F ese, Michael
A icle — Published Ve sion
Lea ning om A ican en ep eneu ship—on he
psychological unc ion o en ep eneu ial p epa edness
Small Business Economics
P o ided in Coope a ion wi h:
Sp inge Na u e
Sugges ed Ci a ion: F ese, Michael (2024) : Lea ning om A ican en ep eneu ship—on he
psychological unc ion o en ep eneu ial p epa edness, Small Business Economics, ISSN
1573-0913, Sp inge US, New Yo k, NY, Vol. 63, Iss. 4, pp. 1365-1380,
h ps://doi.o g/10.1007/s11187-024-00960-w
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Small Bus Econ (2024) 63:1365–1380
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RESEARCH ARTICLE
Lea ning omA ican en ep eneu ship—on
hepsychological unc ion o en ep eneu ial p epa edness
MichaelF ese
Accep ed: 31 July 2024 / Published online: 13 Sep embe 2024
© The Au ho (s) 2024
Abs ac Psychological p epa edness o en ep e-
neu ial ac ions helps o connec mac o-ins i u ional
suppo o en ep eneu s o ac ions o en ep eneu s.
Ac ion knowledge and pe sonal ini ia i e a e pa o
en ep eneu ial p epa edness, and he e a e wo aining
concep s ha ha e been de eloped o inc ease he num-
be o en ep eneu s among BA and high school s uden s
in low- and middle-income coun ies and o imp o e he
skills and mindse o en ep eneu s. I discuss la ge-scale
andomized con olled in e en ions in bo h o hese
a eas wi h he STEP and pe sonal ini ia i e aining.
Showing ha psychological p epa edness o en ep e-
neu ial ac ions can be enhanced, he ques ion is whe he
me hods shown o wo k in low-income coun ies can
in o m en ep eneu ship esea ch in gene al. Issues ha
seem o speak agains gene alizing a e o en seen in
necessi y, su i alis , and in o mal en ep eneu ship.
These issues a e discussed and a e deemed o lowe
impo ance o gene aliza ion o indings. The e a e
also me hodological ad an ages when doing esea ch in
low- and middle income coun ies.P ac ical and policy
implica ions a e also p o ided.
Plain English Summa y En ep eneu ship is abou
aking ac ion and seizing oppo uni ies. People o en
hink o A ican en ep eneu s as jus ying o su -
i e, bu he eis mo e o i . In ac , A ica has likely
many mo e en ep eneu s han he Wes , and hese
young business people a e keen o lea n and g ow.
We ha e c ea ed aining p og ams o uni e si y and
high school s uden s o boos he numbe o en ep e-
neu s and imp o e hei skills. Weha e es ed hese
p og ams wi h o e 6000 s uden s ac oss 11 de elop-
ing coun ies, and heyha e been success ul: T ain-
ing pa icipan s s a ed 30% mo e businesses han
he con ol g oup. We ha e also de eloped a ain-
ing called pe sonal ini ia i e o help en ep eneu s
inc ease hei p o i s by up o 30%. This has been
es ed wi h housands o pa icipan s in en coun-
ies. Wha makes hese aining p og ams special
is ha hey a e scien i ically es ed and p o en o be
highly e ec i e ( he es s we e simila o examining
he e ec i eness o a new medicine). They ocus on
immedia e skill and mindse lea ning. Psychologi-
cal aining helps en ep eneu s be eady o make he
mos o go e nmen and mac o-economic suppo o
businesses. So, he eis a lo we can lea n om en e-
p eneu ship in A ica.
Keywo ds En ep eneu ship· En ep eneu ial
ac ions· Pe sonal ini ia i e· Economic psychology
JEL Classi ica ion L26· D91· G41
M.F ese(*)
Asia School o Business (in collabo a ion wi hMIT Sloan
Managemen ), KualaLumpu , Malaysia
e-mail: [email p o ec ed]y; [email p o ec ed]
M.F ese
Depa men o Managemen & O ganisa ion, Leuphana
Uni e si y, Lünebu g, Ge many
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M.F ese
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1 In oduc ion
In his a icle, I a gue o he impo ance o psychol-
ogy o s udying en ep eneu ship, o me hodologi-
cal ad an ages o doing esea ch in low- and middle-
income coun ies (LMICs), and o he use ulness o
s udying en ep eneu ship in LMICs.1
Psychological esea ch on en ep eneu ship is
in e es ing o heo e ical and p ac ical easons:
Ac ions a e cen al o en ep eneu ship, and he e-
o e, he p ocess o imp o ing hose ac ions needs
o be s udied o p ac ical applica ions (F ese, 2021;
F ese & De K ui , 2000). Psychological ac ion heo y
allows o unde s and how ac ions in luence en ep e-
neu ial success (F ese, 2005; F ese & Fay, 2001).
