scholarly journals An Examination of the Information Behaviour of New Entrepreneurs in the Start-Up Phase of a Business

2021 ◽  
Author(s):  
◽  
Susan Elder Leslie
Keyword(s):  
Information Needs ◽  
Business Owners ◽  
Sense Making ◽  
Small Business Owners ◽  
Structured Interviews ◽  
Information Behaviour ◽  
Start Up ◽  
New Business ◽  
First Time ◽  
A Company

<p>This research set out to examine in detail how eight first-time entrepreneurs went about finding out what they felt they needed to know during the first months of their business's operation, and in particular how they constructed their problems or questions in discourse and how they went about addressing them. Based on Brenda Dervin's Sense-Making methodology and work by Pamela McKenzie, the research involved semi-structured interviews in which participants were invited to recount specific instances of problems or questions they had experienced in their business. Data analysis involved close reading of both the interview transcripts and the researcher's notes and observations in order to draw out key themes and enable analysis of the discursive practices respondents used, particularly in privileging some information sources over others. The research found that the respondents experienced questions and problems largely relating to a small number of business issues, principally around the mechanics of setting up a company, deciding what kinds of services to provide and learning about the market environment in which they were operating. Like other studies of the information behaviour of small business owners, the research found that all of the respondents reported acting on information obtained from friends, colleagues or family. Most had consulted professional advisors, and all but one talked of using the Internet as a source of information. Only one respondent had sought assistance from an enterprise agency. The objectives of this research were twofold; to gather information about the actual behaviour of new entrepreneurs, and to test the potential usefulness of the sense-making methodology to an understanding of new business owners' information needs. Both of these objectives were largely met, with the research concluding that Sense-Making offers a valid and useful model with which to investigate the information behaviour of new entrepreneurs.</p>

scholarly journals An Examination of the Information Behaviour of New Entrepreneurs in the Start-Up Phase of a Business

2021 ◽  
Author(s):  
◽  
Susan Elder Leslie
Keyword(s):  
Information Needs ◽  
Business Owners ◽  
Sense Making ◽  
Small Business Owners ◽  
Structured Interviews ◽  
Information Behaviour ◽  
Start Up ◽  
New Business ◽  
First Time ◽  
A Company

<p>This research set out to examine in detail how eight first-time entrepreneurs went about finding out what they felt they needed to know during the first months of their business's operation, and in particular how they constructed their problems or questions in discourse and how they went about addressing them. Based on Brenda Dervin's Sense-Making methodology and work by Pamela McKenzie, the research involved semi-structured interviews in which participants were invited to recount specific instances of problems or questions they had experienced in their business. Data analysis involved close reading of both the interview transcripts and the researcher's notes and observations in order to draw out key themes and enable analysis of the discursive practices respondents used, particularly in privileging some information sources over others. The research found that the respondents experienced questions and problems largely relating to a small number of business issues, principally around the mechanics of setting up a company, deciding what kinds of services to provide and learning about the market environment in which they were operating. Like other studies of the information behaviour of small business owners, the research found that all of the respondents reported acting on information obtained from friends, colleagues or family. Most had consulted professional advisors, and all but one talked of using the Internet as a source of information. Only one respondent had sought assistance from an enterprise agency. The objectives of this research were twofold; to gather information about the actual behaviour of new entrepreneurs, and to test the potential usefulness of the sense-making methodology to an understanding of new business owners' information needs. Both of these objectives were largely met, with the research concluding that Sense-Making offers a valid and useful model with which to investigate the information behaviour of new entrepreneurs.</p>

The New Business Road Test: What Entrepreneurs and Investors Should Do Before Launching a Lean Startup, by John Mullins

2019 ◽  
Vol 1 (1) ◽  
pp. 89-92
Author(s):  
José Luis Albites Sanabria
Keyword(s):  
Road Test ◽  
Start Up ◽  
Plan B ◽  
Entrepreneurial Team ◽  
New Business ◽  
First Time ◽  
Lean Startup ◽  
Thought Leaders

