Entrepreneurial Mindsets: Theoretical Foundations and Empirical Properties of a Mindset Scale

Abstract

This study builds on research on mindsets from laboratory research to develop and test a measurement scale for entrepreneurial mindsets. A three-dimensional scale was constructed measuring elaborating mindsets, implemental indsets, and compulsiveness about business ideas. Exploratory and confirmatory factor analyses support the claim that these three latent variables may be reliably measured. Using two samples of altogether 608 business students enrolled in entrepreneurship and normal business classes, we were able to demonstrate that elaborating mindsets are antecedent to implemental mindsets. Finally, compulsive mindsets about entrepreneurial activities were mediated by implemental mindsets. We argue that compulsivity is part of the notable impression entrepreneurs make on others, and that this is caused by mindsets instead of personality. A discriminant analysis with the big five personality factors supports this as neuroticism is not correlated with entrepreneurial compulsiveness. Other traits are related to mindsets in ways predicted by contemporary research