S udying en ep eneu ship can help o educe po -
e y—one o he g and challenges o managemen
and en ep eneu ship schola s (Geo ge e al., 2016)
and a Uni ed Na ions Sus ainable De elopmen Goal.
A any momen in ime, he e a e a ound 210 million
i m c ea ions in LMIC coun ies ac oss he globe
(Reynolds, 2012). I in e en ions imp o e hei
ac ions, i would help economic de elopmen . A he
e y leas , he po e y o he owne s o mic o and
small en e p ises can be educed by inc easing hei
e ec i eness (Reynolds, 2010).
Mac o- and mic o-sys em app oaches o e ec-
i e suppo o en ep eneu s a e o en discussed
jus along disciplina y lines wi hou e e ence o
each o he . Economis s sugges la ge-scale (mac o-
sys em) imp o emen s o ins i u ions and s a egies
o coun ies, o example, en ep eneu ship iendly
ax egimes, access o c edi , good banking sys ems,
encou agemen o he p i a e sec o o collabo a e
wi h small businesses, imp o ing human capi al,
encou agemen o o malizing i ms, and suppo ing
good jobs, easy access o ma ke s, and educing ba -
ie s, such as co up ion o egula o y hu dles (Wu h
e al., 2022). These a e also desc ibed as impo an
by en ep eneu s (F ese e al., in p ep 2024). How-
e e , we sugges ha i is also necessa y o unde -
s and psychological p epa edness o en ep eneu ial
ac ions. Figu e1 desc ibes he ela ionship be ween
mac o-condi ions and mic o-a eas: Fo example,
good inancial suppo by go e nmen p og ams can
be o e ed and will be aken. Howe e , use s o such
inancial suppo need o be p epa ed o make he bes
use o inancial esou ces.
P epa edness o ac ions equi es inpu om psy-
chology; p epa edness was o iginally de eloped by
Seligman, combining biology wi h psychology o
unde s and he quick de elopmen o phobias (e.g.,
o snakes) (Seligman, 1971). We anspo his con-
cep o combine mac o-sys em economic concep s
wi h mic o-concep s o psychology: A ma ch be ween
mac o-ins i u ional o e s and psychological accep -
ance and mo i a ion is needed o s a a company.
Psychological p epa edness connec s he mic o-wo ld
o indi idual en ep eneu s o he mac o-wo ld o
ins i u ional condi ions. The idea is simila o he i
idea in pe son-en i onmen in e ac ions, o example,
in ai ac i a ion heo y (Cable & Edwa ds, 2004;
Te & Bu ne , 2003): Psychological p epa edness
Ma ke (size, muni icence,
Reducing egula o y hu dles
Banking sys em, e c.
p ocesses, o example:
The hinge: psychological p epa edness o en ep eneu ial
mindse s:, o example
en ep eneu ial knowledge
Fig. 1 Combining mac o- and mic o-p ocesses in he en e-
p eneu ial ecosys em o a coun y
1 All o he s udies epo ed he e we e done wi h colleagues
and s uden s in Eu ope and A ica as well as economis s a he
Wo ld Bank. I dedica e he Global Awa d o En ep eneu ship
Resea ch o hem. I ecei ed help ul eedback on his a icle
om Mona Mensmann, Michael Gielnik, Janina Peschmann,
Philip Yang, and Amba F ese.
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Lea ning omA ican en ep eneu ship—on hepsychological unc ion o en ep eneu ial…
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makes he mic o- and mac o-wo lds click; he click
helps o build on oppo uni ies, o use esou ces well,
and o pu good ideas in o ac ion. In he ollowing,
I elabo a e on wo componen s o psychological p e-
pa edness and discuss hem in mo e de ail—ac ion-
o ien ed en ep eneu ial knowledge and pe sonal ini-
ia i e (PI).2 They can be imp o ed by wo ainings:
• The STEP aining which ocuses on he cogni i e
a ea o e ec i e en ep eneu ship (ac ion-o ien ed
knowledge) (Gielnik e al., 2015; Peschmann
e al., 2023)
• The pe sonal ini ia i e aining which imp o es
he mo i a ional pa o he en ep eneu ial mind-
se —PI implies o be sel -s a ing, u u e-o ien ed,
and pe sis en in o e coming ba ie s (F ese,
2021)
Be o e desc ibing hese ainings, I need o elab-
o a e on wo me hodological ad an ages o doing
s udies in LMICs.