John Mullins is a researcher, teacher and one of the world’s foremost thought leaders in entrepreneurship. Over the years, John has been hailed as an inspiration for entrepreneurs who have employed the models outlined in books such as Getting to Plan B or The Customer-Funded Business, in order to transform their ideas into global startup companies. Now in its 5th edition, The New Business Road Test guides the reader through the complex yet gripping process of testing a business idea. How can you be completely sure that your list of start-up ideas is good or bad? How much time or money should you invest in each of these ideas? And, for first-time entrepreneurs, should you embark upon a start-up just because you love your idea? Should you leave a stable job and focus entirely on what feels to you like a good business idea? Mullins’ book offers thoughtful readers guidance on the thorny issues associated with entrepreneurship that you yourself may be facing even as you read this introduction. In order to fully understand the theories behind the tools and advice for testing your idea, we must start by understanding Mullins’ vision of the entrepreneurial world. The book begins by defining three elements crucial to the success of a business: the market, the industry, and the entrepreneurial team.

Small Business Stories: Surviving and Thriving Amidst the Pandemic

2021 ◽  
Author(s):  
Jamie McCall ◽  
Khaliid Scott ◽  
Urmi Bhatt
Keyword(s):  
Social Capital ◽  
Small Business ◽  
Business Owners ◽  
Business Community ◽  
Small Business Owners ◽  
Structured Interviews ◽  
Entrepreneurial Spirit ◽  
Aid Programs

The COVID-19 pandemic will leave an enduring mark on North Carolina’s small business community. Using a phenomenological framework, we conducted a series of in-depth semi-structured interviews with small business owners about how they addressed the pandemic’s challenges. Four central themes emerged that illustrate the complexity and nuance of small business resiliency. Our data suggest that to survive and thrive, entrepreneurs had to: (1) be adaptable and willing to pivot, (2) have an entrepreneurial spirit, (3) leverage their social capital, and (4) have the knowledge and ability to apply for aid programs.

scholarly journals Economic Contributions and Challenges of Immigrant Entrepreneurs to Their Host Country – Case of African Immigrants in Auckland, New Zealand

2017 ◽  
Vol 6 (1) ◽  
pp. 25
Author(s):  
Olufemi Muibi Omisakin
Keyword(s):  
New Zealand ◽  
Small Business ◽  
Host Country ◽  
Sampling Technique ◽  
Business Owners ◽  
Small Business Owners ◽  
Structured Interviews ◽  
Immigrant Entrepreneurship ◽  
Immigrant Entrepreneurs ◽  
Definition Of

Entrepreneurship is an important concept in both developing and developed societies today. Although there is no consensus on the definition of entrepreneurship, it is believed to be a process of creating value by bringing together a unique package of resources to exploit entrepreneurship opportunities (Morris, 2002). This study aims to discover the economic contributions and challenges of immigrant entrepreneurs to their host country, and focuses on African small business owners in Auckland, New Zealand. Literature on immigrant entrepreneurship was reviewed, resulting in a discussion of the economic contributions of immigrant entrepreneurship as well as its challenges. Data was collected using face-to-face, semi-structured interviews, observation and field notes as the sources of inquiry. A purposive sampling technique was used to select 17 participants. All participants were African immigrant small business owners running businesses in Auckland. Thematic analysis was used to analyse the data collected (Braun & Clarke, 2006). 

scholarly journals Funding New Business Ventures: Differences In Minority And Non-Minority Family-Owned Business Access To Start-Up Capital

2011 ◽  
Vol 1 (2) ◽  
Author(s):  
Andrea Smith-Hunter ◽  
James R. Nolan
Keyword(s):  
Family Business ◽  
Credit Cards ◽  
Business Owners ◽  
Bank Loans ◽  
Extensive Survey ◽  
Start Up ◽  
New Business ◽  
Larger Sample

Access to start-up capital is important in starting any business venture. In addition, the source of that start-up capital can sometimes affect the prospects for success in the new business venture. This study examines the differences in the source of start-up funds between male minority and male non-minority family business owners. The findings indicate that male minority family business owners more often use credit cards and gifts from family as a source of start-up funds whereas the male non-minority family business owners rely more often on bank loans. The authors propose a more extensive survey of a larger sample of family business owners in order to further identify differences in source of start-up capital between male minority and male non-minority family business owners.

