Chapter 7: Entrepreneur Resilience: What Makes Entrepreneurs Start Another Business after Failure?

Joseph A. Schumpeter & Warren G. Bennis & Fu-Sheng Tsai & Yueh-Chin Chen

Entrepreneur resilience: What makes entrepreneurs start another business after failure? We shall finally try to round off our picture of the entrepreneurship in the same manner in which we always, in science as well as in practical life, try to understand human behavior, viz. by analyzing the characteristic motives of his conduct. Any attempt to do this must of course meet with all those objections against the economist's intrusion into ‘psychology’ which have been made familiar by a long series of writers … There may be rational conduct even in the absence of rational motive. But as soon as we really wish to penetrate into motivation, the problem proves by no means simple. The leaders I met, whatever walk of life they were from, whatever institutions they were presiding over, always referred back to the same failure—something that happened to them that was personally difficult, even traumatic, something that made ...

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