2 Me hodological issues o s udying
en ep eneu ship inlow‑ andmiddle‑income
coun ies
S udying en ep eneu ship in LMICs may help o
add ess endogenei y which is cha ac e ized by omi -
ed a iables, simul anei y, measu emen e o , and
selec ion (Hill e al., 2021). En ep eneu ship esea ch
o en desc ibes he p oblems o selec ion e ec s
( ange es ic ion), e.g., exi om he ma ke . O en
a Heckman’s ins umen a iable is de eloped o deal
wi h endogenei y p oblems (Hill e al., 2021). How-
e e , i is no easy o de elop a good ins umen a ia-
ble ha akes ca e o ‘p e-selec ion’ issues. Examples
o p e-selec ion a e as ollows: Po en ial en ep e-
neu s may ha e an idea o s a ing a company bu
s op soon a e wa ds; o he s may hink long and ha d
abou s a -up ideas, be o e no icing ha en ep e-
neu ship is no o hem; s ill o he s may e en b ie ly
s a a i m o a ew weeks bu hen ake an a ac i e
job o e . P e-selec ion may lead o ange es ic ion,
which in u n causes se ious unde es ima es o ela-
ionships (Hun e e al., 2006; Mendoza & Mum o d,
1987). “…ce ain o ms o ange es ic ion can dis-
o obse ed p edic o co ela ions o a much g ea e
deg ee” han assumed by many esea che s (Sacke
e al., 2007, p. 542).
Some en ep eneu ship esea che s make a i -
ue o selec ion e ec s and sugges o concen a e on
high-g ow h en ep eneu ship (La Po a & Shlei e ,
2014a). Shane (2009, p. 145) a gued: “S op subsidiz-
ing he o ma ion o he ypical s a -up and ocus on
he subse o businesses wi h g ow h po en ial. Ge -
ing economic g ow h and job c ea ion om en ep e-
neu s is no a numbe s game. I is abou encou aging
high quali y, high g ow h companies o be ounded”
(Shane, 2009). Shane’s pape was in luen ial and use-
ul because i ein o ced a di e en ia ed discussion
on “gazelles” (Mo is e al., 2015). Resea ch ha
a emp s o selec only highly success ul en ep e-
neu s o en has pe ec “hindsigh - ision”; his may
lead o good pos -dic ion models ha may no lead
o an adequa e unde s anding o high g ow h. Shane
knew his p oblem and, he e o e, sugges ed u ilizing
expe s ( en u e capi al p o ide s) as p edic o s o
gazelles. Un o una ely, en u e capi al p o ide s a e
also no e y good a p edic ing success o indi idual
i ms; hey make hei money by p edic ing indus ies
a he han indi idual success. The small me a-ana-
ly ic co ela ion be ween VC in es men and e u ns
b eaks down when indus y is included (Rosenbusch
e al., 2013). Simila ly, expe s as well as a i icial
in elligence me hods we e no able o p edic g ow h
well in an A ican se ing (McKenzie & Sansone,
2019).
Da idsson (2004) sugges ed a hough expe imen
on ho se acing o unde s and some o he e ec s o
s udies ha a e selec ing: sucess ul en ep eneu s:
“We design he s udy so ha we include only hose
gamble s who ac ually won…” (p. 62), leading o
s ong e i ica ion o he hypo hesis ha gambling
leads o winning. This is ob iously w ong (Da ids-
son, 2004). To deal wi h his p oblem, Da ids-
son sugges ed s a ing p edic ion s udies as ea ly
as possible. Such s udies exis , e.g., in he Global
2 Ob iously, he e a e a numbe o psychological issues ha
con ibu e o ac ion-o ien ed knowledge and o he mindse o
Pe sonal Ini ia i e, such as pe sonali y a iables, mo i a ional/
a ec i e an eceden s (e.g., en ep eneu ial passion), in ellec-
ual esou ce, and cogni i e an eceden s; mo eo e , he ac ion
o ien ed cha ac e is ics include a numbe o di e en concep s,
such as in o ma ion sea ch, ac i e eedback p ocessing, and
delibe a e p ac ice, and hey all a e con ingen on cul u al ac-
o s ( hey a e desc ibed in mo e de ail in Figu e1, p. 429 o
F ese & Gielnik, 2014).
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M.F ese
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En ep eneu ship Moni o (GEM) o in some analy-
ses o ep esen a i e social su eys (Da idsson e al.,
2009; Hopp & G eene, 2018). Howe e , a la ge pa
o s udies (my own included) ends o ec ui esea ch
pa icipan s om some so o egis e s o exis ing
en ep eneu s (e.g., Dun & B ads ee ). Selec ion
e ec s may hen be ope a i e—e en when ela i ely
new en u es a e selec ed.3
Range o a iance es ic ion educes co ela ions
when selec ion a ec s he a iable in ol ed in a co -
ela ion (Hun e e al., 2006); o he co ela ions may
inc ease.4 The e o e, i is be e o s udy budding
en ep eneu s who ha e no o he choice bu o s a
a business because he e a e no be e al e na i es
(we will alk abou “necessi y en ep eneu ship” a
bi la e in his a icle). Fo example, abou one- hi d
o Ugandans ha e an in en ion o s a a company o
ha e jus s a ed one a any one poin in ime (Wal e
e al., 2005). Gi en his high deg ee o s a -up ac i i-
ies, selec ion e ec s a e p obably small. The e o e,
s udies done in coun ies like Uganda may su e less
om ange es ic ions han e en he mos sophis-
ica ed analysis and ec ui men s a egy in high-
income coun ies wi h hei wel a e o unemploymen
suppo .
