An Empirical Study On The Relationship Between Business Model Attributes Of New Ventures And Entrepreneurial Failure

In recent years,with the rapid development of Internet technology,under the guidance of the policy of “mass entrepreneurship and innovation”,a large number of entrepreneurs have flooded into the Internet field.There are 127,647 Internet startup companies in the ITJUZI database.Under the background of a booming Internet entrepreneurship,enterprises with failed entrepreneurship emerge in an endless stream.Among them,“C-round death” is particularly eye-catching.The "C-round death" phenomenon has sparked heated discussions in the industry.The reasons for entrepreneurship failure are mainly concentrated on the fact that the product and market demand are not matched,the source market is not big enough,the entrepreneurial team's ability is not enough,the competition is fierce,and the problem of cost control.However,there are few studies on the entrepreneurship failure in the academic circles.The existing research is only a simple list of the reasons for the failure of entrepreneurship.The specific mechanism of the entrepreneurship failure has not been thoroughly explored.The lack of literature on the failure of entrepreneurship from the perspective of business model has limited the development of follow-up research on business model and entrepreneurial failures.So,what is the specific mechanism for the failure of entrepreneurship? How to open the "black box" of business model to explore the relationship between business model and entrepreneurial failure?Therefore,based on the "C-round death" phenomenon,this paper studies the specific path and internal mechanism of entrepreneurial failure from the perspective of business model based on the theory of service dominant logic,value network and lifecycle,and empirically tests the relationship between business model attributes and entrepreneurial failure.Firstly,according to the inherent logic of value creation,this article summarize three business model attributes: value,consistency and dynamics,explain the connotation of three business model attributes,and clarify the relationship between business model attributes and entrepreneurial failure risks.On the main research line,variables such as entrepreneurial environment,industry competition and financing ability are added as control variables to enrich the theoretical framework of this paper.This paper collect 122 samples through various channels,encode the information of each sample according to the grounded theory,demonstrate the coding process with Kung Fu Xiong,and briefly explain the coding results.Then this article use the expert scoring method to measure the three main constructs,and carry out the reliability and validity analysis of the scale.The results show that the scale can effectively measure the constructs and the scale is stable and reliable.Finally,multiple regression analysis is carried out to empirically test the relationship between business model attributes and entrepreneurial failure risks.Studies have shown that companies with higher levels of value,consistency,and dynamics in business models have lower risk of entrepreneurial failure.This conclusion reveals that in the context of the mobile Internet era,the entrepreneurial environment and industry competition are becoming more and more complex,so the new venture should constantly adjust business models through learning and trial.Enhancing the value of the business model is the core,achieving consistency is the guarantee,and maintaining dynamics can be a long-term foundation.