This chapter is concerned fi rst of all with the nature of entrepreneurial work and with the cognition that may well underlie this type of work. By understanding the nature of entrepreneurial work it is argued that we better understand entrepreneurs -the problems they live with and the way they think about them. Popper writes that all sciences begin with problems. Problems are needed to direct theorizing. The central problem that this book is directed towards is explaining and predicting the fi

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... nancial performance of entrepreneurial fi rms. This chapter places the problem of entrepreneurial performance within a social and economic context of arguably related problems. Never before has entrepreneurship been promoted in so many economies and across so many forms of media. Governments regularly pledge ongoing support for budding entrepreneurs. Universities educate many thousands of entrepreneuriallyminded or curious students. Magazines celebrate the existence of entrepreneurs and television shows offer a glimpse into their lives. The objective of this chapter is to provide an overview of the nature and outcomes of entrepreneurial experience. Ten questions are posed about entrepreneurial activity and scientifi c evidence is provided to demonstrate the state of current knowledge. The answers are designed to provide budding researchers, educators and practitioners with a sense of the extent and limits of our knowledge.