Examining the impact of trait grit on aspiring entrepreneur's new venture ideation: Evidence from Ghana

One tool that has long been advocated to promote economic development and reduce poverty in developing countries such as Ghana is entrepreneurship. Entrepreneurship, however, is a process that goes through several phases. One of the first hurdles for aspiring entrepreneurs to cross is to come up with a viable new venture idea. Drawing on the social cognitive theory of self-regulation, we hypothesize that the two dimensions of dispositional grit (consistency of interest and perseverance of effort) may enhance aspiring entrepreneurs' new venture ideation via entrepreneurial self-efficacy. Furthermore, the indirect effects of consistency of interest and perseverance of effort on venture ideation via entrepreneurial self-efficacy are proposed to be stronger when entrepreneur identity aspiration is high. Based on a sample of 265 (Study 1) and 338 (Study 2) aspiring entrepreneurs in Ghana, we found consistent and strong support for our hypothesized model. Theoretical and practical implications of our findings are discussed.