Entrepreneurship is often described as an emotional rollercoaster, filled with thrilling highs and gut-wrenching lows. But according to new research published in the Strategic Entrepreneurship Journal, resilient entrepreneurs experience far fewer emotional twists and turns than their less resilient peers.
The study, led by Dr. Lauren A. Zettel, Assistant Professor of Entrepreneurship at Central Michigan University's College of Business Administration, explores how psychological resilience influences the emotional experiences of entrepreneurs facing day-to-day challenges in their ventures.
"Previous studies have shown that resilient individuals tend to experience more positive emotions overall," said Dr. Zettel. "But this study takes it a step further by examining how resilience affects the fluctuation of emotions over time—something that has significant implications for entrepreneurial performance and well-being."
To explore this connection, Dr. Zettel collected data from 163 technology entrepreneurs. Participants first completed an online survey assessing their resilience and describing a significant business challenge. Then, over a 10-day period, they reported daily on their emotional states, the effort they put into their work, and any challenges they encountered.
The results were compelling: Entrepreneurs with higher resilience scores experienced significantly fewer emotional fluctuations, suggesting a more stable emotional state from day to day. This emotional steadiness was also linked to more consistent efforts toward achieving business goals.
"This finding is particularly interesting because entrepreneurship is often thought of as a volatile emotional journey," said Zettel. "Yet, resilient individuals seem to find ways to remain steady—even when facing adversity."
Notably, the study also found that the extent of emotional fluctuation influenced how much effort entrepreneurs invest in their work. Those who experienced greater swings in emotion were more likely to show changes in how long and how hard they worked—particularly after experiencing unusual spikes in negative emotions.
"These shifts can be draining," Zettel explained. "Entrepreneurs who maintain emotional balance conserve their self-regulatory energy and are better equipped to meet the demands of daily entrepreneurial life."
The study provides valuable insights for entrepreneurs, educators, and mental health professionals. Rather than aiming to suppress negative emotions or amplify positivity, the research suggests that fostering emotional consistency may be a more effective strategy for long-term success.
The findings appear in the Strategic Management Journal, the world's leading high-impact journal for research in strategic management, published by the Strategic Management Society.
For entrepreneurs seeking to weather the storms of business ownership, this study offers a hopeful message: resilience doesn't just help you bounce back—it helps you stay steady.
Read the full paper in the Strategic Entrepreneurship Journal .
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