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The Impact of Entrepreneurial Failures on Psychological Resilience
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Author(s): Deepak Kumar Sahoo (Biju Patnaik University of Technology, Rourkela, India), Thi M. Le (Vietnam National University, Hanoi, Vietnam), Anish Kumar (O.P. Jindal Global University, India)and Ajay Chandel (Lovely Professional University, India)
Copyright: 2025
Pages: 20
Source title:
Supporting Psychological and Emotional Wellbeing Among Entrepreneurs
Source Author(s)/Editor(s): Muhammad Nawaz Tunio (The University of Sufism and Modern Sciences, Bhitshah, Pakistan)
DOI: 10.4018/979-8-3693-3673-1.ch020
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Abstract
This chapter explores the profound impact of entrepreneurial failures on psychological resilience, highlighting how setbacks can serve as catalysts for personal growth and innovation. It examines the nature of entrepreneurial failure, the concept of psychological resilience, and the ways in which failure can foster resilience through learning and adaptation. Furthermore, the chapter discusses the psychological impacts of failure, strategies for building resilience post-failure, and the influence of cultural and societal factors. It also emphasizes the role of emotional intelligence in navigating the challenges of entrepreneurship and outlines effective psychological interventions and support systems. By recognizing the importance of mental health and resilience, this chapter underscores the need for a supportive ecosystem that empowers entrepreneurs to overcome obstacles, ultimately contributing to sustainable economic growth and a thriving entrepreneurial community.
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