Nowadays, entrepreneurship literature has become an important component for the development of productivity and economic growth. The entrepreneurial activity is one of the contributors to the country’s economic development. From that, this paper examines five entrepreneurship models with underlying empirical studies. These are; (1) Conceptual Framework of Business Success, (2) Model of the Entrepreneurship Process, (3) Conceptual Framework of Business Success in SMEs, (4) A Model of Strategic Entrepreneurship, and (5) Input-Process-Output Model of Strategic Management. These models are useful and a thorough understanding of how an entrepreneur’s success is important, because this will lead to the development of new tools, such as (1) tools for business to improve their innovation and growth processes and, (2) tools for governments to develop new policies to support and direct economic growth.