Samenvatting

Objectives: This paper aims to delve into the diverse motives behind voluntary entrepreneurial exits and the corresponding pathways, based on the lived experiences of entrepreneurs who have chosen to exit.
Prior Work: Entrepreneurial exit, especially voluntary exit, is a multidimensional phenomenon with significant personal and professional implications. Entrepreneurs choose to exit for various reasons, ranging from financial considerations to more personal, intrinsic, or even transcendent motives. Despite the importance of understanding these motives, the voluntary exit of entrepreneurs is underexplored in current literature.
Approach: The aim was to focus on the differences in lived experiences among participants who have either chosen voluntary firm exit or are in the process of exiting voluntarily. Through in-depth interviews (n=10), the study uncovers the diverse motives driving voluntary entrepreneurial exits and corresponding exit pathways, explicitly viewing entrepreneurship beyond purely economic considerations.
Results: By adopting a humanistic approach, this study transcends economic considerations to emphasize the subjective dimensions of voluntary entrepreneurial exit, such as individual values and a sense of purpose. The findings reveal diverse motives, each requiring corresponding exit pathways. The respondents offer a nuanced perspective on voluntary exit, indicating that their motives arise from personal aspirations related to fulfillment, life changes, and evolving business needs, rather than being solely driven by financial distress. These motives—extrinsic, intrinsic, and transcendent—are dynamic and evolve with time and experience. Voluntarily exiting an entrepreneurial venture is not just an organizational decision, but a personal and emotional journey. It underscores the importance of time, exploring new paths, and viewing the exit as a phase of growth and self-discovery. This process necessitates space, financial security, and family support, revealing that entrepreneurial exits are shaped by complex, multifaceted motives beyond conventional notions of success or failure.