Nowhere to Run and Nowhere to Hide: The Relationship between Entrepreneurial Success and Feelings of Entrapment

Abstract

Abstract One unintended consequence of entrepreneurial action may be that the entrepreneur becomes intertwined with the business. This phenomenon is called entrapment and we draw on Becker’s Side-Bet Theory to explore the relationship between entrepreneurial success, individual differences, and feelings of entrapment. The general logic is that as venture success increases entrepreneurs are better able to satisfy commitments and have a greater sense of alternatives that reduce feelings of entrapment. We surveyed 122 active entrepreneurs and found support for the venture success — feelings of entrapment relationship. We also found significant direct relationships between feelings of entrapment and attitude towards risk and fear of failure, however, these variables did not moderate the venture success — entrapment relationship. One implication of our findings is that entrepreneurs running marginally performing businesses are likely to experience greater feelings of entrapment.