Success in entrepreneurship: the impact of self-esteem and entrepreneurial orientation

Abstract

Self-esteem and entrepreneurial orientation are crucial factors that influence entrepreneurial behavior and performance at both the individual and organizational levels. This study investigates the relationship between self-esteem and entrepreneurial orientation, focusing on how self-esteem may affect attitudes toward entrepreneurship, willingness to take risks, and, ultimately, entrepreneurial success. While previous research has acknowledged the importance of psychological factors in entrepreneurial intention and new venture creation, this study adopts a novel approach by centering self-esteem in the context of entrepreneurship within newly established companies. Given the complexity of the constructs involved, a qualitative approach is well-suited to address the exploratory nature of this research. We conducted a multiple-case study using semi-structured interviews with entrepreneurs from various sectors, which provided valuable insights into their personal experiences during their entrepreneurial journeys. The data were carefully analyzed using the Gioia method, a robust framework suitable for examining complex social phenomena and generating context-sensitive theories. This exploratory approach offers a nuanced understanding of the “how” and “why” behind the phenomena investigated, employing abductive reasoning to connect theory and observation. The results indicate a significant relationship between the variables, suggesting that self-esteem positively influences entrepreneurial orientation and, consequently, entrepreneurial success. These preliminary findings generate hypotheses for future research to further explore these relationships and ultimately validate the conclusions across different contexts. This research offers valuable insights for entrepreneurs, educators, and policymakers to develop strategies and support systems that foster self-esteem, enhance overall well-being, and promote entrepreneurial success.