This empirical study extends beyond efforts to contrast entrepreneurs with non-entrepreneurs and elucidates comparisons among entrepreneurs. Specifically, it investigates capability and vulnerability self-images among three groups of entrepreneurs to understand differences in perceptions. Using a sample of 725 graduate young entrepreneurs, multinomial logistic regression shows that low-intention nascent, high-intention nascent and actual entrepreneurs perceive their potential and fears differently. The evidence shows that nascent, compared to actual entrepreneurs have faith in most of their entrepreneurial abilities. In contrast, nascent are sensing more fears while experiencing the entrepreneurial process. In addition, high relative to low-intention nascent entrepreneurs have higher creativity, higher networking skills and lower fear of failure. The discussion regarding why entrepreneurs do not constitute a homogenous population has important implications for both theory and practice.
