Fitting In and Standing Out: How Entrepreneurs Gain Legitimacy and Resources

What is it about?

This conceptual article develops a framework explaining how entrepreneurs gain legitimacy to secure resources within their business fields. Drawing on Bourdieu’s theory of practice, it views legitimacy as a socially embedded process requiring entrepreneurs to both conform to norms (“fit in”) and be seen as innovators (“stand out”). These dual expectations create a paradox that must be managed strategically. The model highlights how cultural and symbolic capital help entrepreneurs balance conformity and distinctiveness to access key resources. For practitioners, the framework underscores that entrepreneurial success depends not only on strong ideas or products but also on how entrepreneurs are perceived by key stakeholders. Gaining legitimacy requires demonstrating both credibility and originality—showing that one belongs in the field while still offering something new. Entrepreneurs who can adapt to the level of maturity of their industry and skillfully manage impressions are more likely to attract investors, customers, and other partners.

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Photo by Hunters Race on Unsplash

Photo by Hunters Race on Unsplash

Why is it important?

This paper advances theory by integrating the concept of legitimacy with Bourdieu’s sociological lens, offering a more nuanced understanding of how entrepreneurs secure resources through social positioning. It conceptualizes entrepreneurial legitimacy as a dynamic and paradoxical process rather than a static achievement, emphasizing how entrepreneurs actively shape their identities to meet multiple expectations. The model also highlights how field maturity and impression management influence the relative importance of conformity and innovation in resource acquisition. As business environments become increasingly competitive and transparent, this framework remains highly relevant. It provides scholars and practitioners with a fresh way to think about how entrepreneurs build credibility, signal distinctiveness, and manage perceptions in evolving markets. The focus on balancing fit and differentiation offers timely guidance for understanding entrepreneurial success in today’s complex institutional landscapes.