Ano he equen ly discussed endogenei y p ob-
lem ela es o causali y. The bes way o s udy causal
e ec s is o use ue expe imen al ield s udies wi h
a andom con ol g oup ( andomized con olled ea -
men , RCT) (Hill e al., 2021). O he easons o ely-
ing on expe imen s a e e hical ones: I do no wan o
p o ide in e en ions wi h unclea scien i ic me i in
LMICs. En ep eneu ial success in poo coun ies
is impo an because po e y becomes wo se when
hings go w ong. I is also une hical o unp o en
in e en ions o induce op imism and hope in people
li ing unde p eca ious ci cums ances. Thus, objec-
i e e idence o causal e ec i eness o in e en-
ions is essen ial. Expe imen s also keep esea che s
hones and humble and s imula e new hinking when
esul s do no suppo hypo heses. P ac ical issues
also speak o doing such s udies in LMICs— he e
is o en a g ea e need o good in e en ions in such
coun ies and a g ea e willingness o lea n abou
en ep eneu ship.5
We conduc ed expe imen al ield s udies in LMICs
o es he e ec i eness o new aining p og ams o
p oduce p epa edness o en ep eneu ial ac ions. The
cu icula o hese aining p og ams we e based on
scien i ic e idence. The i s aining aims o inc ease
en ep eneu ial ac ion knowledge and e ec i eness
o en ep eneu ial ac ions so ha mo e s uden s a e
p epa ed o s a an en ep eneu ial ca ee ; he second
aining imp o es he mo i a ional and skill mindse
o pe sonal ini ia i e.
3 In e en ions oimp o e ac ion‑o ien ed
en ep eneu ial knowledge andpe sonal
ini ia i e: STEPand Pe sonal Ini ia i e (PI)
aining
3.1 STEP aining (s uden aining o
en ep eneu ial p omo ion)
STEP a ge s Bachelo , high school, and echnical col-
lege s uden s aiming o inc ease he equency o suc-
cess ul en ep eneu ship (“make job p o ide s ou o job
seeke s”). STEP is highly ac ion-o ien ed. Fo example,
i manda es ha g oups o 5–6 s uden s s a an in o mal
business in hei i s o second session; his is c ucial o
gain expe iences in ac ions.6 STEP ains ac ion knowl-
edge and skills, p o iding, o example, ac ion knowl-
edge o success ully ini ia e and manage a new en u e
3 A ex eme example on he p oblems o selec ion e ec s
occu ed in Collins’ book Good o G ea (Collins, 2001). Col-
lins selec ed companies ha we e o iginally a e age and hen
imp o ed hei s ock e u ns o h ee imes he ma ke . He
unde es ima ed he dynamics o he ma ke , howe e . A bi
la e wo o Collin’s g ea companies wen bank up , and on
a e age, his g oup o “g ea companies” did wo se han he
gene al ma ke (Cod ing on, 2011).
4 The selec ion e ec s may pose pa icula p oblems in
quali a i e s udies; hey a e usually based on small samples;
also e ospec i e in e p e a ions p e ail because in e es ing
esul s o new heo y can be ound only when new de ails a e
unea hed. Then hindsigh e o s and sel -se ing a ibu ions
a e equen ; e ospec i ely, en ep eneu s’ epo s a e based
on sense-making based on lay heo ies abou e en s and hei
eac ions.
5 Ou pilo s udies e ealed ha in Wes e n coun ies, only
a small ac ion o en ep eneu s showed in e es in skill-
enhancemen p og ams like Pe sonal Ini ia i e aining,
he eby limi ing he po en ial sample size.
6 Ac ion heo y sugges s o base ainings no on simula ion,
bu o use eal-li e ac ions as much as possible (F ese, 2021).
Also eal-li e ac ions p o ide be e lea ning when e o s
occu —people lea n mo e om impo an consequences (Ho -
a h e al., 2021).
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including business oppo uni y iden i ica ion, ma ke -
ing, leade ship and s a egic managemen , psychology
o planning and implemen a ion, including how o deal
wi h one’s mis akes, and inancial boo s apping. Pe -
sonal Ini ia i eis also in eg a ed in o he STEP aining.
STEP di e s om adi ional business aining due
o i s emphasis on lea ning while ac ing and being
guided by scien i ic knowledge; he con en is ied o
pa icipan s’ new in o mal s a -ups. The mul i-disci-
plina y STEP aining uses “ac ion p inciples”—min-
imally necessa y ules o humb o be well- unc ion-
ing based on esea ch; he cu iculum de elopmen
adically educed he cu iculum con en o i s abso-
lu e minimum o p inciples o ac ion.7 Thus, he e is
li le abs ac eaching—e e y hing ela es o he new
business jus s a ed. Fo ins ance, ma ke ing’s 5 o 6
Ps (P oduc , P ice, P omo ion, Place, and People +
Passion) a e no p esen ed abs ac ly. Ins ead, pa ici-
pan s ela e each P o hei g oup’s business, de el-
oping s eps o e ec i ely ma ke ing hei p oduc s
o se ices as well as p oduc /se ice adap a ions.
