Learning from Sports Entrepreneurs - Development of a conceptual framework for entrepreneurial risk-handling

Abstract: The research takes a descriptive and exploratory approach in understanding how the risk experience of top athletes shapes sports entrepreneurs’ risk-handling strategies. In particular, the purpose of this study is to advance the theoretical knowledge of entrepreneurial risk-handling by studying risk-handling strategies developed and applied by sports entrepreneurs and putting them into a conceptual framework of entrepreneurial risk-handling that can be used by any entrepreneur and for future research. Ten in-depth, semi-structured interviews were conducted with active sports entrepreneurs who can draw on a successful career as a top athlete and are active entrepreneurs in different sectors. The analysis allowed understanding how individuals developed fundamental risk-handling strategies already in the athletes' career. The findings show how these strategies are then applied in the second career as a sports entrepreneur to handle risky situations in the uncertain world of entrepreneurship. Furthermore, the study gives a strong indication of how much all entrepreneurs can learn from sports entrepreneurs and their risk handling strategies. This led to the construction of a first conceptual framework of entrepreneurial risk-handling. Lastly, theoretical and practical implications were delineated.