Journal of Entrepreneurship Research

Journal of Entrepreneurship Research

Unveiling the Key Effective Factors of the Failure of Hybrid Serial Entrepreneurs in Publishing Industry

Document Type : Research Article

Authors
Behzad Mohammadian 1
Mohammad Reza Jalilvand 2
Meisam Shahbazi 3
Nematollah Mousavi 2
1 Department of Management, College of Farabi, University of Tehran, Tehran, Iran.
2 Department of Business, College of Farabi, University of Tehran, Tehran, Iran.
3 Department of Industrial Management, College of Farabi, University of Tehran, Tehran, Iran.
10.22034/jer.2025.2030111.1142
Abstract
Introduction: This study aimed to identify the critical factors contributing to the failure of hybrid serial entrepreneurs within the publishing industry. Understanding these factors is crucial, as it enables individuals to learn from past mistakes, refine their strategies, and implement improved business structures. Early identification of potential failure factors can enhance business planning and prevent significant capital loss. Given the dynamic nature of the publishing industry and the unique challenges faced by hybrid serial entrepreneurs, this research sought to provide a comprehensive analysis that could be leveraged by both current and aspiring entrepreneurs in the field.
Methodology: Adopting a practical and inductive-comparative approach, this research utilized a mixed sequential methodology. Data were collected through thematic analysis of interviews conducted with 15 purposively sampled hybrid serial entrepreneurs who have been very experienced in the publishing industry. These qualitative insights provided a rich understanding of the challenges faced by these entrepreneurs. Subsequently, the qualitative data were quantitatively analyzed using the Best-Worst Method (BWM) to determine and prioritize the key factors influencing failure.
Findings: This study identified 22 significant factors contributing to the failure of hybrid serial entrepreneurs. Among these factors, several stood out as particularly critical. The continuation of financial problems was highlighted as a predominant issue, often stemming from macroeconomic issues or high operational costs inherent in the publishing industry. Another major factor was a lack of familiarity with start-up frameworks, which hindered effective business management and growth. Additionally, a disproportion between income and costs was frequently cited, indicating a fundamental misalignment in financial planning. Also Lack of experience and knowledge in specific areas relevant to the publishing industry further exacerbated these challenges, leaving entrepreneurs ill-equipped to navigate complex business landscapes. Conversely, factors such as fear of failure, changes in life paths, and failures of colleagues, while still relevant, were deemed less critical.
Conclusion/ Implications: The persistence of financial fluctuations emerged as the most influential factor in the failure of businesses within the publishing industry. This finding underscores the importance of robust financial planning and management for hybrid serial entrepreneurs. To mitigate these risks, entrepreneurs need to incorporate this understanding into their strategic planning processes, ensuring they are prepared to handle financial instability. Additionally, there is a critical need for government bodies to develop comprehensive support plans that can help avert crises and sustain the stability of the publishing sector. This might include financial assistance programs, educational initiatives to improve industry-specific knowledge, and frameworks to support innovative business models. By addressing these key factors, both entrepreneurs and policymakers can work towards fostering a more resilient and thriving publishing industry.
Keywords
Entrepreneur Failure
Hybrid Entrepreneurs
Learning From Failure
Serial Entrepreneurs

Subjects

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  • Receive Date 25 June 2024
  • Revise Date 14 April 2025
  • Accept Date 16 April 2025