How Does Entrepreneurs' Grit Predict Effectual Decision‐Making?
Abstract
ABSTRACT Entrepreneurs' grit is one of the most relevant predictors of new venture performance. We investigate whether the “stubbornness” of entrepreneurs' grit negatively relates to their effectual decision‐making abilities. Understanding the underlying mechanisms is relevant because the effectual decision‐making abilities of founders are crucial for new venture performance. We leverage self‐regulation theory to gain a deeper understanding, analyzing grit (perseverance of effort, passion attainment, consistency of interest) and effectual decision‐making (experimentation, flexibility) on their reflective subdimensions. Using survey data from 451 entrepreneurs in the DACH region, we validate our research model by applying structural equation modeling. We find two results. First, we reveal that grit's perseverance of effort and grit's passion attainment positively relate to effectual flexibility. Second, we uncover a negative association between grit's consistency of interest and effectual experimentation. We thus advance the academic discussion about a potential stubbornness of gritty entrepreneurs. We argue that grit's consistency of interest weakens the entrepreneurs' experimentation abilities, which are crucial for finding the right product‐market fit.
Authors 3
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Affiliation as printed
RWTH Innovation and Entrepreneurship Group (WIN)—TIME Research Area RWTH Aachen University Aachen Germany
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Andrea Greven Aachen
Affiliation as printed
RWTH Innovation and Entrepreneurship Group (WIN)—TIME Research Area RWTH Aachen University Aachen Germany
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Malte Brettel Aachen
RWTH Aachen University · WHU – Otto Beisheim School of Management
Affiliation as printed
Entrepreneurship and Innovation Group WHU—Otto Beisheim School of Management Vallendar Germany
RWTH Innovation and Entrepreneurship Group (WIN)—TIME Research Area RWTH Aachen University Aachen Germany
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