The role of mindfulness in entrepreneurial market analysis

Abstract

Purpose– The purpose of this paper is to explore mindfulness as a cognitive construct that affects the identification and processing of information during market analysis leading to opportunity evaluation.Design/methodology/approach– This paper draws from theory on entrepreneurial cognition and introduces the concept of mindfulness in market analysis to better understand the entrepreneurial mindset at the opportunity evaluation stage of the value-creation process.Findings– Based on a review of the literature on entrepreneurial cognition and mindfulness at the marketing/entrepreneurship interface, a detailed description of the concept of mindful market analysis is presented. In addition, propositions are developed regarding the moderating effects of mindful market analysis on the relationships between various personal and psychological factors and information processing outcomes related to opportunity evaluation.Originality/value– Much research exists regarding idea creation, entrepreneurial action, opportunity discovery and recognition and entrepreneurial traits. Taking a different approach, this research focuses on opportunity evaluation and the role of market analysis at this stage of the entrepreneurial process. Overall, these contributions help to fulfill the call for more research on the intrapersonal cognitive processes of entrepreneurs and their role in opportunity evaluation.