Entrepreneurial Attitudes and Action in New Venture Development

Abstract

How do entrepreneurs think about themselves? This is the key question addressed in this paper. The author considers how motivational cognitions influence action to establish ventures and explores the relationships between entrepreneurial attitudes (self-efficacy, confidence and commitment) and entrepreneurial actions once the decision to start a venture has been taken. Using longitudinal data from the Panel Study of Entrepreneurial Dynamics, support is found for the proposition that positive attitudes enable entrepreneurs to persist with effective and appropriate search and organizing activities amid the uncertainty and instability of the new venture environment. Some support is also found for a direct association between entrepreneurial attitudes and venture performance.

Keywords: nascent entrepreneurship, entrepreneurial attitudes, entrepreneurial action, self-efficacy, longitudinal survey