Behind Every Superman there is a Clark Kent: Patience as a Strength in the Entrepreneurial Process

Abstract

Entrepreneurs act under uncertain conditions and resource constraints to bring new products or services to life. While examining what characteristics and behaviors help entrepreneurs traverse the challenging period between idea conception and venture sustainability, the academic and popular discourse has emphasized fiery traits and behaviors like risk-taking, perseverance and passion. Patience, the propensity to wait calmly in the face of frustration and adversity, has largely been unnoticed. An inductive, longitudinal study of nine nascent entrepreneurs in the early stages of venture building finds that patience is an important trait that could partly explain why some entrepreneurs stay the course while others give up. The article contributes to the study of nascent entrepreneurship and entrepreneurial action by lending empirical evidence to the existence of ‘Entrepreneurial Patience’ as a trait that can influence the venture creation process.