Practical Advice for Entrepreneurs

I am interested in the psychology of entrepreneurship—how entrepreneurs think, decide to act, and feel. I recently realized that while my publications in academic journals have implications for entrepreneurs, those implications have remained relatively hidden in the text of the articles and hidden in articles published in journals largely inaccessible to those involved in the entrepreneurial process. This book is designed to bring the practical implications of my research to the forefront. I decided to take a different approach with this book and not write it for a publisher. I did this because I wanted the ideas to be freely available: (1) I wanted those interested in practical advice for entrepreneurs to be able to freely download, distribute, and use this information (I only ask that the content be properly cited), (2) I wanted to release the chapters independently and make chapters available as they are finished, and; (3) I wanted this work to be a dialogue rather than a one-way conversation—I hope readers email me feedback (positive and negative) so that I can use this information to revise the book. In producing the journal articles underpinning this book, I have had the pleasure of working with many talented and wonderful colleagues—they are cited at the end of each chapter. I hope you find some of the advice in this book useful.

Forms of capital, intra-ethnic variation and Polish entrepreneurs in Leicester

A study of ten Polish entrepreneurs operating in Leicester, UK is reported in this article. The concepts of social, cultural and economic capital are used as the lens through which to explore the way the capital they access is employed and converted into entrepreneurial activity. Ethnic entrepreneurship takes place within wider social, political and economic institutional frameworks and opportunity structures and so this is taken into account by differentiating two groups – post-war and contemporary Polish entrepreneurs. The differing origins and amounts of forms of capital they can access are shown as is how these are converted into valued outcomes. Combining the mixed embeddedness approach with a forms-of-capital analysis enables looking beyond social capital to elaborate on intra-ethnic variation in the UK’s Polish entrepreneurial community.

Changing other people’s mind : creative entrepreneurs

Creative entrepreneurs, the business executives who operate in the creative industries sector of economy, possess distinctive characteristics that influence people around them due to the nature of creative industries, their position in the society and their relations with people within their business operation. While there is a large amount of research focusing on industry development; the research on creative entrepreneurs as a group is much less, let alone their influence on people associated with them. Through exploring literatures on entrepreneurship in creative industries, leadership with particular focus on charismatic and shared leadership, cognitive psychology and the psychology of entrepreneurship, this study integrates seemingly remote notions from different disciplines and concludes that creative entrepreneurs as a special group of entrepreneurs influence other people in their operational settings. These settings are culturally stimulating and provocative. Creative entrepreneurs change people’s way of thinking through their intrinsic attributes and nature of the creative industries.

The healthy immigrant effect: Patterns and evidence from four countries

The existence of a healthy immigrant effect—where immigrants are on average healthier than the native born—is a widely cited phenomenon across a multitude of literatures including epidemiology and the social sciences. There are many competing explanations. The goals of this paper are twofold: first, to provide further evidence on the presence of the healthy immigrant effect across source and destination country using a set of consistently defined measures of health; and second, to evaluate the role of selectivity as a potential explanation for the existence of the phenomenon. Utilizing data from four major immigrant recipient countries, USA, Canada, UK, and Australia allows us to compare the health of migrants from each with the respective native born who choose not to migrate. This represents a much more appropriate counterfactual than the native born of the immigrant recipient country and yields new insights into the importance of observable selection effects. The analysis finds strong support for the healthy immigrant effect across all four destination countries and that selectivity plays an important role in the observed better health of migrants vis a vis those who stay behind in their country of origin.

Stigmatization of failed entrepreneurs : prevalence and solutions

This paper investigates why entrepreneurs experience stigma after firm failure and what can be done to reduce it. We use attribution theory as an overarching theoretical framework and hypothesize that entrepreneurs are held more accountable than employees for their unemployment after firm failure irrespective of the circumstances causing the failure. To test this hypothesis we conduct a between group, 2x2 full factorial experiment where the cause of the failure is manipulated. We find that entrepreneurs are held more accountable for firm failure irrespective of the circumstances causing the failure and that respondents who view failure as an inherent risk of firm ownership are less likely to stigmatize failed entrepreneurs.

