The study of entrepreneurial passion has helped to extend understanding of why certain entrepreneurs are better able to cope with extremely challenging situations in ensuring the creation, survival, and growth of their new ventures. Previous work has focused on how passion for inventing, founding, and developing influence entrepreneurs’ performance on a wide array of individual and venture outcomes. However, less progress has been made in developing a better understanding of the individual characteristics that influence and give rise to particular forms of passion. In this study, we explore how two of the functional dimensions of self-regulatory mode - locomotion and assessment - can direct individuals toward specific types of entrepreneurial passion. We argue that an individual’s regulatory mode orientation towards assessment, locomotion, or both, precede and direct the development of a particular type of entrepreneurial passion. Further, we specify and test a holistic model where each type of entrepreneurial passion (inventor, founder, and developer passion) influences entrepreneurial effectiveness on distinct aspects of the entrepreneurial process (e.g., opportunity recognition, venture creation, and venture growth). Finally, we hypothesize that each type of entrepreneurial passion mediates the influence of locomotion and/or assessment on these different new venture outcomes.