Entrepreneurial Methods

Abstract: The interest in approaches for creating new ventures has been amplified by a recent surge in practitioner-driven entrepreneurial methods. Entrepreneurship education programs in prestigious institutions as well as prominent incubators and accelerators have started adopting these methods. However, there are only few insights into how these methods relate to the practice of entrepreneurship and the implications for entrepreneurs and their organizations adhering to the various principles of these methods. A useful discussion of the interplay between entrepreneurial methods and the practice of entrepreneurship requires a better understanding of these methods and their constituents. Although the notion of entrepreneurial methods exists in different forms in the entrepreneurship literature, there is no common understanding of the notion. This thesis seeks to present a better understanding of the entrepreneurial methods that guide entrepreneurial behavior. It reviews nine entrepreneurial methods and contributes by developing a conceptual framework to explain, organize and improve entrepreneurial methods. The proposed framework is based on a scheme that includes a trio of terms: logic, model, and tactics. Logic is the overarching rationale orienting the conduct of all venture creation activities. Model consists of related courses of action for conducting the activities deemed necessary to implement the logic. Tactics refer to a collection of practices aimed at progressing specific aspects of the process, which are guided by the model and are in line with the logic. The proposed framework will allow scholars as well as practitioners to rework and refine their prescriptive guidelines, and suggest directions for future entrepreneurial methods. Further, an interview-based case study provides insights into the relation between entrepreneurial methods and entrepreneurial practice.