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Thriving entrepreneurship is a necessary condition of long-term sustainability in all modern economies. However, many entrepreneurs-to-be fail to take real actions in their transition from dreamers to doers. In this paper, we demonstrate that there are significant gaps in the current understanding of the important pre-entrepreneurship stages of starting new companies. In particular, these gaps include a proper understanding of moderators such as procrastination, commitment, and acquiring entrepreneurial knowledge from informal and unstructured sources. A promising way to fill these gaps is researching a promising yet little-known group – wantrepreneurs. Our qualitative study of a group of wantrepreneurs who seriously consider becoming entrepreneurs but fail to take any concrete steps allowed us to propose a number of hypotheses in this area and propose an extension of the Entrepreneurial Event Model.

Why do wantrepreneurs fail to take actions? Moderators of the link between intentions and entrepreneurial actions at the early stage of venturing