Although scholars have long recognized that failure is endemic to entrepreneurial activity, they have implicitly argued that prior entrepreneurial experience positively affects opportunity discovery and opportunity exploitation. In contrast, I argue that the degree of mindfulness with which...

We introduce the concept of ‘individual action propensity’ to examine the approach of individuals towards solving situations for which they lack knowledge and/or experience about what to do. We focus on a naturally contrasting pair of responses: ‘thinking before acting’ or ‘acting...