This paper investigates how nascent entrepreneurs change their growth expectations during the start-up process, a topic that has not yet been fully investigated in extant literature. This paper is inspired by Dutta and Thornhill’s (2008) ideas. They describe a model on the evolution of growth intentions over time and distinguish between two cognitive styles: an analytic style and a holistic style. The main proposition of their conceptual paper is that holistic entrepreneurs experience relatively large shifts in growth intentions when they perceive competitive conditions to be different from initial expectations.