Research On The Business Model Construction Of Entrepreneurial Firms

In the early 20th century, the renowned economist Schumpeter put forward that innovation is the source of economic growth, and the major way to implement innovation is starting a business. The countries or regions in where have active entrepreneurial activities may achieve rapid economic growth, on the contrary, if there have no entrepreneurial activities, the countries'economic growth is relatively slow. Thus, entrepreneurial activity has evolved into one of the most active and important factors in the process of economic development. However, many new founded enterprises'survival rate is really low, and they have no way to through the lifetime, considering these entrepreneurial firms'failure, the deeper reason is that they have no mature and unique business thinking, and can not form it into an innovative business model.I n this creative economy era, the competition between entrepreneurial firms and traditional large-scale enterprises is mainly based on the business models, every entrepreneurial firm who wants to survive and gets fast development, needs to build a good business model. For an entrepreneurial firm, its business model is developed by entrepreneur's business idea, it shows the basic meaning and strategic value of the entrepreneurial firm. Therefore, the research on the business model construction of entrepreneurial firms has a certain practical significance.This paper based on the studying of relevant literature about the classical theory of entrepreneurial process and business models, integers the entrepreneurial process theory with the theory of business models to see how an entrepreneurial firm can construct the unique business model at each stage of the entrepreneurial process. Then, based on the use of multiple case analysis, this paper selects three typical entrepreneurial firms to study the processes of business model construction during the firms'before start stage, start-up stage, early growth stage and late growth stage, and gets the final results about the business model construction of entrepreneurial firms, then put forward some suggestions for new entrepreneurial firms.