On becoming an entrepreneur: an evolving typology

This paper examines the perceptions of prospective entrepreneurs in light of the possible influence of the post‐Internet boom awareness and the slowing growth of the economy on their attitudes toward founding a business. The study presents and analyzes the responses and ensuing discussion to questions posed to 54 individuals in three college entrepreneurship courses. Using a controlled Internet discussion board, an interactive dialogue developed among participants. According to the qualitative research findings, a majority of participants in the study perceive there is a slight decline in entrepreneurial activity after the widely publicized failure of new e‐businesses that were created in recent years, and the subsequent slowing of the economy. However, there are several reasons why individuals considering entrepreneurship would continue with their goal of founding a business, including greater control of their destiny, increased satisfaction, more money, and creating a legacy for their family and children. Recommendations are made for further qualitative and empirical research of prospective entrepreneurs in follow‐up to these findings.