Entrepreneurial Persistence: Entrepreneurial Virtues as Dynamic Constraints Over the Entire Lifepath

Abstract

In this paper, we encourage a widespread expansion of entrepreneur development beyond its current focus on the tools and skills associated with venture startup and development. Although important, this skills-based paradigm fails to provide guidance to entrepreneurs—perhaps the majority—who are not currently engaged in venture development or are reeling in the aftermath of an initial failure. To address this gap, we draw from three complementary streams of psychological research (identity theory, ecological psychology, and positive psychology) to posit a more holistic view of entrepreneur development across the entire lifepath—including the “white spaces” before, after, and between venture building. Specifically, we develop a distinction between venture development activities that are primarily skills based, and entrepreneur development activities (EDAs) that are primarily virtues based. We posit that increasing our understanding and dissemination of EDA insights can both guide entrepreneurs through psychologically amorphous interregnums along the entrepreneurial lifepath and encourage greater persistence following venture failures.