Ac i e o ms o ge ing nega i e eedback om cus-
ome s a e de eloped, augh , and inco po a ed.
A e he 12 h and inal session, hei businesses
a e dissol ed. Usually, hey ecei ed seed capi al in
he beginning (e.g., USD 100 o each g oup) wi h
he expec a ion o ge i paid ully back a e he
aining—abou 80–90% is usually paid back. STEP
accep s “hones mis akes” esul ing in inancial loss
(using hem as aining ma e ial); bu aine s expec
s uden s o eco e and o con inue e o s o epay
he ini ial amoun .
T aining sessions consis o h ee pa s: p esen a-
ion o ac ion p inciples, expe ien ial lea ning wi h
eal-wo ld asks, and s uden s’ en u es. S uden s p e-
sen achie emen s, nex s eps, p oblems encoun e ed,
and solu ions implemen ed. T ainees and aine s p o-
ided posi i e and nega i e eedback e e ing o spe-
ci ic ac ion p inciples o pe o mance imp o emen .
T aine s emphasize ha e o s should be in e p e ed as
lea ning oppo uni ies a he han as se backs(F ese &
Kei h, 2015). O e ime, pa icipan s inc easingly ake
o e o p o ide eedback o hei pee s, shi ing he
esponsibili y om aine s o ainees.
STEP aining—de eloped be ween 2006 and 2008
wi h ins uc o s om Make e e Uni e si y Business
School in Uganda—aims o alle ia e po e y. A i-
can Bachelo o A s s uden s o en s uggle o secu e
employmen in he exis ing economy. Consequen ly, he
p ima y dependen a iable is he numbe o businesses
s a ed. As he aining was conduc ed du ing he inal
semes e o hei s udies, i was easible o de e mine
soon a e g adua ion and one yea la e whe he o no
hey had launched businesses (Gielnik e al., 2015).
The RCT p o ed ha he aining g oup had a 30
pe cen highe a e o s a ing a business han he
con ol g oup one yea a e he aining (Gielnik
e al., 2015). The mos impo an media o s be ween
aining and s a ing a i m a e he aining we e
en ep eneu ial ac ions and oppo uni y iden i ica-
ion—bo h o hese we e s ongly in luence by STEP
aining. STEP also inc eased ac ion knowledge,
numbe o en ep eneu ial ac ions, and planning and
en ep eneu ial goal in en ions (Gielnik e al., 2015).
STEP aining has been implemen ed in 11 LMICs
ac oss app oxima ely 22 uni e si ies. Long- e m
s udies ac oss 2 yea s based on 6000 Bachelo s u-
den s wi h 15,600 obse a ions showed 30% highe
business owne ship in he ained g oup, wi h o al
income app oxima ely 10% highe han in he con-
ol g oup (Peschmann e al., 2023). The pa icipan s’
employabili y was also enhanced, wi h he ea men
g oup ge ing mo e jobs han he con ol g oup. STEP
aining did no jus inc ease s a -ups in uni e si y
s uden s bu also in 800 high school s uden s (He -
mann e al., n.d. in p epa a ion).
I is c ucial o no e ha some esea che s exp essed
conce n ha highly mo i a ing ainings may inad-
e en ly inc ease s a -up a es o indi iduals who
a e no adequa ely equipped o en ep eneu ship in
e ms o pe sonali y, s a egies, o gene ics (Shane,
2009). Acco ding o his hypo hesis, he much la ge
g oup o STEP aining s a -ups would ha e poo e
pe o mance han he smalle and less encou -
agedg oup o i ms s a ed by he non- aining con-
ol g oup— he la e g oup did no ecei e ex a
mo i a ion and would be a mo e ‘na u al’ selec ion
o s a -ups. The esul s dismiss his hypo hesis; busi-
nesses ounded by aining pa icipan s we e as p o -
i able as hose in he con ol g oup in he long un
(Peschmann e al., 2023). In summa y, by enhanc-
ing conc e e ac ion-o ien ed knowledge and he p e-
pa edness o u ilize oppo uni ies o s a businesses,
STEP helps o imp o e he hinge be ween mic o- and
mac o-subsys ems.
7 Financial li e acy has shown his o be use ul somewha
la e , as well (D exle e al. 2014).
