Stepping Stones or Stumbling Blocks: Psychological Capital and Overcoming New Venture Failure
Kevin Rhoads

It is common for entrepreneurs to face failure as a part of the entrepreneurial process. In fact over half of all new businesses fail within the first five years. The ability to emerge from failure in a positive manner is central for repeat entrepreneurs. This paper examines new venture failure through the lens of Psychological Capital to develop a better understanding of how entrepreneurs emerge from a failed business leading to future entrepreneurial activity. I explore how and why some entrepreneurs deal with a failed venture so that the failure becomes a springboard for beginning the entrepreneurial process again

Full Text: PDF     DOI: 10.15640/jmpp.v4n2a2