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Startups is a popular phenomenon that has a significant impact on globaleconomy growth, innovation and society development. However, there is stillinsufficient understanding about startups, particularly, how to start a newbusiness in the relation to consequent performance. Toward this knowledge, wehave performed an empirical study regarding the differences between a Resourceand Competence View (Internal) vs Environment and Market View (External) whendefining a Business. 701 entrepreneurs have reflected on their startups on nineclasses of Resources (values, vision, personal objectives, employees andpartners, buildings and rental contracts, cash and credit, patents, IPR's andbrands, products and services and finally revenues and grants) and threeelements of the Business Mission ("KeyContribution", "KeyMarket" and"Distinction"). It seems to be a tendency to favour the Internal View over theExternal View. This tendency is clearer in Stable Economies (Europe) than inEmerging Economies (South Africa). There seems to be a co-variation between thetendency to favour the Internal View and the tendency to focus on addingResources. Finally, we found that an order-based analysis seems to explain thedifferences between the two views better than a number-based method.

Resource and Competence (Internal) View vs. Environment and Market (External) View when defining a Business