Learning rock climbing: Building a metaphor to tame fear of failure in young entrepreneurs

Identified as one of the main obstacles to new business creation, fear of failure significantly impacts entrepreneurial self-efficacy beliefs, and therefore entrepreneurial intentions. We examine the role of emotions in the development of entrepreneurial self-efficacy, and emphasize the impact of entrepreneurial education in enhancing students' ability to cope with stressful negative emotions when confronted with risky situations. Over a period of two years, we studied a cohort of 34 graduate students enrolled in an experiential "climbing and entrepreneurship" program designed to investigate the role of positive and negative emotions on risk propensity and entrepreneurial self-efficacy. The climbing metaphor invited participants to transcend their physical and mental limitations in an attempt to reveal their entrepreneurial potential.