Affect and adaptation in entrepreneurial goal pursuit

An entrepreneur’s motivation to set and strive towards their business goals is an integral part of the venturing process. Research has indicated that positive affect enhances motivation, specifically in terms of the level of effort devoted to achieving a goal. However, motivation is also reflected in the strategy or tactics used to attain goals. Interestingly, scholars know substantially less about this aspect of motivation, even though it may be equally important. In this article, we examine how affect shapes an entrepreneur’s propensity to change their strategy when encountering a challenge in the venturing process. Our longitudinal study of 166 tech entrepreneurs reveals that both positive and negative affect have a significant role to play in motivational processes, particularly during challenging times. The study has practical implications for how entrepreneurs manage their feelings when facing challenges and theoretical implications for how scholars apply affective theories in entrepreneurship.