Much ado about nothing? The surprising persistence of nascent entrepreneurs through macroeconomic crisis

We hypothesize that a major macroeconomic crisis triggers four alternative responses among nascent entrepreneurs: disengagement, delay, compensation, and adaptation. We also suggest that commitment and ambition (or “high potential”) moderate these responses. Our most important finding is the relative absence of behavioral crisis responses. However, crises may make high-tech founders become more likely to disengage, whereas the opposite holds for founders far into the process. Our study sheds light on the mechanisms behind aggregate effects of crises on the number and type of start-ups in an economy, and can guide future research on the effect of crises on nascent entrepreneurship.

Subjective reasons why immigrant patients attend the emergency department

Background Some patients visit a hospital’s emergency department (ED) for reasons other than an urgent medical condition. There is evidence that this practice may differ among patients from different backgrounds. The objective of this study was to examine the reasons why patients from a non-English speaking background (NESB) and patients with an English speaking background but not born in Australia (ESB-NBA) visit the ED, as compared to patients from English-speaking backgrounds but born in Australia (ESB-BA). Methods A cross-sectional survey was conducted at the ED of a tertiary hospital in metropolitan Brisbane, Queensland, Australia. Over a four-month period patients who were assigned an Australasian Triage Scale score of 3, 4 or 5 were surveyed. Pearson chi-square test and multivariate logistic regression analyses were performed to examine the differences between the ESB and NESB patients’ reported reasons for attending the ED. Results A total of 828 patients participated in this study. Compared to ESB-BA patients NESB patients were less likely to consider contacting a general practitioner (GP) before attending the ED (Odds Ratios (OR) 0.6 (95% Confidence Interval (CI) 0.4–0.8, p < .05) While ESB-NBA were more likely to consider contacting a GP 1.7 (1.1–2.5, p < .05). Both the NESB patients and the ESB-NBA patients were far more likely than ESB-BA patients to report that they had visited the ED either because they do not have a GP (OR 7.9, 95% CI 4.7–13.4, p < .001) and 2.2 (95% CI 1.1–4.4, p < .05) respectively and less likely to think that the ED could deal with their problem better than a GP(OR 0.5 (95% CI 0.3–0.8, p < .05) and 0.7 (0.3–0.9, p < .05) respectively. The NESB patients also thought it would take too long to make an appointment to consult a GP (OR 6.2, 95% CI 3.7–10.4, p < 0.001). Conclusions NESB patients were the least likely to consider contacting a GP before attending hospital EDs. Educational interventions may help direct NESB people to the appropriate health services and therefore reduce the burden on tertiary hospitals ED.

Disjecta: Material representations of an Indigenous and immigrant cultural legacy

This practice-led research explores family history and the on-going influence of cultural legacy on the individual and the artist. Homi Bhabha theorises that identity vacillates through society, shifting and changing form to create disjunctive historical spaces – spaces of slippage that allow for new narratives and understandings to occur. Using the notion of disjuncture that became apparent in this research, the practice outcomes seek to visualise my families' sometimes-occulted history at the intersection of euro-centric and Indigenous ideologies. Researched archival materials, government documents, interviews, collected objects and family photo-albums became primary source data for studio-based explorations. Scanners, glitch apps and photo-hacking were used to navigate through these materials, providing opportunities for photographic punctum and creating metaphors for the connections and disconnections that shape our sense of self.

Older entrepreneurs: Do they work smarter or harder?

Entrepreneurs starting their first businesses between the ages of 55 and 64 years represent the fastest growing entrepreneurship segment in America and Australia. There is sparse research on older entrepreneurs with conflicting results, particularly with respect to generational differences. Previous literature on generational differences focuses on family businesses, but characteristics of founders of family businesses are quite different than those of founders of non-family businesses. Consequently, we compare characteristics of older entrepreneurs to younger entrepreneurs as they start new ventures. Are there differences in their work styles and venture performance? This study makes a contribution to entrepreneurship literature by studying the growing phenomenon of older entrepreneurs. We make a contribution to practice by helping older entrepreneurs identify their strengths, which could lead to more successful older entrepreneurs and provide satisfying and rewarding careers to those leaving wage and salary employment to pursue self employment.

