Entrepreneurial Momentum for Sustainable Growth

Abstract

Public and private sectors view entrepreneurship as a movement of active, creative people who exploit opportunities under uncertainty, create new products, jobs, contribute to economic development of region. Entrepreneurs with their ‘fresh’ vision and agility play an important role in creating the sustainable future for all by overcoming social and environmental challenges. Based on real cases, we illustrate the path travelled by entrepreneurs from identifying the problem and creating the platform for communication with stakeholders to building solution and scaleup. We demonstrate our ‘4A engine’ approach to maintain the momentum for startup consisting of 4 phases: Attention, Actualisation, Attraction, and Action. Even if the start is successful, statistics show that many startups fail between 18 and 24 months. Therefore, we ask startup founders about their practice and biggest surprise they came across, essential choices and important decisions they made. Readers who find this practice useful will reflect by writing a Letter from the Future.

Strategic Background of the Start-Up—Qualitative Analysis

“…This corresponds to the low survival rate and the rare occurrence of exceptional business success of start-ups. Although the start is successful, statistics show that many start-ups fail between 18 and 24 months (Katernyak and Loboda 2020). Strategic imbalances can only be eliminated by engaging partners.…”