From Monkey Mind to Entrepreneurial Action

Abstract

The purpose of this research is to​investigate how individuals manage negative emotions to close the intention/action-gap of starting a new venture. In an entrepreneurial context, if an aspiring entrepreneur does not take action despite having actual intentions,theoreticallynew ventures can not be created.​“Many people form intentions tostarttheirownbusinessbutdo little to translate those intentions into action” ​ . ​This research is based on a qualitative research approach by a multiple case study. The empirical data was collected through semi-structured interviews comparing and contrasting six different venture founders (entrepreneurs) from differentindustries,backgroundsandsetups.Theresultsofthisresearch shows that the findings can be divided into tools and cognitions. The cognitions are the thoughts, or a state of mind, that made these founders start a venture. The tools are more or less what the founders needed outside of their cognition to gain a senseofconfidence,again cognition, to start a venture. ​ One can conclude that these tools are needed to silence the Monkey Mind, i.e. negative thoughts that delays the action, and generate certain cognitive factors that positively affects the founders and motivates them to act on their intentions to close the intention/action-gap to start a new venture.