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Do balanced skills help nascent entrepreneurs to make progress in the venture creation process?

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  • Stuetzer, Michael
  • Goethner, Maximilian
  • Cantner, Uwe

Abstract

We analyze longitudinal data on innovative start-up projects and apply Lazear’s jack-of-all-trades theory to investigate the effect of nascent entrepreneurs’ balanced skills on their progress in the venture creation process. Our results suggest that those nascent entrepreneurs who exhibit a sufficiently broad set of skills undertake more gestation activities towards an operational new venture. This supports the notion that a balanced skill set is an important determinant of entrepreneurial market entry.

Suggested Citation

  • Stuetzer, Michael & Goethner, Maximilian & Cantner, Uwe, 2012. "Do balanced skills help nascent entrepreneurs to make progress in the venture creation process?," Economics Letters, Elsevier, vol. 117(1), pages 186-188.
    • Handle: RePEc:eee:ecolet:v:117:y:2012:i:1:p:186-188
    DOI: 10.1016/j.econlet.2012.05.002
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    1. Michael Stuetzer & Martin Obschonka & Eva Schmitt-Rodermund, 2013. "Balanced skills among nascent entrepreneurs," Small Business Economics, Springer, vol. 41(1), pages 93-114, June.
    2. Joachim Wagner, 2006. "Are nascent entrepreneurs 'Jacks-of-all-trades'? A test of Lazear's theory of entrepreneurship with German data," Applied Economics, Taylor & Francis Journals, vol. 38(20), pages 2415-2419.
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    5. Silva, Olmo, 2007. "The Jack-of-All-Trades entrepreneur: Innate talent or acquired skill?," Economics Letters, Elsevier, vol. 97(2), pages 118-123, November.
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    7. Davidsson, Per & Honig, Benson, 2003. "The role of social and human capital among nascent entrepreneurs," Journal of Business Venturing, Elsevier, vol. 18(3), pages 301-331, May.
    8. Mikael Samuelsson & Per Davidsson, 2009. "Does venture opportunity variation matter? Investigating systematic process differences between innovative and imitative new ventures," Small Business Economics, Springer, vol. 33(2), pages 229-255, August.
    9. Audretsch, David B. & Keilbach, Max C. & Lehmann, Erik E., 2006. "Entrepreneurship and Economic Growth," OUP Catalogue, Oxford University Press, number 9780195183511.
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    Cited by:

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    2. Xi, Guoqian & Block, Jörn & Lasch, Frank & Robert, Frank & Thurik, Roy, 2016. "Work Experience from Paid Employment and the Path to Entrepreneurship: Business Takeover versus New Venture Start-Up," IZA Discussion Papers 9949, Institute of Labor Economics (IZA).
    3. Konon, Alexander & Kritikos, Alexander S., 2017. "Media and Occupational Choice," IZA Discussion Papers 11015, Institute of Labor Economics (IZA).
    4. Krieger, Alexander & Block, Joern & Stuetzer, Michael, 2018. "Skill variety in entrepreneurship: A literature review and research directions," MPRA Paper 88389, University Library of Munich, Germany.
    5. Daniel Ratzinger & Kevin Amess & Andrew Greenman & Simon Mosey, 2018. "The impact of digital start-up founders’ higher education on reaching equity investment milestones," The Journal of Technology Transfer, Springer, vol. 43(3), pages 760-778, June.
    6. David B. Audretsch & Donald F. Kuratko & Albert N. Link, 2016. "Dynamic entrepreneurship and technology-based innovation," Journal of Evolutionary Economics, Springer, vol. 26(3), pages 603-620, July.
    7. Jolanda Hessels & U. Brixy & Wim Naudé & Thomas Gries, 2014. "Skill Variety, Innovation and New Business Formation," Scales Research Reports H201013, EIM Business and Policy Research.
    8. Li-Wei Chen & Peter Thompson, 2016. "Skill Balance and Entrepreneurship Evidence from Online Career Histories," Entrepreneurship Theory and Practice, , vol. 40(2), pages 289-305, March.
    9. Shahid, Pirzada Syed Rizwan, 2023. "Founder's Human Capital and the Entrepreneurial Process Duration," OSF Preprints yf6mg, Center for Open Science.
    10. Bellido, Héctor, 2020. "Análisis internacional de las decisiones emprendedoras: aspectos económicos, emocionales, saludables y familiares [International analysis of entrepreneurial decisions: economic, emotional, healthy ," MPRA Paper 104487, University Library of Munich, Germany.
    11. Michael Fritsch & Ronney Aamoucke, 2017. "Fields of knowledge in higher education institutions, and innovative start-ups: An empirical investigation," Papers in Regional Science, Wiley Blackwell, vol. 96, pages 1-27, March.
    12. Jose Ignacio Gimenez-Nadal & Miguel Lafuente & Jose Alberto Molina & Jorge Velilla, 2019. "Resampling and bootstrap algorithms to assess the relevance of variables: applications to cross section entrepreneurship data," Empirical Economics, Springer, vol. 56(1), pages 233-267, January.
    13. Stefan Hossinger & Jörn Block & Xiangyu Chen & Arndt Werner, 2023. "Venture creation patterns in academic entrepreneurship: the role of founder motivations," The Journal of Technology Transfer, Springer, vol. 48(1), pages 68-125, February.
    14. Alexander Konon & Alexander S. Kritikos, 2019. "Prediction based on entrepreneurship-prone personality profiles: sometimes worse than the toss of a coin," Small Business Economics, Springer, vol. 53(1), pages 1-20, June.
    15. Jorge Velilla & Raquel Ortega, 2017. "Determinants of entrepreneurship using fuzzy set methods: Europe vs. non-Europe," Applied Economics Letters, Taylor & Francis Journals, vol. 24(18), pages 1320-1326, October.
    16. Uwe Cantner & Philip Doerr & Maximilian Goethner & Matthias Huegel & Martin Kalthaus, 2024. "A procedural perspective on academic spin-off creation: the changing relative importance of the academic and the commercial sphere," Small Business Economics, Springer, vol. 62(4), pages 1555-1590, April.
    17. Kim Klyver & Benson Honig & Paul Steffens, 2018. "Social support timing and persistence in nascent entrepreneurship: exploring when instrumental and emotional support is most effective," Small Business Economics, Springer, vol. 51(3), pages 709-734, October.
    18. Konon, Alexander, 2016. "Career choice under uncertainty," VfS Annual Conference 2016 (Augsburg): Demographic Change 145583, Verein für Socialpolitik / German Economic Association.
    19. Pankaj C. Patel & Yoav Ganzach, 2019. "Returns to balance in cognitive skills for the self-employed: evidence from 18 countries," Small Business Economics, Springer, vol. 52(1), pages 89-109, January.
    20. Jones, Raymond J. & Barnir, Anat, 2019. "Properties of opportunity creation and discovery: Comparing variation in contexts of innovativeness," Technovation, Elsevier, vol. 79(C), pages 1-10.
    21. Alexander Konon & Alexander Kritikos, 2018. "Prediction Based on Entrepreneurship-Prone Personality Profiles: Sometimes Worse Than the Toss of a Coin," SOEPpapers on Multidisciplinary Panel Data Research 1012, DIW Berlin, The German Socio-Economic Panel (SOEP).
    22. Rosendahl Huber, Laura & Sloof, Randolph & van Praag, Mirjam C., 2014. "Jacks-of-All-Trades? The Effect of Balanced Skills on Team Performance," IZA Discussion Papers 8237, Institute of Labor Economics (IZA).

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    More about this item

    Keywords

    Nascent entrepreneurship; Balanced skills; New venture creation;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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