Chapter 4: Opportunity Identification Behavior by Different Types of Entrepreneurs

Using entrepreneurial cognitive processes and knowledge structures as building blocks, a conceptual distinction is made between four types of entrepreneurs: “pure” novice entrepreneurs, “transient” novice entrepreneurs, “experienced” habitual entrepreneurs, and “expert” habitual entrepreneurs. I highlight that prior business ownership experience is a necessary but not a sufficient condition for an individual to become an “expert” entrepreneur. A cognition-based typology is used to highlight variations in the opportunity identification behavior of different “types” of entrepreneurs.