Enabling Entrepreneurs to Build on their Means: The Effectual Decision-Making Canvas

Using the design science research approach and a framework for artifact development, this paper presents the design of an artifact in the field of entrepreneurship. More specifically, in the context of decision-making for early-stage entrepreneurs. In light of existing research indicating that the decision-making process significantly impacts an entrepreneur's effectiveness and that experienced entrepreneurs use Effectuation more often than Causation when reaching decisions, this paper presents a visual tool for assisting entrepreneurs in making decisions based on the principles of Effectuation. We finally test and evaluate the resulting "Effectual Decision-Making Canvas" with aspiring and practicing entrepreneurs.