We develop a framework to investigate the foundations of an 'entrepreneurial mindset' -- described by scholars as the ability to sense, act, and mobilize under uncertain conditions. We focus on metacognitive processes that enable the entrepreneur to think beyond or re-organize existing knowledge...

The act of entrepreneurship typically confers 'distinctiveness'. However, in satisfying the psychological need to be distinct, entrepreneurs may at the same time foster a psychological deficit in feelings of belonging, leading to diminished psychological well-being. Investigating this potential...

Why do owner-managers delay business failure when it is financially costly to do so? In this paper we acknowledge that delaying business failure can be financially costly to the owner-manager and the more costly the delay, the more difficult the recovery. But we complement this financial...

We apply the prescriptions of the resource-based perspective to develop a model of entrepreneurial opportunity evaluation. We propose that opportunity evaluation decision policies are constructed as future-oriented, cognitive representations of 'what will be', assuming one were to exploit the...

Researchers have focused attention on the problematic effects of confirmatory search applied to opportunity evaluations, arguing that a confirmatory strategy almost always leads to poor decisions. The implicit assumption of this research is that confirmatory search cannot conclusively falsify an...

We develop a model that focuses on the individuation of opportunity beliefs. We adopt inferences from the ecology literature and integrate those with mental model theory to examine the ‘individuation’ of opportunity as the result of the interplay between industry conditions and...

Prior studies have examined the importance of economic, strategic, and human factors to decision policies of angel investors and venture capitalists. As more angels professionalize into angel funds and as markets for technologies and ideas become more competitive, it is becoming more important...

Uncertainty is central to entrepreneurship; however robust and generalizable findings that explain the conditions in which uncertainty may impede [or promote] entrepreneurial action remain elusive. We operationalize uncertainty as a multi-dimensional construct composed of state, effect, and...

<title/> Entrepreneurs often submit crude business plans to potential investors and are frequently disappointed when the investor decides that the new venture is not yet 'investment ready'. This paper examines the nature of investor readiness and the differing perceptions of investor readiness by...