Abstract

Schumpeter (1934) stated that entrepreneurship is not a profession and that being an entrepreneur is not a lasting condition; whereas Drucker (1985) claimed that entrepreneurship is a discipline and can be learned. We reason that if entrepreneurship is a profession or discipline then basic entrepreneurial skills can be learned in school and enhanced with real-world experience as a practicing entrepreneur. We propose that serial entrepreneurs should outperform one-timers and should get increasingly better with each successive new venture. (One-timers are entrepreneurs who have founded only one company.)

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