Search and discovery by repeatedly successful entrepreneurs

Abstract

This article examines the use of a model of search by entrepreneurs; for decades they have been advised to remain alert but now, new approaches are more open to effectuation and creation. However, so far none provides guidance regarding how to improve search effectiveness. We report upon a phenomenological investigation of Fiet’s model of constrained, systematic search which offers a prescriptive alternative. In order to test the latter’s effectiveness, 10 participants who started 47 ventures were interviewed. The article presents evidence of its use by these repeatedly successful entrepreneurs, finds support for the model and discusses its limitations and contributions.