engleski

Evaluation process of new venture opportunity: serial entrepreneur’s perspective

Entering the world of entrepreneurship is challenging, demanding and characterized with high levels of unexpected risk. This should not be so, especially not for energetic, creative and success-oriented individuals who aim at becoming owners of several business ventures. Purpose of this paper is to ease the transition of becoming serial entrepreneurs for these kind of individuals in order to better understand in what kind of serial entrepreneur profile they fall into and what is the most appropriate process for evaluating new venture opportunity considering their current capabilities, experience and resources. Sample used in this study is comprised of four serial entrepreneurs operating in different industry contexts. The study involved a series of in-depth interviews as the basis for the qualitative research on target case studies. The evidence indicates that serial entrepreneurs use a six-step process while analyzing new venture opportunity. Process is comprised of information gathering, external and internal environment assessment, operational analysis, analysis of financial requirements, and building a fit between internal operations and demand of the customers. Moreover, key differences between serial entrepreneurs’ investment profiles arise from the amount of initial capital which serial entrepreneurs have on their hands and from their prior business experience.

new ventures ; opportunity identification ; serial entrepreneurs ; qualitative research

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