TY - CHAP

T1 - Success Factors of Digital Start-ups

T2 - A Qualitative Analysis of the Entrepreneurial Personality from the Perspective of German Venture Investors

AU - Schumacher, Nina

N1 - Publisher Copyright: © 2023 Walter de Gruyter GmbH, Berlin/Boston.

PY - 2023/11/6

Y1 - 2023/11/6

N2 - This exploratory study examines the personality characteristics that influence the success of digital start-ups from the perspective of German venture investors. The original research takes a three-dimensional approach and integrates the micro-perspective on the entrepreneurial personality, the meso-perspective on the business model,and the macro-perspective on the entrepreneurial context. Based on qualitative content analysis of expert interviews with German VC investors, this study considers personality and behavioral characteristics of entrepreneurs, such as entrepreneurial motivation and energy and willingness to learn, as the most relevant characteristics for success. Particularly in the start-up phase of a digital company, the ability to question one’s approach and convictions regularly, not only when mistakes are recognized but also to consider information and assessments from others, characterizes successful entrepreneurship. In addition, German VC investors consider the overall group of personality characteristics (perspective on entrepreneurial personality) to be most important for entrepreneurial success. Furthermore, the experts’ assessment of success characteristics provides a valuable perspective that has received little attention in the current literature. Finally, this study provides practical added value for researchers and practitioners regarding considering focal points in German VC investors’ implicit or explicit valuation model.

AB - This exploratory study examines the personality characteristics that influence the success of digital start-ups from the perspective of German venture investors. The original research takes a three-dimensional approach and integrates the micro-perspective on the entrepreneurial personality, the meso-perspective on the business model,and the macro-perspective on the entrepreneurial context. Based on qualitative content analysis of expert interviews with German VC investors, this study considers personality and behavioral characteristics of entrepreneurs, such as entrepreneurial motivation and energy and willingness to learn, as the most relevant characteristics for success. Particularly in the start-up phase of a digital company, the ability to question one’s approach and convictions regularly, not only when mistakes are recognized but also to consider information and assessments from others, characterizes successful entrepreneurship. In addition, German VC investors consider the overall group of personality characteristics (perspective on entrepreneurial personality) to be most important for entrepreneurial success. Furthermore, the experts’ assessment of success characteristics provides a valuable perspective that has received little attention in the current literature. Finally, this study provides practical added value for researchers and practitioners regarding considering focal points in German VC investors’ implicit or explicit valuation model.

KW - Management studies

KW - start-up success

KW - entrepreneurship

KW - entrepreneurial personality

KW - Venture capital investors

KW - entrepreneurial motivation and energy

KW - willingness to learn

KW - digital start-up

KW - Entrepreneurship

UR - https://d-nb.info/1290728305

UR - https://www.degruyter.com/document/doi/10.1515/9783110747652/html#overview

UR - http://www.scopus.com/inward/record.url?scp=85177455182&partnerID=8YFLogxK

UR - https://www.mendeley.com/catalogue/92c4a6c4-18a8-3b94-ab77-5c3e0047e3d2/

U2 - 10.1515/9783110747652-026

DO - 10.1515/9783110747652-026

M3 - Contributions to collected editions/anthologies

SN - 978-3-11-074752-2

SN - 3-11-074752-9

T3 - De Gruyter Handbooks in Business, Economics and Finance

SP - 559

EP - 576

BT - De Gruyter Handbook of SME Entrepreneurship

A2 - Dabić, Marina

A2 - Kraus, Sascha

PB - Walter de Gruyter GmbH

CY - Berlin

ER -