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Business failure and entrepreneur experiences of passion

Lookup NU author(s): Professor James Cunningham

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This work is licensed under a Creative Commons Attribution 4.0 International License (CC BY 4.0).

Abstract

© The Author(s) 2023. This article examines how passion affects an entrepreneur’s business failure experiences. Our study explores the link between the type of passion an entrepreneur exhibits and the effect this has on the entrepreneurs’ attitudes and reactions to business failure. We analyse the way in which passion type informs entrepreneurs identification with their business, and the entrepreneurial process. Entrepreneurs who experienced harmonious passion maintained an emotional distance from their business failure. Harmoniously passionate entrepreneurs had a rational perspective and were reflective, self-aware, adaptive and future oriented. Entrepreneurs who experienced obsessive passion, were defensive and reactionary about their business failure. Obsessively passionate entrepreneurs attached contingencies and experienced increased stress and conflict. Our findings suggest promising opportunities for future research on the interplay between heterogeneous passions, adaptive/maladaptive entrepreneurial action and regulated goal pursuit.

Publication metadata

Author(s): Walsh GS, Cunningham JA

Publication type: Article

Publication status: Published

Journal: International Small Business Journal: Researching Entrepreneurship

Year: 2023

Volume: 42

Issue: 3

Online publication date: 26/09/2023

Acceptance date: 02/04/2018

Date deposited: 09/10/2023

ISSN (print): 0266-2426

ISSN (electronic): 1741-2870

Publisher: Sage Publications Ltd

URL: https://doi.org/10.1177/02662426231194482

DOI: 10.1177/02662426231194482

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