Second Stage Entrepreneurship PDF Download

Education and training for nascent entrepreneurs is available from colleges, universities, and nonprofit organizations throughout the United States. However, research suggests that the long-term effectiveness of entrepreneurship training programs is questionable. With the high rate of business failure, it is plausible to suggest that the training needs of practicing entrepreneurs are different than those of nascent entrepreneurs. The purpose of this study was to identify gaps in training as it pertains to practicing entrepreneurs who want to grow their businesses. As such, the research set out describe: 1) the mindsets of growth-minded entrepreneurs in Northeast Wisconsin; 2) the activities growth-minded entrepreneurs in Northeast Wisconsin deployed to cross the threshold from a first-stage to a second-stage level business; and 3) the pivotal relationships that propelled the Northeast Wisconsin growth-minded entrepreneur's movement from first-stage to second-stage. This three-article dissertation begins with a literature review followed by a qualitative phenomenological study of 11 entrepreneurs in Northeast Wisconsin who crossed, or where in the process of crossing, the threshold from first-stage to second-stage. Qualitative data were collected through semi-structured interviews and analyzed using multiple coding approaches including In Vivo. The third article is a descriptive study comparing current entrepreneurship education and training programs to the phenomenological study's findings. Research findings suggest that a gap exists between what is being taught and the actual training needs of practicing entrepreneurs. In order for entrepreneurs to grow and sustain their business, the gap needs to close. It can be closed by the entrepreneur hiring individuals with those skills, or by the entrepreneur personally acquiring the skills. The implications for the research are the practical advice and training for entrepreneurs, educators, trainers, and economic development organizations. The seven training topics that specifically address the necessary skills a practicing entrepreneur needs include: financials; strategic planning; system and processes development; human capital development, communication; leadership; and, strategic relationship development.