CASE STUDIES ON WHAT ENTREPRENEURS ACTUALLY DO TO ATTRACT RESOURCES: A TWO-ROUTE FRAMEWORK

Abstract

Taking a grounded approach, we devised a framework to explain how entrepreneurs attract critical resources to venture creation and development. The study was based on qualitative data from a series of interviews with thirteen entrepreneurs conducted in a sample of six case studies. The framework distinguishes two routes that entrepreneurs use to attract resources for their ventures: idea selling, referring to how the entrepreneurs seek to engage others within the venture and to persuade them to support their entrepreneurial efforts; and network building, concerning the attraction effects of the entrepreneurs' social network positions and venture legitimacy. The framework adds to entrepreneurship theory by proposing a conceptual model of resource gathering strategies in new venture creation and development.Entrepreneurship, resource attraction, idea selling, network building