Outlier antecedents, processes, and consequences in the emergence of new ventures

We investigate whether differences in individual opportunity cost influence the choice of a new venture’s strategy and, subsequently, how that strategy effects venture outcomes. Analyzing longitudinal data from a representative sample of nascent ventures with fuzzy-set Qualitative Comparative Analysis techniques, we identify six distinct strategy configurations, of which two are exclusive to outlier entrepreneurs (those individuals with the highest opportunity costs). Our findings demonstrate that global strategies focused on internationalization and innovation are central to the emergence and growth of outlier entrepreneurs, whereas those with much lower opportunity costs improve their chance for successful emergence with more local strategies.