Paper presented at the 27th International Congress of Applied Psychology, Melbourne, Australia July 11th-16th, 2010

1. Entrepreneurial Success is multidimensional: Development and Validation of Subjective Success Scale Dominika Dej 1 , Marjan Gorgievski 2 & Jürgen Wegge 1 1 Dresden University of Technology 2 Erasmus University Rotterdam Faculty of Mathematics and Natural Sciences Institute for Work, Social and Organizational Psychology 27 th International Congress of Applied Psychology, Melbourne, Australia July 11th-16th, 2010

5. STUDY 1: Results. Entrepreneurs‘ Success Definitions Category (N=243) Frequencies Relative Frequencies Ranking Satisfaction of employees & co-owners 61 25,10 3 Employees’ security 16 6,58 12 Customer satisfaction & loyalty 98 40,33 2 Goals and challenge 53 21,81 5 Personal satisfaction 46 18,93 6 Creativity and innovation 20 8,23 10 Free time and health 12 4,94 13 Reputation 34 13,99 7 Firm continuity 5 2,06 14 Any kind of company growth 101 41,56 1 Stability 60 24,69 4 Market position 22 9,05 8 Survival 17 7,00 11 Wealth & good life 22 9,05 8 Study 1: Results. Entrepreneur‘s success definition

6. Community Impact & Environment Contributing back to the society Social responsibility for employees Creating new working places Environmental friendly company Personal income enhancement To afford a good life Personal financial & family security Positive relations with clients Employees’ satisfaction and loyalty Positive & supportive working climate Work-life balance & time flexibility Making decisions, challenge Personal development Company profitability Growth (employee, revenue, profit) Innovation Being better compared with competitors Workplace Relations Personal Fulfillment Company Performance Success Personal Financial Rewards Study 2: Proposed Model of Entrepreneurial Success

10. Hypothesis 1: Development of scale measuring the Perception of Entrepreneurial Success Criteria Study 2: Results. Hypothesis 1,2. Construct Validity & Scale Reliability . 74 7 5. Personal fulfillment . 87 5 1. Company performance . 87 5 2. Workplace relations . 70 4 3. C ommunity impact . 71 3 4. Personal financial rewards Factors of the Importance of success criteria Items α Total Scale 24 . 88 Model Fit (N=184) CMIN/DF p CFI RMSEA Accepted model 1.69 p<.001 .90 .06

13. THANK YOU! Faculty of Mathematics and Natural Sciences Institute for Work, Social and Organizational Psychology [email_address] [email_address] [email_address]