Defining entrepreneurial success to improve guidance services: a study with a comprehensive database from Andalusia

Abstract

AbstractThe aim of this paper is to assess the level of success achieved by entrepreneurs. The concept of success has many subjective facets, and it needs to be evaluated to reach other higher objectives, such as improving support systems for entrepreneurs. The usual pre-existing focuses for the evaluation of business performance are analysed and adapted. Based on a real case, the most relevant variables for detecting success are studied and an algorithmic process (based on decision trees) is established to ascertain whether an entrepreneur has achieved success. The data refers to entrepreneurs from Andalusia, the European region with the highest unemployment rates and where support for entrepreneurship is on the agenda of all political parties. The model specifies a minimal set of variables to evaluate success in each case. Subsequently, a simple set of 29 questions is also offered, serving to classify most entrepreneurs (over 98% of 2221 individuals in the case analysed) by their level of success. An objective procedure to measure the success of entrepreneurs is given. Such method is based on artificial intelligence and on three focuses: positioning, expectations and evolution. Both the variables used in this case and the 29 questions necessary to classify the entrepreneurs by their level of success are explicitly provided.