Exploring the entrepreneurial process, particularly the role of the entrepreneur’s psychological aspect in business models, has been less emphasized in previous research. This study aims to introduce a business model influenced by psychological factors.
This study reveals psychological factors in the entrepreneurial process through qualitative interviews, identifying two main categories: negative emotions and moderating effects. This study adopts a grounded theory approach using the constant comparative method, analyzing data through systematic coding procedures.
A new theoretical framework, Business Model for Sustainability by Psychology, is established, integrating business processes and psychological factors, and emphasizing the importance of addressing psychological challenges in the success of self-created brands. Furthermore, this study indicates that entrepreneurs are more likely to acquire resources and maintain a positive innovative attitude in a supportive social and cultural environment.
Future research should expand to include various types of stores and entrepreneurs from different age groups. Expanding the research to include other industries would provide more comprehensive and representative results.
This research reveals interdisciplinary observations to better support entrepreneurs in facing challenges and promoting the success of entrepreneurial activities.
The psychological state of entrepreneurs and the social-cultural background are modeled when designing business integration frameworks to enhance the success of entrepreneurship.