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3.2 Pe sonal ini ia i e (PI) aining o psychological
p epa edness
Pe sonal Ini ia i e (PI) imp o es p epa edness by
enabling en ep eneu s o de ec and exploi oppo u-
ni ies, o u ilize esou ces, and o achie e high en e-
p eneu ial success. PI, as a beha io al synd ome o
sel -s a ing, u u e hinking, and o e coming ba i-
e s, is pa icula ly well-sui ed o desc ibe success ul
en ep eneu ship. The h ee componen s o PI in e -
ac wi h each o he and ein o ce each o he (F ese,
2021).
Fi s , sel -s a ing is a cen al concep o en ep e-
neu ship because en ep eneu s do no usually ha e
bosses who ell hem wha o do. Thus, en ep eneu s
a e always sel -s a ing o some ex en . Howe e , en e-
p eneu s can also be eac i e and hus show signs o he
opposi e o sel -s a ing, o example, when hey mimic
compe i o s o ends in he ma ke . O cou se, en ep e-
neu s can and should lea n om o he s, bu when lea n-
ing om compe i o s, hey should no mimic blindly,
bu a leas sligh ly change hei o e ings. The e o e,
sel -s a ing includes some deg ee o c ea i e and inno-
a i e add-ons o p oduc s, se ices and p ocesses.
Second, u u e-o ien a ion implies hinking o
upcoming oppo uni ies and p oblems and p epa ing
o hem now. Fu u e hinking may lead o new ideas o
s imula e inno a i eness by hinking abou u u e di ec-
ions o he ma ke o one’s posi ion in he ma ke .
Thi d, o e coming ba ie s. I is a de ining cha -
ac e is ic o en ep eneu ship ha di icul ies appea :
Mos en ep eneu s ha e li le esou ces and ha e o
igh o cus ome s, di icul ies wi h supplie s, and
p oblems in ac ually ge ing e e y hing done. As
en ep eneu s usually wo k in a compe i i e en i on-
men , compe i o s may e ec ba ie s. They may ake
away cus ome s wi h be e p ices o be e p oduc s.
Some esea che s concep ualized pe sis ence as pa
o he concep o g i (Muelle e al., 2017); a i s
sigh , his looks o be he same; howe e , I p e e he
cons uc “ac ion cha ac e is ic” o o e coming ba i-
e s; he ac ion-o ien ed concep includes he change-
abili y o skills anddoes no sha e he p oblems o he
g i concep , as g i is highly ela ed o he pe sonali y
ai conscien iousnessand ai s a e usually assumed
o be less easy o change (C ede e al., 2017).8
PI is no jus ela ed o gene al pe o mance bu
also o c ea i e pe o mance and employee p oduc i -
i y (To nau & F ese, 2013). The opposi e o pe sonal
ini ia i e is o be eac i e—a eac i e app oach is
d i en by he si ua ion and/o by o he s; he e is li le
o no planning o wo king owa ds a goal. Reac i e
implies ha en ep eneu s espond o each p oblem
sepa a ely and o each si ua ional demand wi hou
ying o in luence he si ua ion. O cou se, he e may
be some si ua ions whe e eac i e pe o mance is use-
ul, o example, when en i onmen al di icul ies su -
p ise en ep eneu s o when planning becomes a o m
o p oc as ina ion.
We hink o pe sonal ini ia i e o be a good sum-
ma y o he mo i a ional componen o e ec i e
en ep eneu ship (F ese, 2021). Empi ically, he e a e
clea co ela ions wi h en ep eneu ial success. Mos
impo an ly, an in e en ion s udy o imp o e pe -
sonal ini ia i e de eloped on he basis o ac ion he-
o y’s (F ese & Zap , 1994) ace model (F ese & Fay,
2001) was shown o be e ec i e: The h ee aspec s
o PI (sel -s a ing, u u e-o ien ed, and o e coming
ba ie s) a e combined wi h he componen s o he
ac ion sequence (de eloping goals, knowledge abou
he ac ion en i onmen , plans, and eedback du -
ing he ac ion and a he end o he ac ion). Fo each
ace , we de eloped ac ion p inciples, exe cises, small
cases, e c., in he ac ion-o ien ed aining (Mensmann
& F ese, 2017).
The i s andomized con olled in e en ion
s udy o PI aining caused Ugandan en ep e-
neu s o be mo e success ul (Glaub e al., 2014).
The Wo ld Bank and ou esea ch g oup did he
i s la ge-scale RCT s udy on PI aining in Togo
be ween 2014 and 2016 (Campos e al., 2017). I
in ol ed 1500 in o mal en ep eneu s om a ious
indus ies (53% we e emale) who we e andomly
assigned o h ee g oups: a non- ea men con ol
g oup, a adi ional business aining, and one g oup
ecei ing PI aining.
8 In many cases, he li e a u e (and including some o my
ea lie s udies) did no sha ply di e en ia e be ween ai -
PI and PI-ac ion-cha ac e is ic (To nau & F ese, 2013). A
ai is de ined o be s able ac oss si ua ions and ac oss ime.
