Fear of failure as a positive force

Abstract

This study aims to determine the structure of the relationship between fear of failure and entrepreneurial action and which coping strategies best contribute to a positive effect of that relation. More specifically, this study examines how entrepreneurs can convert fear of failure into a positive effect on entrepreneurial action. The objective of this research lead to the research question: “Which coping strategies will be best to yield a positive effect from Fear of Failure on Entrepreneurial Action?” In order to provide an answer to this question, semi-structured interviews are conducted with ten entrepreneurs who have at least five years of experience. The interviews showed that problem-focused coping strategies are best to yield a positive effect from fear of failure on entrepreneurial action. Emotion-focused coping strategies can provide a positive effect from fear of failure on entrepreneurial action when it involves social support and a safety net. Avoidance-focused coping strategies do not lead to a positive effect from fear of failure on entrepreneurial action. need for achievement is favourable to obtain a positive emotional response to fear of failure. These findings provide entrepreneurs tools to deal with fear of failure, which leads to more entrepreneurial action.