Entrepreneurship is often described as a turbulent emotional journey punctuated by soaring excitement and periods of profound doubt. Yet, new research published in the Strategic Entrepreneurship Journal suggests that entrepreneurs with high psychological resilience experience far fewer emotional ups and downs than their less resilient peers. Rather than being swept along by the volatile nature of business ownership, these individuals appear better equipped to maintain a sense of emotional steadiness—even during periods of stress or uncertainty.
Led by Dr. Lauren A. Zettel, Assistant Professor of Entrepreneurship at Central Michigan University’s College of Business Administration, the study explores how resilience influences entrepreneurs’ day-to-day emotional experiences. While previous research has established a link between resilience and overall emotional positivity, Dr. Zettel’s work examines how resilience affects the fluctuation of emotions over time. This subtle but significant distinction offers more profound insight into how resilient entrepreneurs might be better prepared to feel good and remain emotionally consistent.
The research team collected data from 163 technology entrepreneurs to investigate this dynamic. Participants first completed an online assessment measuring their psychological resilience and describing a significant challenge they had recently faced in their business. Over 10 days, these entrepreneurs reported daily on their emotional states, work effort, and any new challenges they encountered. This longitudinal design allowed researchers to trace how emotions varied from one day to the next in terms of both individual resilience levels and ongoing entrepreneurial demands.
The results were telling. Entrepreneurs with higher resilience scores demonstrated less emotional fluctuation throughout the study period. In contrast to the conventional image of the entrepreneur as a figure constantly oscillating between excitement and despair, the data suggest that resilient individuals experience a more balanced emotional landscape. This sense of equilibrium was linked to more stable work efforts, suggesting that emotional consistency may help fuel sustained motivation and productivity.
Equally noteworthy was the finding that emotional instability influenced the amount of energy entrepreneurs invested in their work. Participants who experienced wider swings—especially in negative emotions—were likelier to report changes in how long or intensely they worked. According to Dr. Zettel, these emotional swings can be taxing: “Entrepreneurs who maintain a more even emotional keel are better able to conserve their psychological resources. They’re less likely to become depleted and more capable of navigating the daily business demands.”
These findings have important implications for entrepreneurs, educators, and mental health professionals. Instead of focusing exclusively on minimising negative emotions or encouraging unrelenting positivity, the research points to the benefits of cultivating emotional stability. Building resilience may be one of the most effective ways entrepreneurs can protect their well-being, regulate their energy, and maintain consistent performance in the face of inevitable challenges. For those weathering the emotional storms of entrepreneurship, this study offers a compelling message: resilience helps you recover and stay grounded.
More information: Lauren A. Zettel, Rethinking the rollercoaster: Resilience and affect in entrepreneurship, Strategic Entrepreneurship Journal. DOI: 10.1002/sej.1533
Journal information: Strategic Entrepreneurship Journal Provided by Strategic Management Society