An ac ion-cha ac e is ic is no jus in e nal o he pe son bu
includes s a e-like in e ac ions wi h he en i onmen . We
de eloped an in e iew measu e o he s a e-like ac ion cha ac-
e is ic (Fay & F ese, 2001). The concep o ac ion cha ac e is-
ic encou ages o de elop in e en ions, in con as o pe sonal-
i y ai s ha a e di icul o change.
Foo no e 8 (con inued)
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The PI aining emphasizes sel -s a ing ac ions
ha a e based on inno a ion and oppo uni y iden i-
ica ion; i le e ages pe sonal s eng hs and esou ces
o gene a e new ideas (de ails in F ese e al., 2016a;
Mensmann & F ese, 2017). Pa icipan s lea n how
o se goals ha a e high in inno a i eness and ambi-
iousness. The pa icipan s a e encou aged o sea ch
o nega i e eedback and o use e o s as a lea ning
de ice in line wi h he e o managemen concep
(F ese & Kei h, 2015). PI aining boos s he use o
c ea i e app oaches o o e coming obs acles. The
aining eaches how o plan well in line wi h Gollwi -
ze ’s implemen a ion heo y (Gollwi ze , 1999) (and
o always ha e a backup plan). A he end o he ain-
ing, he pa icipan s commi ed o a long- e m busi-
ness p ojec o he nex 4 o 6 mon hs.
Campos e al. (2017) showed PI aining o ha e
he highes impac on p o i abili y, being signi i-
can ly highe han he adi ional business aining
(c . Fig.2). The adi ional business aining did no
signi ican ly imp o e p o i abili y compa ed wi h
he con ol g oup. PI aining inc eased he mon hly
p o i s by 30% (ca USD 60 mo e pe mon h). The
implemen a ion o no el p oduc s and se ices was
ma kedly highe among he PI aining pa icipa ions;
hey also inc eased capi al and labo inpu s as well as
di e si ica ion o p oduc s o se ices.
Ano he RCT o PI aining in Mozambique led
o posi i e e ec s in mos ly illi e a e and e y poo
emale a me s; howe e , he in e ac ion o wo
ainings— he PI aining and he aining o e ec-
i e a ming (ag icul u al ex ension aining)—was
cen al (Mon al ao e al., 2024). The expe imen
included h ee andom g oups o app oxima ely 740
pa icipan s each—one g oup ecei ed new p ac i-
cally applicable knowledge on e ec i e a ming; a
second g oup pa icipa ed in bo h, he PI and he
a ming aining; and, inally, one no- aining con ol
g oup. PI aining inc eased he numbe o add-on
s a -ups o income di e si ica ion and led o en e-
p eneu ship in a ming. The pa icipan s in he PI
aining inc eased he numbe o side-gigs by a sig-
ni ican deg ee. The mos impo an esul was ha PI
aining led pa icipan s o use he imp o ed a ming
knowledge be e (e.g., plan ing cash c ops, c . Fig.3)
han hose who only ecei ed he a ming aining
bu no PI aining. E en hough bo h g oupspa ici-
pa ed in he same a ming aining, only he PI g oup
de eloped he en ep eneu ial mindse o u ilize hei
newly acqui ed knowledge on be e a ming. This
shows ha PI aining o med he mo i a ion o be
en ep eneu ial, o be open and expe imen al, and o
ge hings done. PI aining c ea ed he en ep eneu -
ial mindse o imp o e a ming as well as o de elop
side-businesses leading o highe p o i s.
The e a e bounda y condi ions o he posi i e
e ec s o PI aining (Alibhai e al., 2019), as shown
96
106
125
90
95
100
105
110
115
120
125
130
Con ol G oup T adional
Business
T aining
Pe sonal
Inia e
T aining
)sdnasuoh (scna AFC
Mon hly P o i
Fig. 2 Compa ing pe sonal ini ia i e aining wi h a adi-
ional business aining, RCT in Togo (N=1500, 500 in each
g oup). Sou ce: numbe s om Campos e al. (2017)
Fig. 3 Ag icul u al ex en-
sion aining (AE) and pe -
sonal ini ia i e aining (PI)
in Mozambique (N=2240;
n=760 o combined ain-
ing). Sou ce: numbe s om
Mon al ao e al. (2024),
p o i s in Mozambican
me ical
0.952 1.108
1.529
0
0.5
1
1.5
2
Con ol G oupAg icul u al
Ex ension
T aining
AE + Pe sonal
Inia e
Cash C ops #
# o Cash C ops
365
524
820
0
200
400
600
800
1000
Con ol
G oup
Ag icul u al
Ex ension
T aining
AE +
Pe sonal
Inia e
Business P o i s
Business P o i s
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by a ze o esul in E hiopia; his lack o success o he
PI aining was p obably no due o cul u al di e ences
bu o he (in)e ec i eness o some aine s (Wol e al.,
2024). Al hough he e was a co ela ion be ween PI and
success in his sample, many o he aine s we e no
able o change PI enough o make a di e ence.
