The Dynamics of Entrepreneurial Entry and Firm Performance of First Career and Second Career Entrepreneurs as Mediated by Prior Knowledge
The Dynamics of Entrepreneurial Entry and Firm Performance of First Career and Second Career Entrepreneurs as Mediated by Prior Knowledge

Summary/Abstract: Do entrepreneurs who start their first business after a corporate career differ from those who do while in school or shortly thereafter? This study sought to examine the premise that while a person’s career evolves through stages which have distinct characteristics (Timmons and Spinelli, 2004), the patterns associated with entrepreneurial entry will be different for individuals at different stages of their careers. We examine differences between those who have not had a significant career or work experience before launching their first business (first career entrepreneurs) and those who have had significant experience working for another organization, before starting their first business (second career entrepreneurs). Theory suggests that those with previous work experience will be pushed into entrepreneurship to a greater extent than those without such work experience, will rely more upon diverse social networks, use financial institutions more for financing and use more work related information channels to help launch their businesses. Our results support some but not all of these theorized outcomes.

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