ACE Research Vignette 048: Can Policy Initiatives Boost High-Growth Entrepreneurs

This series of research vignettes is aimed at sharing current and interesting research findings from our team of international Entrepreneurship researchers. This vignette is written by Professor Erkko Autio at Imperial College (UK) with some editing by the Director of ACE, Professor Per Davidsson.

Social capital or ethnic enclave location? A multilevel explanation of immigrant business growth

The rapid increase in migration into host countries and the growth of immigrant-owned business enterprises has revitalized research on ethnic business. Does micro (individual)-level social capital, or meso (group)-level location within the ethnic enclave lead to immigrant business growth? Or do you need both? We analyze quantitative data collected from 110 Chinese restaurants in Australia, a major host country. At the micro level we find that coethnic (same ethnic group) networks are critical to the growth of an immigrant entrepreneur's business, particularly in the early years. But non-coethnic (different ethnic group) social capital only has a positive impact on business growth for immigrant businesses outside the ethnic enclave. Our findings are relevant, not only to host-country policymakers, but also for future immigrant business owners and ethnic community leaders trying to better understand how to promote healthy communities and sustainable economic growth.

Sri Lankan entrepreneurs in Australia: Chance or choice?

Purpose Ethnic entrepreneurship is, and always has been, a means of survival. However, there is limited literature on ethnic entrepreneurship in Australia and therefore, an understanding of ethnic entrepreneurs’ motivations to become self-employed. The purpose of this paper is to report the influential factors in the decision to engage in self-employment through case studies of members of Melbourne’s Sri Lankan community informed by the mixed embeddedness approach. Design/methodology/approach The mixed embeddedness approach frames the study where the authors examine the motivations for business of five Sri Lankan entrepreneurs. Narratives are used to construct individual case studies, which are then analyzed in terms of the motivations for, resources used and challenges faced on the entrepreneurial journey. Findings For these ethnic entrepreneurs, their entrepreneurial activity results from a dynamic match between local market opportunities and the specific ethnic resources available to them at the time of founding. The self-employment decision was not prompted by a lack of human capital but an inability to use that human capital in alternative means of employment at specific points in time. Moreover the authors highlight the importance of social and cultural capital as resources used to overcome challenges on the entrepreneurial journey. Originality/value In this community, entrepreneurship was not a result of a lack of human capital but how it was utilized in combination with social and cultural capitals in the given opportunity structure. The mixed embeddedness approach enables the uncovering of how ethnic network ties were used in light of the opportunities available to build entrepreneurial activity.

Barriers to and facilitators of cervical screening practice among African immigrant women from refugee and non-refugee backgrounds living in Brisbane

This thesis investigated and compared barriers and facilitators of cervical screening among African-born refugee and non-refugee women living in Brisbane. Refugee women were more likely to have limited or no knowledge about cervical cancer and the screening test and also less likely to use Pap smear services than non-refugee women. The analysis identified belief systems, lack of knowledge about cervical cancer and screening practices, and lack of culturally appropriate screening programs as major barriers. In the context of health promotion interventions, these findings will contribute to addressing major differential screening needs among African immigrant refugee and non-refugee women.

Entrepreneurs: The new global adventurers

The chapter provides guidance on how to develop an entrepreneurial mindset, begin a successful venture, and change the world for the better.

Female Entrepreneurship in Australia: Revisited

This paper is a ten-year follow-up on a study conducted in 1995 that profiled women entrepreneurs in Australia (Bennett and Dann 2000). The aim of the paper is to identify changes in demographic profile, motivation and personality traits of women entrepreneurs over the past ten years by replicating a study from1995 and reporting the results.