When, how, and why? Studying the exit process of 'formerly persistent' part-time entrepreneurs

This research enhances the understanding of the exit process of ‘formerly persistent’ unprofitable part-time entrepreneurs – a group of enterprising individuals who can be described as generally intrinsically driven in their endeavors. Based on interview data from (former) entrepreneurs, we developed a process model of exit that illustrates how not being able to live up to intrinsic aspirations, in particular, can cause negative emotions when leaving one’s business. Strikingly, however, the entrepreneurs studied often appear to seek ways that help them avoid these negative emotions, such as by reducing entrepreneurial efforts while ensuring to remain ‘symbolically’ connected to the entrepreneurial activities.