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How Great Entrepreneurs Think

Brilliant improvisers, entrepreneurs don’t start out with concrete goals. Instead, they constantly assess how to use their personal strengths and resources they have at hand.
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What distinguishes great entrepreneurs? Discussions of entrepreneurial psychology typically focus on creativity, tolerance for risk, and the desire for achievement—enviable traits that, unfortunately, are not very teachable. So Saras Sarasvathy, a professor at the University of Virginia’s Darden School of Business, set out to determine how expert entrepreneurs think, with the goal of transferring that knowledge to aspiring founders. While still a graduate student at Carnegie Mellon, Sarasvathy—with the guidance of her thesis supervisor, the Nobel laureate Herbert Simon—embarked on an audacious project: to eavesdrop on the thinking of the country’s most successful entrepreneurs as they grappled with business problems.

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