Ano he bounda y condi ion on PI is ime. Some
o he e ec s con inue on e y long e m (unpub-
lished da a show di e ences o p e ail ac oss he
h ee g oups in Togo up o 8 yea s a e he aining
in 2014); howe e , we also ound a imes sho - e m
e ec s (Ub al e al., 2022).
Can people keep up showing PI o e e y long
ime? My cu en hinking is ha PI ac ions cos
e o —i is ha d wo k o p omp ini ia ing ac ions
again and again. The e o e, PI ac ions a e o en
educed o e ime; because o p io inno a ions, ha
may no a ec p o i s nega i ely (Mensmann & F ese,
2019). S udies on employees show some nega i e
well-being e ec s i people o ce hemsel es o show
PI (Zache e al., 2019). Howe e , PI ac ions can be
conside ed he esul o skill lea ning. Thus, he PI-
skill can be eawakened i needed and will hen ha e
posi i e e ec s by aking cha ge o he en i onmen
and u ilize new oppo uni ies.
3.3 Recapi ula ion
Up o his poin , we showed he wo mos impo an
aspec s o psychological p epa edness o en e-
p eneu ial ac ions—PI and ac ion knowledge— o
inc ease he a e o en ep eneu ship among s uden s
and o imp o e en ep eneu ial success. The expe i-
men al s udies we e done in an en i onmen wi h low
es ic iono a iance; a e all, A ican en ep eneu -
ship is o en high because he e is a lowe chance
o ge ing employmen ou side en ep eneu ship.
The e o e, a la ge pa o ou samples could be called
“necessi y en ep eneu s.” En ep eneu ship esea ch
has o en a gued ha necessi y en ep eneu s a e di -
e en om oppo uni y en ep eneu s— hus calling
in o ques ion he gene alizabili y o ou esul s.
Some quasi-expe imen al and small s udies in Ge -
many and in Sou h A ica may sugges some gene -
aliza ion o esul s (F ese e al., 2016b; Solomon e al.,
2013). Howe e , hese s udies do no include and-
omized con ol g oups. Gene aliza ion issues a e impo -
an — oo o en ins i u ional o cul u al ac o s de e mine
di e ences.
In he ollowing, I discuss some ob ious di e -
ences be ween low- and high-income coun ies. Wha
looks di e en may be due o di e ences in means bu
ha does no ep esen di e ences in “laws o na u e.”
I p oposed ha LMICs allow “be e ” s udies o en e-
p eneu ship, because o lowe ange es ic ion (mo e
en ep eneu ship) and highe mo i a ion o lea n be -
e skills. These LMIC s udies may help o o e come
Wes e n biases esul ing om he ascina ion wi h
en ep eneu ship in Silicon Valley, which i sel may
be a e y speci ic o m o en ep eneu ship.
4 “Poo ” en ep eneu ship asnecessi y
en ep eneu ship
The insigh ha a high pe cen age o en ep eneu s in
LMICs s a hei business ou o “necessi y” because
hey do no ha e “be e op ions” a ailable, con ib-
u ed o a di e en ia ion be ween necessi y and oppo -
uni y en ep eneu ship (Reynolds e al., 2003, p. 36).
Necessi y en ep eneu s s a a company o “su i e”
(Weiss e al., 2024) ha ing o deal wi h he “liabil-
i y o poo ness” (Mo is e al., 2020). The en ep e-
neu ship li e a u e is s ongly in luenced by his di -
e en ia ion (Dencke e al., 2021). I is plausible ha
he easons why a pe son chooses en ep eneu ship
would also a ec he way he business is un and i s
e en ual success o ailu e. A simila concep , push
and pull mo i a ion o en ep eneu ship, a gued ha
push consis s p ima ily o nega i e con ex condi ions
(nega i e job, bad boss, unemploymen , e c.), and
pull e e s o own mo i a ion (posi i e hopes, de ec-
ion o g ea oppo uni ies, and aspi a ions) (Dawson
& Henley, 2012).
The e a e wo p oblems wi h “necessi y-en ep e-
neu ship”: i s , i s dicho omous measu e and second
i s assumed impo ance o en ep eneu ial ou comes.
Many esea che s use he dicho omous measu e o
necessi y e sus oppo uni y en ep eneu ship, bu i
was also me by c i icism (Caliendo & K i ikos, 2019;
Co man & Sunny, 2021; Eijdenbe g & Masu el, 2013;
Webe e al., 2023). Some s udies equa ed en ep e-
neu ship by he unemployed wi h necessi y en ep e-
neu ship (Fai lie & Fossen, 2020). Assump ions de el-
oped in his a ea con adic psychological esea ch:
Nega i e si ua ions (unemploymen ) may mo i a e
people o hink o oppo uni ies o en ep eneu ship.
Nega i e si ua ions o en igge one o e hink one’s
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