Abstract

This study examined the role of self-regulation moderating the effects of business stressors on quality of life for Canadian entrepreneurs. Research finds the inability to make progress towards goals can negatively influence a person's quality of life (Carver & Scheier, 1998). It was predicted that business difficulties would deplete the emotional and physical resources of entrepreneurs. Challenges to the business were expected to affect the owner's experience of business regrets, and in turn, these would affect their well-being. Building on work demonstrating that self-regulation capacities involved in the adjustment of personal goals serve adaptive functions (Wrosch, Scheier, Miller, Schulz, & Carver, 2003), a theoretical model was elaborated, implying that the relations between business struggles, regrets and entrepreneurial well-being would be moderated by the entrepreneur's goal adjustment abilities. Findings are based on a cross-sectional sample of 140 entrepreneurs from across Canada. Analyses suggest the entrepreneur's health and well-being are adversely affected by negative business outcomes only for those who are not able to adjust their business goals. Further, it was found that among entrepreneurs facing business struggles, those who could reengage in new goals suffered fewer intrusions about their business regrets. Finally, the intensity of the negative emotions about a regret was a predictor of aversive outcomes for quality of life measures, and this was also moderated by the goal adjustment ability of the entrepreneur. The implications of the findings for adaptive self-regulation of business goals are discussed.