RICH with well-being: An entrepreneurial mindset for thriving in early-stage entrepreneurship

Stephen E. Lanivich, University of Memphis
Andrew Bennett, Strome College of Business
Stacey R. Kessler, Kennesaw State University
Nancy McIntyre, John Chambers College of Business and Economics
Adam W. Smith, Middle Tennessee State University


Entrepreneurs enjoy high well-being, yet they report factors that typically reduce well-being. We examined well-being of early-stage entrepreneurs across two studies. Using self-determination theory (SDT), we theorize that entrepreneurs’ autonomy, job security, and resource-induced coping heuristic (RICH) have direct and interacting effects that shape their environment toward enhancing well-being. Results largely support our hypotheses. Interaction effects highlight that entrepreneurial well-being environments are conditional on the interplay of SDT-related factors. Three-way interactions showed the RICH buffered negative effects of low autonomy and job security on job satisfaction and financial well-being.