Startup Success Trends in Small Business Beyond Five-Years

2018 ◽  
Vol 3 (1) ◽  
pp. 1-16 ◽  
Author(s):  
Alvin Perry ◽  
Emad Rahim ◽  
Bill Davis
Keyword(s):  
Small Business ◽  
Success Factors ◽  
Early Growth ◽  
Business Development ◽  
Growth Stages ◽  
Small Business Owners ◽  
Doing Business ◽  
Start Up ◽  
Business Failures ◽  
New Business

While entrepreneurs help to drive venture growth through business development in their respective cities, approximately 50% of new business ventures fail within the first 5 years of operation. Boss concluded that over 60% of entrepreneurs and small business owners fail within the first 6 years of doing business. This article examines some of the main factors that support early growth stage entrepreneurial sustainability for small business startups. In this article, entrepreneurship success factors, failure rates and sustainability are examined through qualitative research, expanding on factors identified in previous studies and applying them to different geographical areas. The results of this study can help reduce the number of small business failures by providing actionable knowledge to entrepreneurs in the start-up and early growth stages of business development.

scholarly journals How entrepreneurs think: financial decisions for the long or short term

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jonas Debrulle ◽  
Johan Maes ◽  
Elliroma Gardiner
Keyword(s):  
Intrinsic Motivation ◽  
Business Performance ◽  
Extrinsic Motivation ◽  
Structured Interviews ◽  
Short Term ◽  
Return On Assets ◽  
Content Type ◽  
Financial Decisions ◽  
Start Up ◽  
New Business

Purpose The purpose of this paper is to suggest that different start-up motivations make entrepreneurs pursue different kinds of new business performance, which in this study are expressed in financial terms (i.e. return on assets). The authors posit that so-called extrinsic motivation urges entrepreneurs to be more short-term oriented, while their intrinsic motivation encourages a longer-term business vision. Additionally, this paper explores how intrinsic and extrinsic entrepreneurship motivations combine and produce financial dilemmas for entrepreneurs. Design/methodology/approach The analyses are based on 300 entrepreneurs across diverse industries in Belgium. Data was collected for this study through structured interviews with entrepreneurs combined with a company questionnaire. Financial data was obtained through a government database. Findings Results confirm that extrinsic entrepreneurship motivation boosts new business short-term financial performance, whereas intrinsic motivation contributes to the firm’s longer-term financial returns. This paper also shows that a mix of intrinsic and extrinsic motivations directs entrepreneurs toward different profitability levels during the organization’s survival and early-establishment phase. Originality/value Research on entrepreneurship has not yet corroborated that motivations can be personally conflicting, thereby saddling the entrepreneur with dilemmas that may manifest into different levels of business performance.

Experiential Internships: Understanding the Process of Student Learning in Small Business Internships

2012 ◽  
Vol 26 (5) ◽  
pp. 357-367 ◽  
Author(s):  
Mary E. Varghese ◽  
Loran Carleton Parker ◽  
Omolola Adedokun ◽  
Monica Shively ◽  
Wilella Burgess ◽  
...  
Keyword(s):  
Small Business ◽  
Student Learning ◽  
Cognitive Apprenticeship ◽  
Business Owners ◽  
Traditional Classroom ◽  
Small Business Owners ◽  
Highly Qualified ◽  
Entrepreneurial Skills ◽  
Start Up ◽  
Apprenticeship Model

This qualitative study examines the process of student learning in a small-business experiential internship programme that pairs highly qualified undergraduates with local small or start-up companies. The Cognitive Apprenticeship model developed by Collins et al (1991) was used to conceptualize students' reported experiences. The results revealed that the internship structure allowed students to acquire knowledge successfully from experts in the field, situate their learning in the environment of practice, and learn valuable professional and entrepreneurial skills not found in traditional classroom settings. Students reported an increase in self-efficacy and indicated that their interests in working in a small business were solidified or further enhanced. It is argued that these findings have important implications for researchers, small business owners and entrepreneurial and small business support initiatives in higher education.

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