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Venture tales: Practical storytelling strategies underpinning entrepreneurial narratives
Narratives help entrepreneurs and potential venture supporters to make sense of new ventures and to frame entrepreneurial journeys. Despite current understanding of how narratives shape entrepreneurial outcomes, however, there is limited guidance about how entrepreneurs might craft their own narratives in practice. In this article, we identify six types of entrepreneurial narratives-(1) an identity narrative, (2) an opportunity narrative, (3) a projective narrative, (4) a failure narrative, (5) a pivot narrative, and (6) a resourcefulness narrative-and we detail practical storytelling strategies entrepreneurs can use to shape each of these narrative types. We then propose that entrepreneurs can combine, sequence, and revise these narratives as the entrepreneurial journey unfolds. Knowledge of how to strategically manage the full entrepreneurial narrative repertoire enables entrepreneurs to create meaning and value where there once was none and to capture that value over time as a venture grows. -
Enacting entrepreneurial hustle
Success as an entrepreneur requires boldness, creativity, and action in the face of uncertain opportunities and idiosyncratic setbacks. Our recent research elevated and defined the concept of entrepreneurial hustle: an entrepreneur's urgent, unorthodox actions intended to be useful in addressing immediate challenges and opportunities under conditions of uncertainty. We argue this foundational construct is useful for explaining how successful entrepreneurs behave. Early scholarly research on entrepreneurial hustle has generated meaningful theoretical insights into the concept. In this article, we extend those insights into practical prescriptions for entrepreneurs, corporative innovators, and innovative changemakers, identifying what they might do and how they might use the hustle concept to effectively manage uncertain and ambiguous business scenarios. Furthermore, we examine the potential downsides of hustle and provide practical steps that can be taken to mitigate such risks.