The influence of cognitive make-up on new venture success

One of the major challenges in the development of a new venture is the need for different thinking styles over time. The growing body of research on entrepreneurship has largely ignored the influence of cognition during the evolution of the new venture. In this paper, we develop a conceptual model which shows how cognitive make-up may influence the success of the new venture growth process. This line of inquiry may prove fruitful in explaining why many creative ideas and once successful ventures fail to succeed. Also, matching task demands and thinking styles should increase entrepreneurial satisfaction and the chances of firm success. This model should also aid the entrepreneur in knowing when to step aside and let others proceed with the development of the formal organization. It provides insights into team building and selection processes as organizations change and develop.
INTRODUCTION 'Entrepreneurs are typically very creative and action oriented.... When they build a new organization, they often try to avoid hierarchy. Unfortunately, if their initial vision is successful, and their [...]