Beyond achievement: Entrepreneurship as extreme experience

Minet Schindehutte, Michael Morris, Jeffrey Allen

Research output: Contribution to journalArticle

85 Scopus citations

Abstract

How do entrepreneurs experience entrepreneurship, and what are the implications? The cognitive and emotional experiences of the entrepreneur as he/she performs the tasks associated with venture creation and high growth have received limited attention from researchers. The entrepreneurial context can be characterized in terms of peaks and valleys, or periods of relatively high pressure, stress, uncertainty, and ambiguity and periods of relative stability and predictability. Three inter-related psychological variables are investigated to determine their applicability in an entrepreneurial context: peak performance, peak experience, and flow. Results are reported of a series of in-depth, structured interviews conducted with two samples of entrepreneurs. Both qualitative and quantitative evidence is provided of the relevance of all three variables to entrepreneurs, with the highest scores for each variable demonstrated by entrepreneurs in high growth ventures. A number of implications are drawn for ongoing research and entrepreneurial practice, most notably in the area of entrepreneurial motivation. The findings suggest that entrepreneurship be approached as a vehicle for optimal human experiencing.

Original languageEnglish (US)
Pages (from-to)349-368
Number of pages20
JournalSmall Business Economics
Volume27
Issue number4-5
DOIs
StatePublished - Dec 1 2006

Keywords

  • Entrepreneurship
  • Flow
  • Motivation
  • Peak experience
  • Peak performance

ASJC Scopus subject areas

  • Business, Management and Accounting(all)
  • Economics and Econometrics

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