Entrepreneurial success across novice, serial and portfolio entrepreneurs

The aim of the article is to examine the relations between the type of entrepreneur (novice, serial, portfolio) and entrepreneurial success understood as a process that includes opportunity identification, opportunity exploitation, and the firm's performance. The study, based on Shane's framework and the resource-based view extended to include psychological capital, was conducted among 326 micro and small entrepreneurs in Poland. The results showed that the type of entrepreneur does not differentiate the overall level of success; however, it does influence its specific dimensions. Serial entrepreneurs demonstrate greater effectiveness in exploiting opportunities, whereas portfolio entrepreneurs are more successful in identifying them. Psychological factors such as self-efficacy, autonomy, and optimism proved to be stronger explanatory variables of success than the demographic variables analysed, and their importance appeared to be more strongly associated with success among more experienced entrepreneurs. The study confirmed the multidimensional nature of entrepreneurial success, integrated the resource-based perspective with the concept of psychological capital, and highlighted the need for tailored developmental support for different types of entrepreneurs.