Towards Nonlinearity in the Entrepreneurial Process: The Entrepreneurial S-Curve Perspective

Is the entrepreneurial process static? Is the process from idea to fruition on a linear trajectory and similar for all startups? Extant literature has documented four or five stages from startup to decline but paid little attention to undulations. Accounting for the dynamic nature of business and competition, we employ an S-curve perspective, integrate possibilities along the entrepreneurial (ENT) process to explain its nonlinearity and propose strategies to maximize performance. These strategies depict what we term “entrepreneurial S-curve” and are drawn from resource-based views, dynamic capabilities, and network perspectives. We explore the importance of less attended pre-startup stage, linking stage-specific risks and undulations to relevant strategic choices. In so doing, we present a holistic view, both defensively and offensively, for strategic formulation.