Abstract

Purpose

The purpose of this study was to investigate whether cognitive style and entrepreneurial drive are important for identifying individuals who have the potential to become successful entrepreneurs, and for discriminating between owner-managers operating in mature and early stages of venture creation and growth.

Design/Methodology

Data were obtained from entrepreneurs involved in early (n = 81) and mature (n = 50) stages of venture creation and growth. Instruments used in the study include the Cognitive Style Index which measures the analytic-intuitive dimension of cognitive style and the Carland Entrepreneurial Index which measures entrepreneurial drive.

Findings

Entrepreneurs tend to be more intuitive and less analytic than non-entrepreneurs. The more intuitive entrepreneurs exhibited higher levels of drive towards entrepreneurial behaviour. Those operating in the early stages of venture creation and growth exhibited higher entrepreneurial drive than those operating in mature stages.

Implications

Cognitive style may be useful for identifying individuals who have the potential to become successful entrepreneurs. The finding that more intuitive entrepreneurs exhibited higher levels of entrepreneurial drive suggests that cognitive style may also be helpful for discriminating between micro-entrepreneurs and macro-entrepreneurs.

Originality/Value

There is a paucity of convincing research on individual differences as a way of distinguishing entrepreneurs from non-entrepreneurs, even though it is believed to be central to understanding the field. This study is the first of its kind to consider the implications of both entrepreneurial drive and cognitive style for entrepreneurs operating in the mature and start-up stages of venture creation and growth.