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Previous research has underlined, normally from a firm-level perspective, the importance of entrepreneurial orientation in explaining objective entrepreneurial success. Nevertheless, its impact on the perception of entrepreneurs with respect to what entrepreneurial success means to them remains underexplored. Based on a sample of manager-owners of small companies, and contemplating entrepreneurial orientation as an individual concept, we used a time-lagged design with two data-collection points to explain the effect of innovative orientation (IO), risk-taking orientation (RTO) and proactive orientation (PO) on the subjective success of entrepreneurs. Our results show that only one dimension of entrepreneurial orientation, proactive orientation, is associated with entrepreneurs’ satisfaction with their activity, life, organization and the growth of the company.

Entrepreneurial Orientation: Its Relationship with the Entrepreneur’s Subjective Success in SMEs