Purpose: Entrepreneurs can easily slide into severe economic crises (Fichman and Levinthal, 1991), in particular in the first years after founding. Additionally, research shows that entrepreneurs often lack a realistic evaluation of the entrepreneurial risks and barriers. Referring to research on cognitive and networked expertise (Ericsson et al.,…

Purpose: Entrepreneurs can easily slide into severe economic crises (Fichman and Levinthal, 1991), in particular, in the first years after their founding. Additionally, research shows that entrepreneurs often lack a realistic evaluation of the entrepreneurial risks and barriers. Referring to research on cognitive and networked expertise (Ericsson…

Entrepreneurship education is a growing field of research within vocational education. During the last decade, an increasing number of empirical studies have been conducted on the impact of entrepreneurship education courses (EECs). Yet studies on entrepreneurship education still lack evidence on how to prepare entrepreneurs to handle dynamism and…

During the post-formation phase, young ventures are often in danger of sliding into bankruptcy. The entrepreneur has to deal with a multitude of complex problems, decisions have to be made under time pressure or uncertainty, and upcoming crises have to be perceived in time. This paper presents seven critical incidents that are (1) realistic,…