, October.
    • Handle: RePEc:taf:ujbmxx:v:43:y:2005:i:4:p:393-417
    DOI: 10.1111/j.1540-627X.2005.00144.x
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    Cited by:

    1. Huatao Peng & Yuming Chang & Yang Liu, 2023. "Risk preference, prior experience, and serial entrepreneurship performance: evidence from China," Asia Pacific Business Review, Taylor & Francis Journals, vol. 29(3), pages 613-631, May.
    2. Leonelli Simona, 2024. "The Antecedents to Habitual Entrepreneurship: Exploring the Role of Entrepreneurs’ Narcissism and Educational Level," Entrepreneurship Research Journal, De Gruyter, vol. 14(3), pages 1161-1192.
    3. Setzer, Moritz, 2023. "From investor to entrepreneur – An explorative study of the entrepreneurial behaviour of investor-entrepreneurs," Junior Management Science (JUMS), Junior Management Science e. V., vol. 8(1), pages 43-67.
    4. Lim, Chulmin & Rowsell, Joe & Kim, Seongcheol, 2023. "Exploring the killer domains to create new value: A Comparative case study of Canadian and Korean telcos," 32nd European Regional ITS Conference, Madrid 2023: Realising the digital decade in the European Union – Easier said than done? 277998, International Telecommunications Society (ITS).
    5. Susan Müller & Alyssa Lara Kirst & Heiko Bergmann & Barbara Bird, 2023. "Entrepreneurs’ actions and venture success: a structured literature review and suggestions for future research," Small Business Economics, Springer, vol. 60(1), pages 199-226, January.
    6. Stefanie Weniger & Svenja Jarchow, 2023. "Between benefit and risk: how entrepreneurs evaluate corporate investors," Journal of Business Economics, Springer, vol. 93(5), pages 783-816, July.
    7. Lim, Chulmin & Rowsell, Joe & Kim, Seongcheol, 2024. "Exploring killer domains to create new value: A comparative case study of Canadian and Korean telcos," Telecommunications Policy, Elsevier, vol. 48(4).
    8. Wu, Shuai, 2023. "Impact of serial entrepreneurs on IPO valuation: Evidence from U.S. IPOs," The North American Journal of Economics and Finance, Elsevier, vol. 64(C).
    9. Rohny Saylors & Amrita Lahiri & Benjamin Warnick & Chandresh Baid, 2023. "Looking Back To Venture Forward: Exploring Idea and Identity Work in Public Failure Narratives," Entrepreneurship Theory and Practice, , vol. 47(2), pages 398-429, March.

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