The literature on firms’ early internationalization includes a huge number of studies investigating the entry stage of companies, while works on the post-entry growth and survival have recently been increasing. In this context, this study aims to better explain which factors determine the evolution of born globals (BGs) during their lifecycles. The authors analyze the growth processes of six Italian manufacturing BGs at different stages of their development, with a particular focus on the transition of the venture from entry to the post-entry stage. The findings show that the entrepreneurial capabilities of the founders have a crucial role during the first international expansion of the companies. As BGs enter the post-entry phase, a trade-off emerges between entrepreneurial capabilities and some specific firm resources aimed at achieving the sustainable growth of the company. Moreover, the authors identify the existence of a turning point when companies switch from the entry to the post-entry stage. During this phase, entrepreneurs manage a process to transform their individual capabilities into an organizational knowledge base. Future research areas and managerial implications are discussed.
