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The purpose of this study was to document the problem‐solving styles of SME entrepreneurs operating in an emerging market.

The authors conducted in‐depth interviews with ten successful company founders around Bangkok, Thailand. The discussion focused on the entrepreneurs' experiences during the early days of their businesses.

Entrepreneurs embraced risk. They emphasized learning‐by‐doing, leveraging current strengths and preparedness to fail before succeeding.

The authors describe some useful problem‐solving approaches that may be useful to leaders of big companies.