Everyone admires serial entrepreneurs for their pluck and persistence, but they pose a big risk for the investors who fund their dreams. Our research shows that instead of learning from mistakes, serial entrepreneurs are just as apt to be overoptimistic after failure as before. Overoptimism—defined as the tendency to believe that one is more likely […]
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Everyone admires serial entrepreneurs for their pluck and persistence, but they pose a big risk for the investors who fund their dreams. Our research shows that instead of learning from mistakes, serial entrepreneurs are just as apt to be overoptimistic after failure as before.
A version of this article appeared in the April 2011 issue of Harvard Business Review.
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DU Deniz Ucbasaran is a professor at Warwick Business School,
PW Paul Westhead is a professor at Durham Business School, and
MW Mike Wright is a professor at Nottingham University Business School, all in the UK.
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